Title A Hercules in the cradle : war, money, and the American state, 1783-1867 / Max M. Edling

Published Chicago : The University of Chicago Press, 2014 ©2014

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Description 1 online resource (xii, 318 pages) : illustrations Series American beginnings, 1500-1900 American beginnings, 1500-1900. Contents Introduction: war, money, and American history -- A more effectual mode of administration: the constitution and the origins of American public finance -- The soul of government: creating an American fiscal regime -- So immense a power in the affairs of war: the restoration of public credit -- Equal to the severest trials: Mr. Madison's war -- The two most powerful republics in the world: Mr. Polk's war -- A rank among the very first of military powers: Mr. Lincoln's war -- Conclusion: the ideology, structure, and significance of the first American fiscal regime Summary "Two and a half centuries after the American Revolution the United States stands as one of the greatest powers on earth and the undoubted leader of the western hemisphere. This stupendous evolution was far from a foregone conclusion at independence. The conquest of the North American continent required violence, suffering, and bloodshed. It also required the creation of a national government strong enough to go to war against, and acquire territory from, its North American rivals. In A Hercules in the Cradle, Max M. Edling argues that the federal government's abilities to tax and to borrow money, developed in the early years of the republic, were critical to the young nation's ability to wage war and expand its territory. He traces the growth of this capacity from the time of the founding to the aftermath of the Civil War, including the funding of the War of 1812 and the Mexican War. Edling maintains that the Founding Fathers clearly understood the connection between public finance and power: a well-managed public debt was a key part of every modern state. Creating a debt would always be a delicate and contentious matter in the American context, however, and statesmen of all persuasions tried to pay down the national debt in times of peace. A Hercules in the Cradle explores the origin and evolution of American public finance and shows how the nation's rise to great-power status in the nineteenth century rested on its ability to go into debt."--Provided by publisher Bibliography Includes bibliographical references (pages 253-305) and index Notes Print version record Subject War -- Economic aspects -- United States -- History -- 18th century War -- Economic aspects -- United States -- History -- 19th century Finance, Public -- United States -- History -- 18th century Finance, Public -- United States -- History -- 19th century Fiscal policy -- United States -- History -- 18th century Fiscal policy -- United States -- History -- 19th century BUSINESS & ECONOMICS -- Public Finance. Economics Finance, Public Fiscal policy War -- Economic aspects SUBJECT United States -- History, Military -- To 1900 -- Economic aspects Subject United States Genre/Form Electronic books History Military history Form Electronic book ISBN 9780226181608 022618160X 022618157X 9780226181578

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