Professional Documents
Culture Documents
The Rise and Fall of Britain’s North American Empire: The Political Economy of Colonial America Gerald Pollio full chapter instant download
The Rise and Fall of Britain’s North American Empire: The Political Economy of Colonial America Gerald Pollio full chapter instant download
The Rise and Fall of Britain’s North American Empire: The Political Economy of Colonial America Gerald Pollio full chapter instant download
https://ebookmass.com/product/the-rise-and-fall-of-the-danish-
empire-michael-bregnsbo/
https://ebookmass.com/product/the-problem-of-democracy-america-
the-middle-east-and-the-rise-and-fall-of-an-idea-shadi-hamid/
https://ebookmass.com/product/free-traders-elites-democracy-and-
the-rise-of-globalization-in-north-america-malcolm-fairbrother/
https://ebookmass.com/product/the-geography-of-north-america-
environment-culture-economy-2nd-edition-ebook-pdf/
The Rise of Empires: The Political Economy of
Innovation 1st ed. Edition Sangaralingam Ramesh
https://ebookmass.com/product/the-rise-of-empires-the-political-
economy-of-innovation-1st-ed-edition-sangaralingam-ramesh/
https://ebookmass.com/product/the-rise-and-fall-of-the-
neoliberal-order-america-and-the-world-in-the-free-market-era-
gary-gerstle/
https://ebookmass.com/product/the-rise-and-fall-of-the-age-of-
psychopharmacology-edward-shorter/
https://ebookmass.com/product/the-rise-and-fall-of-the-
neoliberal-order-gary-gerstle-2/
https://ebookmass.com/product/the-rise-and-fall-of-the-
neoliberal-order-gary-gerstle/
Gerald Pollio
© The Editor(s) (if applicable) and The Author(s), under exclusive licence to Springer
Nature Switzerland AG 2022
This work is subject to copyright. All rights are solely and exclusively licensed by the
Publisher, whether the whole or part of the material is concerned, specifically the rights of
translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on
microfilms or in any other physical way, and transmission or information storage and retrieval,
electronic adaptation, computer software, or by similar or dissimilar methodology now
known or hereafter developed.
The use of general descriptive names, registered names, trademarks, service marks, etc. in this
publication does not imply, even in the absence of a specific statement, that such names are
exempt from the relevant protective laws and regulations and therefore free for general use.
The publisher, the authors, and the editors are safe to assume that the advice and information
in this book are believed to be true and accurate at the date of publication. Neither the
publisher nor the authors or the editors give a warranty, expressed or implied, with respect to
the material contained herein or for any errors or omissions that may have been made. The
publisher remains neutral with regard to jurisdictional claims in published maps and
institutional affiliations.
This Palgrave Macmillan imprint is published by the registered company Springer Nature
Switzerland AG.
The registered company address is: Gewerbestrasse 11, 6330 Cham, Switzerland
The Wildest chimera that ever disturbed a Madman’s Brain has not less
Foundation in this opinion (because) there are not five Men of Sense in
America who wou’d accept of Independence if it was offered (George
Mason, 1770).1
If we search the whole history of human events, we shall not meet with an
example of such a sudden change, from the most perfect loyalty to universal
disaffection. On the contrary, in every instance where natural attachment
has been generally effaced, it has been effected by slow degrees, and a long
continuance of oppression, not in prospect, but in actual existence.2
The sense of historical destiny that surrounds the Revolution challenges our
capacity to think our way back into the contingencies of the past and to
appreciate how improbable an event it was. Part of that improbability lies
in the record of misguided decisions that led the British government to fulfil
its worst fears by driving the colonists down the road to independence. It took
a peculiarly flawed process of framing bad policies and reacting to the
1
Cover image, ‘Arrival in Jamestown, 1607,’ D. Scott, A School History of the United States
(New York, NY: Harper & Brothers, 1883).
R. Rutland (Ed), The Papers of George Mason, 1725-1792. Vol. 1 (Chapel Hill, NC:
University of North Carolina Press, 1970), p. 129.
2
Joseph Galloway, Letters to a Nobleman on the Conduct of the War in the Middle Colonies.
Second Edition. (London: J. Wilkie, 1779), p. 10.
resulting failures to convince the government of George III and Lord North
that the best way to maintain the loyalty of the North American subjects to
make war on them.3
The long story of the bickerings of British politicians both in and out of office
might be told for still another decade, until the colonies were lost, not wholly
for lack of men of understanding to govern them more wisely, but because,
being divided on other questions, they were seldom able to unite to do what
they knew ought to be done for the salvation of the empire.4
3
J. Rakove, Revolutionaries: Inventing and American Nation (London: William
Heineman, 2010), p. 17.
4
W. Laprade, “The Stamp Act in British Politics,” American Historical Review, 35 (1930),
735-757, p. 757.
Acknowledgements
The author and publishers would like to thank the following for allowing
the use of copyright material.
Bank of England for Charts 3 and 4 from A Millennium of Macroeconomic
Data, V3.1, 2 March 2017.
Econ Journal Watch for Chart 6 from F. Grubb, “Theory, Evidence,
and Belief—The Colonial Money Puzzle Revisited: Reply to Michener
and Wright,” Econ Journal Watch, 3 (2006).
Elsevier Science for:
vii
Contents
Part I Introduction 1
2 Labour 15
2.1 Slave Labour 21
5 Industry 75
ix
x Contents
11 Nonimportation157
12 Confiscation177
13 Repudiation195
14 Foreign Loans203
15 Fiat Money?213
Conclusion235
Index237
List of Charts
xi
xii List of Charts
xiii
PART I
Introduction
1
On the background and impact of Hamilton’s Report see L. Hacker, “The Report on
Manufactures,” The Historian, 19 (1957) 144–167 and D, Ben-Atar, “Alexander Hamilton’s
Alternative: Technology Piracy and the Report on Manufactures,” William and Mary
Quarterly, 52 (1995) 389–414.
2
G. Clarfield, “Protecting the Frontiers: Defense Policy and the Tariff Question in the
First Washington Administration,” William and Mary Quarterly, 32 (1975) 443–464, p. 459.
3
‘Hamilton was not as much of a protectionist as he is sometimes made out to be. Although
Hamilton’s moderate tariff policies found support among merchants and traders, the back-
bone of the Federalist party, disappointed domestic manufacturers soon came to embrace the
much more draconian trade policies of the Republican party led by Jefferson and Madison,’
D. Irwin, “The Aftermath of Hamilton’s “Report on Manufactures”, Journal of Economic
History, 64 (2004) 800–821, pp. 820–821. On the differences in Hamiltonian and
Jeffersonian economic policies see J. Dorfman, “The Economic Philosophy of Thomas
Jefferson,” Political Science Quarterly, 55 (1940) 98–121.
1 HISTORICAL AND POLITICAL BACKGROUND 5
Notwithstanding that tax rates varied widely across American colonies, the
overall tax burden was significantly lower than that in England. The British
government maintained that in consequence considerable fiscal capacity
existed; moreover, the expenditure it was meant to support was their own
defence. Americans resisted all such measures, as they were viewed not
only as an attempt to shift the burden of expenditure from the Exchequer
to the colonies but, in doing so, affronted their rights as Englishmen.
Customs duties, the principal and traditional source of colonial revenues,
were acceptable, excises were not, since under English law they required
the consent of those being taxed.
Unlike the Scots, Americans were not represented in Parliament. True,
neither were the principal English cities, which nevertheless accepted the
principle of ‘virtual representation,’ something the Americans were unwill-
ing to do. Prominent English statesmen and merchants argued in favour
of American representation in Parliament, which the government refused
to consider. Nor were such arguments predicated on constitutional prin-
ciples alone. America had become an economic power so that the boycotts
and nonimportation agreements adopted in reaction to the policies
enacted by Parliament threatened British prosperity, compelling the gov-
ernment to rescind each of the major fiscal measures approved during the
1760s. The possibility for compromise evaporated following the Boston
Tea Party to which the British government responded with the passage of
the Intolerable (or Coercive) Acts, Parliament’s vain attempt to reimpose
strict British control over the American colonies; after ten years of vacilla-
tion, the decision to be firm with the American colonies was too late.
Rather than coercing compliance, the measures became the justification
for convening the First Continental Congress later in 1774.
The British treasury anticipated revenue of more than £2 million from
the Sugar, Stamp, and Townshend Acts, the actual amount collected
totalled £343,000, about a sixth of the hoped-for sum; adding in revenues
from the earlier Navigation Acts contributed an additional 7 per cent.4
Bounties, drawbacks, and export subsidies in the form of cash benefits to
colonial planters and consumers of imported goods more than offset the
total amount of revenue collected. Even the more nuanced assessments of
the impact of the Navigation Acts conclude the losses associated with the
4
A. Rabushka, Taxation in Colonial America (Princeton University Press, 2008),
Table 25.4, p. 755.
6 G. POLLIO
5
Thomas and McCloskey estimate that if Virginia planters could trade freely with other
European nations, they would have earned a third more on their tobacco sales. Enumerated
commodities accounted for c. one-half of the colonies’ commodity exports; commodities
were three-quarters of all exports (shipping included), and exports constituted one-seventh
of colonial income. Altogether the Trade and navigation Acts raised colonial income by
about 1.8 per cent. R. Thomas and D. McCloskey, “Overseas Trade and Empire, 1700–1860,”
in R. Floud and D. McCloskey (Eds.) The Economic History of Britain since 1700 (Cambridge,
UK and New York: Cambridge University Press, 1981).
6
Rabushka, Taxation in Colonial America, p. 764.
1 HISTORICAL AND POLITICAL BACKGROUND 7
7
D. Irwin, Clashing Over Commerce: A History of U.S. Trade Policy (Chicago: University
of Chicago Press, 2017), p. 38. Irwin provides a balanced assessment of the impact of the
Navigation Acts in the light of current research. See especially Chapter 1, pp. 35–38.
8
E. Burke, Observations on a Late State of the Union (London: J. Dodsley, 1769). As late
as 1775 Burke continued to advocate a conciliatory policy towards the American colonies.
His attempts at conciliation were rejected by Parliament. Welbore Ellis speaking for the
majority argued that ‘the greater disposition Great Britain shewed towards conciliation, the
more obstinate, rebellious, and insolent America would become.’ Criticism of Burke’s pro-
posals outside Parliament was even more scathing. On 22 March 1775, Josiah Tucker
observed: ‘Why truly, if we will grant the Colonies all that they shall require, and stipulate for
nothing in Return; they will be at Peace with us. I believe it; and on these simple Principles
of simple Peace-making I will engage to terminate every Difference throughout the World.’
Pp. 6–7. Cited in H. Dickinson. “The Failure of Conciliation: Britain and the American
Colonies 1763–1783, Kyoto Economic Review, 79 (2010) 2–20.
Another random document with
no related content on Scribd:
Walton. THE LIVES OF DONNE, WOTTON, HOOKER, HERBERT
AND SANDERSON. By Izaak Walton. With an Introduction by
Vernon Blackburn, and a Portrait. 3s. 6d.
Johnson. THE LIVES OF THE ENGLISH POETS. By Samuel
Johnson, LL.D. With an Introduction by J. H. Millar, and a
Portrait. 3 vols. 10s. 6d.
Burns. THE POEMS OF ROBERT BURNS. Edited by Andrew
Lang and W. A. Craigie. With Portrait. Second Edition. Demy
8vo, gilt top. 6s.
F. Langbridge. BALLADS OF THE BRAVE; Poems of Chivalry,
Enterprise, Courage, and Constancy. Edited by Rev. F.
Langbridge. Second Edition. Cr. 8vo. 3s. 6d. School Edition,
2s. 6d.
‘The book is full of splendid things.’—World.
Crown 8vo. Each Volume, cloth 3s. net; leather 4s. 6d. net.
With Introductions by Mr. George Gissing, Notes by Mr. F. G.
Kitton, and Topographical Illustrations.
THE PICKWICK PAPERS. With Illustrations by E. H. New. Two
Volumes.
‘As pleasant a copy as any one could desire. The notes add much to the value
of the edition, and Mr. New’s illustrations are also historical. The volumes
promise well for the success of the edition.’—Scotsman.
NICHOLAS NICKLEBY. With Illustrations by R. J. Williams. Two
Volumes.
BLEAK HOUSE. With Illustrations by Beatrice Alcock. Two
Volumes.
OLIVER TWIST. With Illustrations by G. H. New.
THE OLD CURIOSITY SHOP. With Illustrations by G. M. Brimelow.
Two Volumes.
BARNABY RUDGE. With Illustrations by Beatrice Alcock. Two
Volumes.
Little Biographies
History
Byzantine Texts.
Biography