The Industrial Revolution

Bibliographic data

Monograph

Identifikator:: 1027928145

URN:: urn:nbn:de:zbw-retromon-159926

Document type:: Monograph

Author:: Cunningham, William http://d-nb.info/gnd/128907487

Title:: The Industrial Revolution

Place of publication:: Cambridge

Publisher:: The University Press

Year of publication:: 1922

Scope:: xxii S., S. 404-886

Digitisation:: 2021

Collection:: Economics Books

Usage license:: Get license information via the feedback formular.

A.D. 1776 «1850. oho sus- ained heavy 08568. but no permanent damage 372 LAISSEZ FAIRE were to become so prominent in the great struggle with Napoleon, were definitely raised. Hence the indirect effect of the break with the colonies was to bring about a serious dislocation of trade, and to expose the English mercantile marine first to the attacks of American privateers, and sub- sequently to those of other countries. To adequately protect English vessels, against the cruisers of so many different nations, was practically impossible ; it appears that the fright- ful increase of risk, attending all trading operations, was the principal evil of this period, rather than the mere interruption of any one branch of commerce. Some of the rates for insurance for ships appear to have increased from two guineas bo £21 per cent.. This was the period in which the practice of marine insurance came to be regularly adopted by ship- owners; and commercial relations were strained in many directions. But after all, warfare on the high seas was a game in which England was well prepared to take a part, and she played it with much success. The American privateers did less damage than had been anticipated”; the tonnage of British-built shipping increased during the years of the wars, while in a couple of years the Americans lost something like 900 vessels; and the Atlantic coast was exposed to ruthless raids, such as those which destroyed Newhaven in Connecticut and Suffolk in Virginia®, Nor were the tables turned after the European Powers threw themselves into the struggle. “The combined fleets of France and Spain,” as Washington wrote in 1780, “last year were greatly superior to those of the enemy. Nevertheless the enemy sustained no material damage, and ab the close of the campaign gave a very important blow to our allies. This campaign the difference between the fleets will be inconsiderable.... What are we to expect will be the case if there should be another campaign? In all probability the advan- tage will be on the side of the English, and then what would become of America? We ought not to deceive ourselves. The 1 Leone Levi, History, 45. 2 In 1818, “by sound seamanship, by good fortune, and by the neglect of the pnemy an important fleet of merchantmen from the East Indies, another from Lisbon, and a third from Jamaica all arrived in safety.” Lecky, op. cit. Iv. 94. 8 Chalmers, Opinions on subjects arising from American Independence. p. 99 + Lecky. op. cit. Iv. 94. 116.

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