Economic Nationalism Quotes



This was in response to English Emissaries who wanted to establish trading businesses in China. The Emperor would not even meet personally with Lord McCartney, the first British envoy because McCartney would not kow-tow to the Emperor. The “hongs” were special businesses set up by Chinese businessmen who had paid the Proper fee, for the purposes of being traders with foreigners. Canton, now Guangzhou, is 150 years later still the major international trading center in China although there are no longer restrictions. At the time, the British paid for their Chinese good with Opium that they had purchased in their Indian Colony. English cloth and other goods would be sent to India, traded for opium, which was brought to China and traded for tea, silks and porcelain which were returned to England and turned into cash than was worth much more than their original purchase and the cost of the voyage.


In England at the time, the liberals were for free trade and the conservatives against. In both England and America both liberals and conservatives have flip flopped their roles in foreign trade several times. Free trade is a two edged sword; it aids domestic growth, employment and prosperity in some cases and hurts them on others. And there are always winners and losers for each example of free trade within any country. The result is no long term commitment and much flip flopping.


Earlier, Jefferson was opposed to manufacturing in America as factories were a social blight in Europe which he wanted to keep out of the United States. He felt that we could import whatever we needed from Europe and not have the evils of industrialization. However, with the War of 1812, the Barbary Pirates and his mellowing when no longer President, and his willingness to change his positions as he learned more, he issued this letter. See another the following year: {615634}. His was considered such an important change of position—today we would accuse him of a flip flop— that other journals and periodicals reprinted the letter and commented upon his change. Despite his changed position, most Americans believe that Jefferson was opposed to manufacturing and industrialization for his entire life—not just the first part.