Currency Boards and Currency Restrictions

MScoleman at aol.com MScoleman at aol.com
Wed Sep 2 14:47:04 PDT 1998


In a message dated 98-09-01 13:46:14 EDT, Mike asks:

<< How did the US keep from becoming a permanent

economic colony of Britain.

--mike >>

a little simplistically, but nonetheless true, because of the War of 1812. When the Jefferson embargos stopped the south from exporting cotton to british mills, this broke the long term economic contract. The north built the mills (in 1809, the number of mills in Massachusetts went from about 25 to 100+) to take the south's cotton. From then on there were certainly stops and starts, but the industrializing sectors in New England became the trading partners of the south and the US as a whole began the transition to industrial power.

maggie coleman mscoleman at aol.com



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