The Transatlantic Financial Crisis of 1837

2017 ◽  
Author(s):  
Stephen W. Campbell
Keyword(s):  
United States ◽  
Great Britain ◽  
Financial Crisis ◽  
Commodity Prices ◽  
The United States ◽  
British Imperialism ◽  
Proper Role ◽  
Modern Capitalism ◽  
Boom And Bust ◽  
Global Movements

The Transatlantic Financial Crisis of 1837 produced a global depression that lasted until the mid-1840s. Falling cotton prices, a collapsing land bubble, and fiscal and monetary policies pursued by individual actors and financial institutions in the United States and Great Britain were all responsible. A comprehensive understanding of the panic must take into account the global movements of gold and silver that linked Mexico, China, the United States, and Great Britain in complex networks of credit and debt. In the United States, businesses, banks, and individuals declared bankruptcy; states defaulted on their debts; commodity prices dropped; credit instruments lost their value; and unemployment rose amid a general atmosphere of pessimism and an erosion of confidence. The severity of the panic prompted politicians and financial theorists to reevaluate their ideological assumptions regarding the proper role of governmental regulation in an economy. In a larger sense, the panic demonstrated how the expansion of slavery in the United States, British imperialism, financial speculation, and recurring cycles of boom and bust were emerging as defining features of modern capitalism.

‘A Noble Empire in the West’: Young Ireland, the United States and Slavery

2013 ◽  
Vol 6 (2) ◽  
pp. 171-191
Author(s):  
Ian Delahanty
Keyword(s):  
United States ◽  
Great Britain ◽  
British Empire ◽  
The United States ◽  
British Imperialism ◽  
The West ◽  
American Slavery ◽  
Daniel O'connell ◽  
Political Relationship

Young Ireland nationalists conciliated slaveholding and proslavery Americans in the mid-1840s by situating Irish debates over American slavery within a broader discussion of Ireland's status in the British Empire. As Irish nationalists sought to redefine Ireland's political relationship to Great Britain, many came to see material and rhetorical support from the United States as indispensable to their efforts. Unlike Daniel O'Connell, Young Irelanders proved willing to overlook slavery in the United States because they believed that an Irish-American alliance could be mobilised to critique British imperialism and potentially to gain greater autonomy for Ireland. Debates among Irish nationalists over accepting aid from slaveholding and proslavery Americans, therefore, bring into focus where O'Connell and Young Ireland differed with regard to Ireland's sufferings under the Union and involvement in the Empire.

Corruption as a Political Issue in Modern Societies: France, Great Britain and the United States in the Long 19th Century

Public Voices ◽  
2016 ◽  
Vol 10 (2) ◽  
pp. 68 ◽  
Author(s):  
Jens Ivo Engels
Keyword(s):  
United States ◽  
Great Britain ◽  
19Th Century ◽  
French Revolution ◽  
Political Corruption ◽  
The United States ◽  
Modern World ◽  
Political Issue ◽  
Starting Point ◽  
Bureaucratic State

The so-called “long 19th century”, from the French Revolution to the First World War, ranks as the crucial phase in the genesis of the modern world. In the Western countries this period was characterized by the differentiation of the public and the private spheres, the birth of the modern bureaucratic state and the delegitimation of early modern practices such as clientelism and patronage. All these fundamental changes are, among other things, usually considered important preconditions for the modern perception of corruption.This paper will concentrate on this crucial phase by means of a comparative analysis of debates in France, Great Britain and the United States, with the aim to elucidate the motives for major anti-corruption movements. The questions are: who fights against corruption and what are the reasons for doing so? I will argue that these concerns were often very different and sometimes accidental. Furthermore, an analysis of political corruption may reveal differences between the political cultures in the countries in question. Thus, the history of corruption serves as a sensor which enables a specific perspective on politics. By taking this question as a starting point the focus is narrowed to political corruption and the debates about corruption, while petty bribery on the part of minor civilservants, as well as the actual practice in the case of extensive political corruption, is left aside.

A Global Perspective on Securitized Debt

2018 ◽  
Author(s):  
Steven L Schwarcz
Keyword(s):  
United States ◽  
Financial Crisis ◽  
Capital Market ◽  
Global Financial Crisis ◽  
The United States ◽  
Global Perspective ◽  
Capital Markets Union ◽  
The Global Financial Crisis ◽  
Asset Backed Securities ◽  
The Eu

Securitisation represents a significant worldwide source of capital market financing. European investors commonly invest in asset-backed securities issued in U.S. securitisation transactions, and vice versa One of the key goals of the European Commission's proposed Capital Markets Union (CMU) is to further facilitate securitisation as a source of capital market financing as a viable alternative to bank-based finance for companies operating in the EU. To that end, this chapter explains securitisation and attempts to put its rise, its decline after the global financial crisis, and its recent CMU-inspired revival into a global perspective. It examines not only securitisation's relationship to the financial crisis but also post-crisis comparative regulatory approaches in the EU and the United States.

Counterterrorism Between the Wars

2020 ◽  
Author(s):  
Mary S. Barton
Keyword(s):  
United States ◽  
Great Britain ◽  
Domestic Politics ◽  
The United States ◽  
League Of Nations ◽  
Great Powers ◽  
Common Interests ◽  
Independence Movements ◽  
Second World ◽  
The U.S

This is a book about terrorism, weapons, and diplomacy in the interwar years between the First and Second World Wars. It charts the convergence of the manufacture and trade of arms; diplomacy among the Great Powers and the domestic politics within them; the rise of national liberation and independence movements; and the burgeoning concept and early institutions of international counterterrorism. Key themes include: a transformation in meaning and practice of terrorism; the inability of Great Powers—namely, Great Britain, the United States, France—to harmonize perceptions of interest and the pursuit of common interests; the establishment of the tools and infrastructure of modern intelligence—including the U.S.-U.K. cooperation that would evolve into the Five Eyes intelligence alliance; and the nature of peacetime in the absence of major wars. Particular emphasis is given to British attempts to quell revolutionary nationalist movements in India and elsewhere in its empire, and to the Great Powers’ combined efforts to counter the activities of the Communist International. The facilitating roles of the Paris Peace Conference and League of Nations are explored here, in the context of the Arms Traffic Convention of 1919, the Arms Traffic Conference of 1925, and the 1937 Terrorism Convention.

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