Trade Promotion Quotes
This has been a difference between England and the United States. The former has always been much more active in promoting business and industry abroad—even forming Government chartered companies for the purpose. In America, the major responsibility has been that of the private companies. When the Government has aided a particular company in an industry, other companies ask why that company and not mone? Other industries argue that if you help sell airplanes who not lawnmowers or dresses.
The entire exploration, founding and colonization of New York was a business enterprise right from the start.
All money has based on the Gold Standard then. But the economic output of the American colonies was increasing rapidly. If the money supply stays fixed, there is a shortage of money and this then inhibits further growth, Franklin realized this and called for an increase in the money supply. He was only 23 years old when he wrote this essay and had these insights.
This quotation is interesting as it shows that and the end of the 19th century, although the United States was over 100 years old, we were first beginning to be major world traders. Not that our merchant marine was not yet world class. Another interesting facet of the quote is that the President was claiming that foreign trade was good for the domestic economy. Much of America in its first 100 years supported protectionism for American manufacturers.
In China, the religious activities of the Missionaries never really lead to the many troubles between the missionaries and the Chinese. It was their activities in the non-religious arenas articulated here by Denby.
Subsidies for Economic Development are not a modern invention.
