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University of Iowa Studies in the Social Sciences (Volume 8)

University of Iowa Studies in the Social Sciences (Volume 8)


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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1809. Excerpt: ... CHAPTER VIII EFFECT OF THE EMBARGO ON AGRICULTURE Decidedly unlike the effect on manufactures was the effect of the embargo on agriculture. This effect, already referred to in the debates, will be discussed under the following heads: price of produce, value of real estate, payment of debts, speculation, and general effect on the various sections of the country. Congressional debates abound with references to unsold crops and low prices of agricultural products. On November 17, 1808, Nathaniel Macon of North Carolina, a friend of the embargo, admitted that crops remained unsold.1 On November 28, Josiah Quincy and Ezekiel Bacon of Massachusetts, the former an opponent and the latter a friend of the embargo, seemed to be agreed that beef, pork, butter, cheese, and other products commonly exported sold at a lower price than formerly, whereas imported products as tea, sugar, salt, West India rum, and molasses sold at a higher price.2 Two days later, George M. Troup of Georgia, a friend of the embargo, contended that the South had suffered as much from that measure as the North. He declared that the ordinary market price of cotton was between eighteen and twenty-two cents, whereas the embargo price was ten to twelve, that the ordinary price of rice was from five to six dollars, whereas the embargo price was two to three.3 A month later, December 27, James Sloan of New Jersey, an opponent of the embargo, declared that domestic produce had fallen one-half in value, while imported products had risen in the same proportion, because of the embargo.4 Over a month later, January 31, 1809, John Rhea of Tennessee, a former friend of the embargo, now speaking for repeal on the fourth of March, said that the agricultural interest had "to its great disadvantage, endured fo...


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Product Details
  • ISBN-13: 9781150527852
  • Publisher: General Books
  • Publisher Imprint: General Books
  • Height: 246 mm
  • No of Pages: 254
  • Spine Width: 13 mm
  • Width: 189 mm
  • ISBN-10: 1150527854
  • Publisher Date: 01 Feb 2012
  • Binding: Paperback
  • Language: English
  • Returnable: N
  • Weight: 458 gr


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