Chapter

The Course of Trade

Peter J. Marshall

in Remaking the British Atlantic

Published in print March 2012 | ISBN: 9780199640355
Published online May 2012 | e-ISBN: 9780191739279 | DOI: http://dx.doi.org/10.1093/acprof:oso/9780199640355.003.0014
The Course of Trade

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Peace was followed by a boom in the export of British manufactured goods to the United States, payment for which was to be an acute problem. Although British merchants continued to handle a considerable part of America's exports, large debts were quickly added to those left from the war. Debt was to cause much Anglo‐American acrimony. By 1790, however, more balanced commercial relations were developing. America was adding great consignments of wheat to its old staple exports, its earnings from shipping were increasing and British investment was flowing into American funds. In a closely integrated British Atlantic world, national distinctions meant little to merchants, to ship owners or to the seamen who manned the ships. Attempts on both the British and the American side to develop clearly demarcated national merchant marines had only limited success.

Keywords: exports; manufactured goods; debt; wheat; American funds; shipping; merchants; seamen

Chapter.  12077 words. 

Subjects: Modern History (1700 to 1945)

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