An examination of foreign capital's role in the American Civil War.

Publisher description

In this examination of Union and Confederate foreign relations during the Civil War from both European and American perspectives, Howard Jones demonstrates that the consequences of the conflict between North and South reached far beyond American soil. Jones explores a number of themes, including the international economic and political dimensions of the war, the North's attempts to block the South from winning foreign recognition as a nation, Napoleon III's meddling in the war and his attempt to restore French power in the New World, and the inability of Europeans to understand the interrelated nature of slavery and union, resulting in their tendency to interpret the war as a senseless struggle between a South too large and populous to have its independence denied and a North too obstinate to give up on the preservation of the Union. Most of all, Jones explores the horrible nature of a war that attracted outside involvement as much as it repelled it. Written in a narrative style that relates the story as its participants saw it play out around them, Blue and Gray Diplomacy depicts the complex set of problems faced by policy makers from Richmond and Washington to London, Paris, and St. Petersburg.

States, Debt, and Power argues for the importance of situating our contextually influenced thinking about European states and debt within a commitment to historically informed and critical analysis. It teases out certain broad historical patterns. The book also examines the inescapably difficult and contentious judgements about 'bad' and 'good' debt; about what constitutes sustainable debt; and about distributive justice at times of sovereign debt crisis. These judgements offer insight into the nature of power and the contingent nature of sovereign creditworthiness. Three themes weave through the book: the significance of creditor-debtor state relations in defining asymmetry of power; the context-specific and constructed character of debt, above all in relation to war; and the limitations of formal economic reasoning in the face of radical uncertainty. Part I examines case studies from Ancient Greece to the modern Euro Area and brings together a wealth of historical data that cast fresh light on how sovereign debt problems are debated and addressed. Part II looks at the conditioning and constraining framework of law, culture, and ideology and their relationship to the use of policy instruments. Part III shows how the problems of matching the assumption of liability with the exercise of control are rooted in external trade and financial imbalances and external debt; in financial markets and vulnerability to banking crisis; in the character of the 'private governance of public debt'; in who has power over indicators of sustainability; in domestic institutional and political arrangements; and in sub-national fiscal governance. Part IV looks at how the problems of mismatch between liability and control take on an acute form within the historical context of European monetary union, above all in Euro Area debt crises.

Nineteenth-century globalization made America exceptional. On the back of European money and immigration, America became an empire with considerable skill at conquest but little experience administering other people's, or its own, affairs, which it preferred to leave to the energies of private enterprise. The nation's resulting state institutions and traditions left America immune to the trends of national development and ever after unable to persuade other peoples to follow its example. In this concise, argumentative book, Eric Rauchway traces how, from the mid-1800s to the early 1900s, the world allowed the United States to become unique and the consequent dangers we face to this very day.

This is an open access title available under the terms of a CC BY-NC-ND 4.0 International licence. It is free to read at Oxford Scholarship Online and offered as a free PDF download from OUP and selected open access locations. Sovereign Debt Diplomacies aims to revisit the meaning of sovereign debt in relation to colonial history and postcolonial developments. It offers three main contributions. The first contribution is historical. The volume historicises a research field that has so far focused primarily on the post-1980 years. A focus on colonial debt from the 19th century building of colonial empires to the decolonisation era in the 1960s-70s fills an important gap in recent debt historiographies. Economic historians have engaged with colonialism only reluctantly or en passant, giving credence to the idea that colonialism is not a development that deserves to be treated on its own. This has led to suboptimal developments in recent scholarship. The second contribution adds a 'law and society' dimension to studies of debt. The analytical payoff of the exercise is to capture the current developments and functional limits of debt contracting and adjudication in relation to the long-term political and sociological dynamics of sovereignty. Finally, Sovereign Debt Diplomacies imports insights from, and contributes to the body of research currently developed in the Humanities under the label 'colonial and postcolonial studies'. The emphasis on 'history from below' and focus on 'subaltern agency' usefully complement the traditional elite-perspective on financial imperialism favoured by the British school of empire history.

Poses the question: to what extent did it make a difference to those living in the colonies that made up British North America in the seventeenth and eighteenth centuries that they were part of an empire and that the empire in question was British?

A captivating look at how Abraham Lincoln evolved into one of our seminal foreign-policy presidents—and helped point the way to America’s rise to world power. Abraham Lincoln is not often remembered as a great foreign-policy president. He had never traveled overseas and spoke no foreign languages. And yet, during the Civil War, Lincoln and his team skillfully managed to stare down the Continent’s great powers—deftly avoiding European intervention on the side of the Confederacy. In the process, the United States emerged as a world power in its own right. Engaging, insightful, and highly original, Lincoln in the World is a tale set at the intersection of personal character and national power. Focusing on five distinct, intensely human conflicts that helped define Lincoln’s approach to foreign affairs—from his debate, as a young congressman, with his law partner over the conduct of the Mexican War, to his deadlock with Napoleon III over the French occupation of Mexico—and bursting with colorful characters like Lincoln’s bowie-knife-wielding minister to Russia, Cassius Marcellus Clay; the cunning French empress, Eugénie; and the hapless Mexican monarch Maximilian, Lincoln in the World draws a finely wrought portrait of a president and his team at the dawn of American power. Anchored by meticulous research into overlooked archives, Lincoln in the World reveals the sixteenth president to be one of America’s indispensable diplomats—and a key architect of America’s emergence as a global superpower. Much has been written about how Lincoln saved the Union, but Lincoln in the World highlights the lesser-known—yet equally vital—role he played on the world stage during those tumultuous years of war and division.

How does one package and sell confidence in the stability of a nation riven by civil strife? This was the question that loomed before the Philadelphia financial house of Jay Cooke & Company,&8239;entrusted&8239;by the US government with an unprecedented sale of bonds to finance the Union war effort in the early days of the American Civil War.&8239;How the government and its agents marketed these bonds revealed a version of the war the public was willing to buy and buy into, based not just in the full faith and credit of the United States but also in the success of its armies and its long-term vision for open markets. From Maine to California, and in foreign halls of power and economic influence,&8239;thousands of agents were deployed to&8239;sell&8239;a clear message: Union victory was unleashing the American economy itself. This fascinating work of&8239;financial and political history&8239;during&8239;the Civil War&8239;era&8239;shows&8239;how the marketing and sale of bonds crossed the Atlantic to Europe and beyond, helping ensure foreign countries' vested interest in the Union's success. Indeed, David K. Thomson demonstrates how Europe, and ultimately all corners of the globe, grew deeply interdependent on American finance during, and in the immediate aftermath of, the American Civil War.&8239;