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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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Union Finance and Diplomacy, 1861–1865

Union Finance and Diplomacy, 1861–1865

(p.82) 2 Union Finance and Diplomacy, 1861–1865
Debtor Diplomacy

Jay Sexton (Contributor Webpage)

Oxford University Press

This chapter presents the twofold international objectives of the Union: to obtain financial and material support abroad while blocking European powers from recognizing and assisting the Confederacy. It discusses that Salmon P. Chase inherited in early 1861 a Treasury Department that had run a deficit of more than $7 million the previous year. It shows some of the Treasury decisions that Chase made. It also examines Belmont as an excellent Union agent sent to Europe during the war. It assesses the ways on how the U.S. secured financial support in Europe. It presents some of the Union efforts in Europe to minimize and European financial and material support for the Confederacy.

Keywords:   Salmon P. Chase, Belmont, Treasury, Confederacy

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