Financing Armed Conflict, Volume 1 by Thomas M. Meagher

Author:Thomas M. Meagher
Language: eng
Format: epub
Publisher: Palgrave Macmillan US, New York

Ways

Pre-War Grand Strategy

The Jacksonians came into power as foreign policy realists, focusing on domestic issue but rejecting isolationism. Like the Jeffersonians, they remained unenthusiastic about involvement in foreign adventures. To that end, the Jacksonians tended to narrowly define American interests. Slow to focus on specific foreign policy issues, they were even more reluctant to strongly pursue these issues, although once engaged, they remained fixated on their end objective with little desire to change course in midstream. Moreover, they were not afraid to use force, albeit with a degree of concern regarding how much force would be necessary to accomplish their objective. 8

The issue of slavery began to dominate American politics beginning in 1820 with the passage of the Missouri Compromise. In 1817, a territorial government was established in anticipation of the admittance of Missouri as a new state. Under the terms of the 1787 compromise, Missouri would be admitted as a free state. However, an influx of slave owners changed the demographic balance in the territory; by 1818, it was clear Missouri would enter the Union as a slave state. Another compromise was reached in 1820 where Missouri and Maine would be admitted as slave and free states respectively, while the territories obtained as part of the Louisiana Purchase would be defined as either free or slave states prior to accession into the Union. 9

Mexico by contrast veered from political crisis to political crisis. Between 1821 and 1856, 33 different administrations governed through four different constitutional arrangements. Moreover, both the Catholic Church and the army were important players in the political area; in particular, the government was reluctant to tax the Church to help meet expenses, which typically exceeded revenues. To that end, Mexico was forced to turn to the international financial markets with some success. In 1824, Mexico was able to secure two loans of 16 million peso thirty year bonds each, although the government received far less after discounts and fees. To support the bonds, Mexico pledged its total general revenues and one-third of the custom receipts gathered in her Gulf ports. 10

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