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Debtor DiplomacyFinance and American Foreign Relations in the Civil War Era 1837-1873$
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Jay Sexton

Print publication date: 2005

Print ISBN-13: 9780199281039

Published to Oxford Scholarship Online: January 2010

DOI: 10.1093/acprof:oso/9780199281039.001.0001

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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (www.oxfordscholarship.com). (c) Copyright Oxford University Press, 2020. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 25 February 2020

Introduction: Finance and Foreign Relations in the Mid-nineteenth Century

Introduction: Finance and Foreign Relations in the Mid-nineteenth Century

(p.1) Introduction: Finance and Foreign Relations in the Mid-nineteenth Century
Debtor Diplomacy

Jay Sexton (Contributor Webpage)

Oxford University Press

This chapter focuses on how the leaders of the United States conducted a financial diplomacy during the mid-19th century, particularly with Britain. It reveals the considerable extent to which financial considerations moulded American foreign policy. It discusses that the foreign indebtedness of the United States, however, did not always result in harmonious foreign relations. It shows that European capital helped finance American expansion, particularly during the Mexican War. It also highlights that the type of foreign investment in the United States also played a role in the merging of finance and diplomacy. It stresses that it was not British ‘informal imperialism,’ but the combination of American ‘debtor diplomacy’ and financial class in Europe, primarily London, that was often eager to invest in U.S. securities that accounts for the intersection of finance and foreign relations in this period.

Keywords:   Britain, United States, indebtedness, foreign policy, financial diplomacy, Mexican War, European capital, foreign relations

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