Slave Agriculture and Financial Markets in Antebellum by Richard Holcombe Kilbourne Jr

By Richard Holcombe Kilbourne Jr

Bargains the examine of Antebellum southern slavery and the credits procedure. This paintings explains how the financial institution of the USA supported the government's and the nation's credits in another country through delivering doubtless unlimited credits amenities to southern planters, in particular within the territories alongside the reduce Mississippi River.

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Additional info for Slave Agriculture and Financial Markets in Antebellum America: The Bank of the United States in Mississippi, 1831-1852 (Financial History) (Volume 6)

Sample text

They should be returned to the Bank where issued, and not paid at your counter, because they in fact will then occupy the place of your own. 51 In November 1831 Tichnor wrote to William McIlvaine, the cashier of the Bank of the United States at Philadelphia, that the stockholders of his institution would likely vote to place the bank in liquidation, in which case ‘the field w[ould] be open for the employment of a much larger amount of capital by [the Natchez branch] … than c[ould] … [then] be profitably used’.

Cent in Commission to … [its] Agents abroad on all … remittances, for which [the Bank of the United States] … [should] have an equivalent …’ In taking an additional quarter percent from the Bank of the State in lieu of customary brokerages, which were substantially more, the Bank of the State was receiving the most favorable rate commensurate with prevailing conditions in the Philadelphia money market. McIlvaine further informed Duncan that the Bank of the United States declined paying a higher premium for the bills remitted from Natchez.

Some assert that the patriarchal organization of extended families was pervasive in the formation of plantation agriculture, a condition that accounts for the distinctiveness of the South’s economic and social development. The argument here is not that patriarchy is irrelevant for gaining insights about social relations in a set of related households. The family is, after all, the most elementary organization for spreading risks among those who claim kinship to one another. Rather, when grappling with that most illusive of institutions, the organization of financial relations, we must conclude that successful antebellum planters looked far and wide for help in mediating their risks.

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