By Jerry W. Markham
This complete monetary historical past of the U.S. makes a speciality of the expansion and growth of banking, securities and assurance because the colonial interval. The publication breaks down into classes of frenzied hypothesis, quiet progress, panics and livid growth.
Read or Download A Financial History of the United States. (1492-1900) From Columbus to the Robber Barrons PDF
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Extra resources for A Financial History of the United States. (1492-1900) From Columbus to the Robber Barrons
It owned the New World, or so it seemed until England’s King Henry VII refused to recognize the papal bull. 49 Cabot had been given ten pounds sterling as a reward by Henry VII for those discoveries. 50 The English waited almost 100 years after Cabot’s journey before they began serious efforts to colonize the Atlantic coast of America. In the meantime, mercantilism paid off for the Spaniards. Two hundred tons of gold and 18,000 tons of silver were brought from the Americas to Spain between 1521 and 1660.
And incite competition from other sources. 51 Raleigh sent some hundred settlers to establish the Roanoke colony in 1585, but troubles of a financial nature began almost immediately. An Indian stole a silver cup from Sir Richard Grenville, and he burned the Indians’ corn in reprisal. Sir Richard then left the colonists and made for home, capturing a Spanish prize along the way that paid for the expedition. The Roanoke settlers abandoned the colony soon afterwards and returned to England with Sir Francis Drake.
When the European financiers learned of Columbus’s voyage, the New World’s fate was sealed. The Europeans’ lust for gold, wealth, and adventure was an irresistible lure that would focus the energy of Europe. Efforts to exploit the New World began almost immediately after Columbus’s discovery. Columbus would himself make three more journeys to the New World for that purpose. His second expedition involved some seventeen ships and hundreds of men. The finance for that journey was supplied by a sale of assets confiscated from Jews during the Inquisition.