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
Other methods of calculating the increase of wealth gave equally
contradictory results. The registered tonnage of Massachusetts
engaged in foreign trade exceeded two hundred and ten thousand tons
in 1800; in 1816 it was two hundred and seventy-four thousand tons.
In the coasting-trade Massachusetts employed seventy-five thousand
tons in 1800, and one hundred and twenty-nine thousand in 1816. The
tonnage employed in the fisheries showed no growth. The shipping of
Massachusetts seemed to indicate an increase of about forty per cent in
sixteen years.
The system of direct taxation furnished another standard of comparison.
In 1798 a valuation was made in certain States of houses and lands
for direct taxes; another was made in 1813; a third in 1815. That of
1798 amounted to eighty-four million dollars for Massachusetts; that
of 1813, to one hundred and forty-nine millions; that of 1815, to
one hundred and forty-three millions,--a gain of seventy per cent in
sixteen years; but such a valuation in 1817 would probably have shown a
considerable loss on that of 1815.
Evidently the chief increase in wealth consisted in the growth of
manufactures, but after the prostration of the manufacturing interest
in 1816 no plausible estimate of their true value could be made,
unless the bank discounts measured their progress. The result of the
whole inquiry, though vague, suggested that wealth had increased in
Massachusetts more rapidly than population, and had possibly gained
seventy or eighty per cent in sixteen years;[155] but in spite of this
increase the State was in a pitiable situation. Neither steamboats,
canals, nor roads could help it. Thousands of its citizens migrated
to New York and Ohio, beyond the possibility of future advantage to
the land they left. Manufactures were prostrate. Shipping was driven
from the carrying trade. Taxation weighed far more heavily than ever
before. A load of obloquy rested on the State on account of its war
policy and the Hartford Convention. The national government treated it
with severity, and refused to pay for the Massachusetts militia called
into service by the President during the war, because the governor had
refused to place them under national officers.
Public-domain text, read in full here on John Shaqi.
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