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Lincoln blockaded southern cotton, McKinley hit Britain with tariffs and Nixon abandoned the gold standard: a quick history of transatlantic economic meddlingAfter the American civil war began in 1861, President Abraham Lincoln tried to hamstring the economy of the southern states by blockading cotton exports. Yet that cotton was mostly sent to northwest England, and when supplies dried up in 1862, around 60% of cotton mills of Lancashire stopped production, causing huge hardship, job losses and hunger – and a riot in Stalybridge. Continue reading…
Lincoln blockaded southern cotton, McKinley hit Britain with tariffs and Nixon abandoned the gold standard: a quick history of transatlantic economic meddling
After the American civil war began in 1861, President Abraham Lincoln tried to hamstring the economy of the southern states by blockading cotton exports. Yet that cotton was mostly sent to northwest England, and when supplies dried up in 1862, around 60% of cotton mills of Lancashire stopped production, causing huge hardship, job losses and hunger – and a riot in Stalybridge.
