A Note on the Interpenetration of Anglo-American Finance, 1837–1841

1951 ◽  
Vol 11 (2) ◽  
pp. 140-147 ◽  
Author(s):  
Joseph Dorfman

There is a widespread impression among students of American financial history that, in the period immediately following the panic of 1837, American financiers engaged in sharp practices amounting to the wholesale deception of British bankers and European investors. This impression has been fostered especially in connection with the well-known episode of the partial or complete repudiation of state bonds by Arkansas, Illinois, Indiana, Mississippi, Louisiana, Michigan, and Florida in the 1840's. According to the charge, the large British bankers originally transacted business in the United States only through old and established bankers and agents. This enabled them to avoid the more speculative securities. Much of the distribution of bonds in England was done through three British firms, which were prominent in the merchant-banking business for the American trade: Thomas Wilson & Co., Timothy Wiggin & Co., and Geo. Wildes & Co.—popularly known as the 3 W's. A change for the worse occurred—so the charge runs—when these firms were forced to suspend payments because of the financial strain in England and the United States in 1837. After the resumption of specie payments in the United States the following year, a more speculative type of American banker, assisted by high-pressure salesmen who were sent to England, was prominent in financiering. These agents were so persuasive that they involved the British bankers in the wildest of schemes, and these bankers, in turn, disposed of American securities to equally innocent investors.

1941 ◽  
Vol 1 (S1) ◽  
pp. 53-66 ◽  
Author(s):  
Ralph W. Hidy

Prior to the Civil War in the United States much of the economic development of the country was financed by means of European credit, extended for both short and long terms. The flow of capital was chiefly from England and considerable Continental capital moved through England to the United States. A few firms in England were the chief instruments in this process of financing American trade and marketing American securities. These Anglo-American merchant bankers are the subject of this paper.


2013 ◽  
Author(s):  
Spero Simeon Zachary Paravantes

While trying to understand and explain the origins and dynamics of Anglo-American foreign policy in the pre and early years of the Cold War, the role thatperception played in the design and implementation of foreign policy became acentral focus. From this point came the realization of a general lack of emphasisand research into the ways in which the British government managed to convincethe United States government to assume support for worldwide British strategicobjectives. How this support was achieved is the central theme of this dissertation.This work attempts to provide a new analysis of the role that the British played in the dramatic shift in American foreign policy from 1946 to 1950. Toachieve this shift (which also included support of British strategic interests in theEastern Mediterranean) this dissertation argues that the British used Greece, first asa way to draw the United States further into European affairs, and then as a way toanchor the United States in Europe, achieving a guarantee of security of theEastern Mediterranean and of Western Europe.To support these hypotheses, this work uses mainly the British andAmerican documents relating to Greece from 1946 to 1950 in an attempt to clearlyexplain how these nations made and implemented policy towards Greece duringthis crucial period in history. In so doing it also tries to explain how Americanforeign policy in general changed from its pre-war focus on non-intervention, to the American foreign policy to which the world has become accustomed since 1950. To answer these questions, I, like the occupying (and later intervening)powers did, must use Greece as an example. In this, I hope that I may be forgivensince unlike them, I intend not to make of it one. My objectives for doing so lie notin justifying policy, but rather in explaining it. This study would appear to havespecial relevance now, not only for the current financial crisis which has placedGreece once again in world headlines, but also for the legacy of the Second WorldWar and the post-war strife the country experienced which is still playing out todaywith examples like the Distomo massacre, German war reparations and on-goingsocial, academic and political strife over the legacy of the Greek Civil War.


Author(s):  
David A. Gerber

American Immigration: A Very Short Introduction traces three massive waves of immigration from the mid-nineteenth century to the present, and analyzes the nature of immigration as a purposeful, structured activity, attitudes supporting or hostile to immigration, policies and laws regulating immigration, and the nature of and prospects for assimilation. There have been some dramatic developments since 2011, including the crisis along the southwestern border and the intense conflict over illegal immigration. The population of the United States has diverse sources: territorial acquisition through conquest and colonialism, the slave trade, and voluntary immigration. Many Americans value the memory of immigrant ancestors, and are sentimentally inclined to immigrant strivings. Alongside this sits the perception that immigration destabilizes social order, cultural coherence, job markets, and political alignments. The nearly 250 years of American nationhood has been characterized by both support for openness to immigration and embrace of a cosmopolitan formulation of American identity and for restrictions and assertions of belief in a core Anglo-American national character.


Author(s):  
V. M. (Bala) Balasubramaniam

Consumers demand healthier fresh tasting foods without chemical preservatives. To address the need, food industry is exploring alternative preservation methods such as high pressure processing (HPP) and pulsed electric field processing. During HPP, the food material is subjected to elevated pressures (up to 900 MPa) with or without the addition of heat to achieve microbial inactivation with minimal damage to the food. One of the unique advantages of the technology is the ability to increase the temperature of the food samples instantaneously; this is attributed to the heat of compression, resulting from the rapid pressurization of the sample. Pulsed electric field (PEF) processing uses short bursts of electricity for microbial inactivation and causes minimal or no detrimental effect on food quality attributes. The process involves treating foods placed between electrodes by high voltage pulses in the order of 20–80 kV (usually for a couple of microseconds). PEF processing offers high quality fresh-like liquid foods with excellent flavor, nutritional value, and shelf life. Pressure in combination with other antimicrobial agents, including CO2, has been investigated for juice processing. Both HPP and PEF are quite effective in inactivating harmful pathogens and vegetative bacteria at ambient temperatures. Both HPP and PEF do not present any unique issues for food processors concerning regulatory matters or labeling. The requirements are similar to traditional thermal pasteurization such as development of a Hazard Analysis Critical Control Point (HACCP) plan for juices and beverages. Examples of high pressure, pasteurized, value added products commercially available in the United States include smoothies, fruit juices, guacamole, ready meal components, oysters, ham, poultry products, and salsa. PEF technology is not yet widely utilized for commercial processing of food products in the United States. The presentation will provide a brief overview of HPP and PEF technology fundamentals, equipment choices for food processors, process economics, and commercialization status in the food industry, with emphasis on juice processing. Paper published with permission.


Economica ◽  
1953 ◽  
Vol 20 (80) ◽  
pp. 380
Author(s):  
M. Miller ◽  
P. Studenski ◽  
H. E. Kroos

1992 ◽  
Vol 24 (1) ◽  
pp. 65-88 ◽  
Author(s):  
B. J. C. McKercher

One of the pervading interpretations of Anglo-American relations in the interwar period is that the advent of James Ramsay MacDonald's Labour government in June 1929 set in train the series of events that ended bitter relations between Britain and the United States, bitterness which had been caused by the naval question. There are several strands to this: first, that the American policy pursued by the Conservative second Baldwin government from November 1924 to June 1929, and especially after the failure of the Coolidge naval conference in the summer of 1927, was bankrupt; second, that MacDonald was more amenable to settling British differences with the Americans than were his Conservative predecessors and, that being so, softened the hardline towards the United States that had marked Conservative foreign and naval policy for more than two years; and, finally, that MacDonald's decision to travel to the United States on what proved to be a very successful visit in the autumn of 1929 to meet Herbert Hoover, the new president, to discuss outstanding issues personally, was a major diplomatic coup. Some of this received version is true. No one can doubt that MacDonald and his Labour ministry played a crucial role in helping to ameliorate the crisis that had been dogging good Anglo-American relations for more than two years before June 1929. The Labour Party constituted the government when the London naval conference of 1930 ended the period of Anglo-American naval rivalry. Moreover, for six months before that conference convened, Labour had conducted effective diplomacy in preparing for its deliberations.


2003 ◽  
Vol 12 (1-2) ◽  
pp. 81-104
Author(s):  
Meghan Nealis

AbstractBritish perceptions of the United States in Indochina between 1957 and 1963 were cautious and constructive. This article examines the perceptions of policymakers in Prime Minister Harold MacMillan's government and public opinion as expressed in the Times of London. British policymakers had basic doubts regarding American policy in Indochina, but Britain remained involved in the region after 1954 and agreed with the United States on defining the problem and on the broad methodological approach to the crisis. London wanted to ensure that Washington pursued the “right” policy in Indochina, that Britain utilized its expertise in post-colonial and counter-insurgency, and that the Anglo- American alliance maintained its importance for both countries. The study of these perceptions reveals some concerns which we would anticipate, but also shows that Britain respected the United States as a leader in the region and that it agreed with the United States on core issues.


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