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Towards Modern Public Finance: The American War with Mexico, 1846-1848

£80.00

Product description

This is the first in-depth study to address the financing of the Mexican-American War of 1846-8. Floating the Mexican War loans was the greatest single endeavour of the American financial community during the 1840s. Under President Polk, the Treasury issued three loans totalling $49 million. Investment bankers enthusiastically marketed these treasury notes and bonds directly to the international investing public. Cummings argues that the successful financing of the Mexican-American War had a long-term beneficial effect on American financial institutions and markets. At home, the stability of the Independent Treasury was assured, and abroad, America's international credit standing was restored. Most importantly, the dealing of government issue by investment bankers was a decisive step towards modern public finance.

Internally clean and bright. Slight shelf wear to cover.

Item details

Author(s):
Cummings, James W.
Condition:
Used: good
Edition:
2009 (Financial History Series - Number 7)
Format:
Hardback
ISBN-10:
1851969888
ISBN-13:
9781851969883
Number of pages:
226
Publisher:
Pickering & Chatto
Title:
Towards Modern Public Finance: The American War with Mexico, 1846-1848

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About this item

This is the first in-depth study to address the financing of the Mexican-American War of 1846-8. Floating the Mexican War loans was the greatest single endeavour of the American financial community during the 1840s. Under President Polk, the Treasury issued three loans totalling $49 million. Investment bankers enthusiastically marketed these treasury notes and bonds directly to the international investing public. Cummings argues that the successful financing of the Mexican-American War had a long-term beneficial effect on American financial institutions and markets. At home, the stability of the Independent Treasury was assured, and abroad, America's international credit standing was restored. Most importantly, the dealing of government issue by investment bankers was a decisive step towards modern public finance.

Internally clean and bright. Slight shelf wear to cover.

Author(s):
Cummings, James W.
Condition:
Used: good
Edition:
2009 (Financial History Series - Number 7)
Format:
Hardback
ISBN-10:
1851969888
ISBN-13:
9781851969883
Number of pages:
226
Publisher:
Pickering & Chatto
Title:
Towards Modern Public Finance: The American War with Mexico, 1846-1848

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