Defying Empire
Defying Empire

Author: Thomas M. Truxes

Publisher: Yale University Press

Published: 2008-11-18

Total Pages: 305

ISBN-13: 0300150431

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This enthralling book is the first to uncover the story of New York City merchants who engaged in forbidden trade with the enemy before and during the Seven Years’ War (also known as the French and Indian War). Ignoring British prohibitions designed to end North America’s wartime trade with the French, New York’s merchant elite conducted a thriving business in the French West Indies, insisting that their behavior was protected by long practice and British commercial law. But the government in London viewed it as treachery, and its subsequent efforts to discipline North American commerce inflamed the colonists.Through fast-moving events and unforgettable characters, historian Thomas M. Truxes brings eighteenth-century New York and the Atlantic world to life. There are spies, street riots, exotic settings, informers, courtroom dramas, interdictions on the high seas, ruthless businessmen, political intrigues, and more. The author traces each phase of the city’s trade with the enemy and details the frustrations that affected both British officials and independent-minded New Yorkers. The first book to focus on New York City during the Seven Years’ War, Defying Empire reveals the important role the city played in hastening the colonies’ march toward revolution.

Bankrupting the Enemy
Bankrupting the Enemy

Author: Edward Miller

Publisher: Naval Institute Press

Published: 2012-10-11

Total Pages: 356

ISBN-13: 161251118X

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Award-winning author Edward S. Miller contends in this new work that the United States forced Japan into international bankruptcy to deter its aggression. While researching newly declassified records of the Treasury and Federal Reserve, Miller, a retired chief financial executive of a Fortune 500 resources corporation, uncovered just how much money mattered. Washington experts confidently predicted that the war in China would bankrupt Japan, not knowing that the Japanese government had a huge cache of dollars fraudulently hidden in New York. Once discovered, Japan scrambled to extract the money. But, Miller explains, in July 1941 President Roosevelt invoked a long-forgotten clause of the Trading with the Enemy Act of 1917 to freeze Japan s dollars and forbade it to sell its hoard of gold to the U.S. Treasury, the only open gold market after 1939. Roosevelt s temporary gambit to bring Japan to its senses, not its knees, was thwarted, however, by opportunistic bureaucrats. Dean Acheson, his handpicked administrator, slyly maneuvered to deny Japan the dollars needed to buy oil and other resources for war and for economic survival. Miller's lucid writing and thorough understanding of the complexities of international finance enable readers unfamiliar with financial concepts and terminology to grasp his explanation of the impact of U.S. economic policies on Japan. His review of thirty-seven studies of Japan's resource deficiencies begs the question of why no U.S. agency calculated the impact of the freeze on Japan's overall economy. His analysis of a massive OSS-State Department study of prewar Japan clearly demonstrates that the deprivations facing the Japanese people were the country to remain in financial limbo buttressed its choice of war at Pearl Harbor. Such a well-documented study is certain to be recognized for its significant contributions to the historiography of the origins of the Pacific War.

Trading with the Enemy
Trading with the Enemy

Author: John Shovlin

Publisher: Yale University Press

Published: 2021-07-13

Total Pages: 423

ISBN-13: 0300258836

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A ground-breaking account of British and French efforts to channel their eighteenth-century geopolitical rivalry into peaceful commercial competition Britain and France waged war eight times in the century following the Glorious Revolution, a mutual antagonism long regarded as a “Second Hundred Years’ War.” Yet officials on both sides also initiated ententes, free trade schemes, and colonial bargains intended to avert future conflict. What drove this quest for a more peaceful order? In this highly original account, John Shovlin reveals the extent to which Britain and France sought to divert their rivalry away from war and into commercial competition. The two powers worked to end future conflict over trade in Spanish America, the Caribbean, and India, and imagined forms of empire-building that would be more collaborative than competitive. They negotiated to cut cross-channel tariffs, recognizing that free trade could foster national power while muting enmity. This account shows that eighteenth-century capitalism drove not only repeated wars and overseas imperialism but spurred political leaders to strive for global stability.

Termites in the Trading System
Termites in the Trading System

Author: Jagdish Bhagwati

Publisher: Oxford University Press

Published: 2008-07-14

Total Pages: 160

ISBN-13: 0199715904

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Jagdish Bhagwati, the internationally renowned economist who uniquely combines a reputation as the leading scholar of international trade with a substantial presence in public policy on the important issues of the day, shines here a critical light on Preferential Trade Agreements, revealing how the rapid spread of PTAs endangers the world trading system. Numbering by now well over 300, and rapidly increasing, these preferential trade agreements, many taking the form of Free Trade Agreements, have re-created the unhappy situation of the 1930s, when world trade was undermined by discriminatory practices. Whereas this was the result of protectionism in those days, ironically it is a result of misdirected pursuit of free trade via PTAs today. The world trading system is at risk again, the author argues, and the danger is palpable. Writing with his customary wit, panache and elegance, Bhagwati documents the growth of these PTAs, the reasons for their proliferation, and their deplorable consequences which include the near-destruction of the non-discrimination which was at the heart of the postwar trade architecture and its replacement by what he has called the spaghetti bowl of a maze of preferences. Bhagwati also documents how PTAs have undermined the prospects for multilateral freeing of trade, serving as stumbling blocks, instead of building blocks, for the objective of reaching multilateral free trade. In short, Bhagwati cogently demonstrates why PTAs are Termites in the Trading System.