--Jay Sexton, Debtor Diplomacy: Finance and American Foreign Relations in the Civil War Era, 1837-1873 (New York: Oxford University Press, 2014), 136.
Sunday, July 22, 2018
King Cotton
What was proven in 1857, Southern fire-eaters brazenly proclaimed, would be repeated in a civil war. "King Cotton" became a rallying call and source of Southern pride in the run-up to the Civil War. The economic power of cotton soon extended itself to politics and diplomacy. Not only could the "King" shield the South from the vicissitudes of the business cycle, but it could also dictate the policies of European powers. South Carolina Senator James Henry Hammond perhaps best articulated the "King Cotton" theory in 1858.
--Jay Sexton, Debtor Diplomacy: Finance and American Foreign Relations in the Civil War Era, 1837-1873 (New York: Oxford University Press, 2014), 136.
--Jay Sexton, Debtor Diplomacy: Finance and American Foreign Relations in the Civil War Era, 1837-1873 (New York: Oxford University Press, 2014), 136.
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