History of the United States of America, Volume 9 (of 9) : $b During the second administration of James MadisonAdams, Henry
History
History of the United States of America, Volume 9 (of 9) : $b During the second administration of James Madison
Adams, Henry
United States -- History -- 1801-1809; United States -- History -- 1809-1817
The debt had exceeded eighty millions twenty years before, and in the
interval the country had greatly increased its resources. The war
debt was a trifling load, and would not have been felt except for the
confusion of the currency and the unnecessary taxation imposed at the
last moments of the war. That the currency and the war taxes were
severe trials was not to be denied, but of other trials the people had
little to complain.
Considering the dangers to which the United States were exposed, they
escaped with surprising impunity. The shores of Chesapeake Bay and
of Georgia were plundered; but the British government paid for the
slaves carried away, and no town of importance except Washington was
occupied by an enemy. Contrary to the usual experience of war, the
richest parts of the country suffered least. Only the Niagara frontier
was systematically ravaged. When the blockade of the coast was raised,
every seaboard city was able instantly to resume its commercial habits
without having greatly suffered from the interruption. The harvests
of two seasons were ready for immediate export, and the markets of
Europe were waiting to receive them. Every man found occupation, and
capital instantly returned to its old channels. From the moment of
peace the exports of domestic produce began to exceed five million
dollars a month, while four millions was the highest average for any
previous twelvemonth, and the average for the seven years of embargo
and blockade since 1807 fell much short of two and a half millions. The
returns of commerce and navigation showed that during the seven months
from March 1 to October 1, 1815, domestic produce valued at forty-six
million dollars was exported, and American shipping to the amount of
eight hundred and fifty-four thousand tons was employed in the business
of export.[108]
Public-domain text, read in full here on John Shaqi.
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