bluuebunny/crossref_metadata_2025 huggingface dataset:
Household Wealth in a Settlement Economy: Utah, 1850–1870
Authors: Kearl J.R. , Pope Clayne L. , Wimmer Larry T.
Published: May 2010

The economics of David Ricardo and the contemporary evidence for the economic importance of information suggest that time of entry into an economy should be an important determinant of wealth. This hypothesis is validated for nineteenth-century Utah, since time of entry into the economy had a larger impact on the level of wealth than did occupation, birthplace, sex, region of settlement, or age. This finding suggests that the effect on wealthholding of variables often given a discriminatory interpretation such as foreign birth may be overstated if time of entry into the economy is ignored. It also helps to explain the increase in inequality as the settlement process continues.

returned, and saw under the sun, that the race is not to the swift, nor the battle to the strong neither yet bread to the wise, nor yet riches to men of understanding, nor yet favor to men of skill; but time and chance happeneth to them all.
The Efficiency of the French-Canadian Farmer in the Nineteenth Century
Authors: Lewis Frank , McInnis Marvin
Published: May 2010

This paper examines the widely held view that the French-Canadian farmers of Lower Canada in the early nineteenth century were notably backward and inefficient. Data from the Canadian census of 1851–1852 are used to estimate agricultural output and factor inputs for a large number of parishes and townships. The estimated differential between French and English districts in total factor productivity is shown to be small and probably not significant. The conclusion casts doubt on the importance of ethnic differentials in farm practice as a source of agricultural retardation in Lower Canada.
The Persistence of Open-Field Farming in Nineteenth-Century France
Authors: Grantham George W.
Published: May 2010

The enclosure of the open fields is an example of Europeans' willingness to alter long-standing social and economic institutions in the interest of higher living standards. In Scandinavia, England, and Germany the rise in the value of enclosed relative to unenclosed land induced widespread abandonment of open-field forms of agrarian organization by the middle of the nineteenth century. In France, on the other hand, the traditional patterns of landholding maintained themselves until after the First World War. This paper examines some of the ways French farmers responded to the possibilities of agricultural change within the traditional framework of open-field agriculture.
Economic Regulation and the Colonial Economy: The Maryland Tobacco Inspection Act of 1747
Authors: Schweitzer Mary Mckinney
Published: May 2010

In 1747 the colony of Maryland enacted a law to improve the general quality of tobacco exports. Tobacco prices rose significantly after the law went into effect, while total tobacco exports continued to increase. The widespread use of tobacco as money, coupled with the exchange of inspection notes for tobacco at inspection sites, led to changes in the Maryland money supply due to the law. Transaction costs fell as a result of marketing all Maryland tobacco through inspection warehouses. The law also appears to have accelerated the trend toward diversification of the economy.
Agricultural Growth against a Land Resource Constraint: A Comparative History of Japan, Taiwan, Korea, and the Philippines
Authors: Kikuchi Masao , Hayami Yujiro
Published: May 2010

A common element revealed by comparative history of four Asian countries is a major shift in the momentum of agricultural growth from an extension of cultivation frontiers to an agricultural system that uses land more intensively. Improvements in land infrastructure, such as irrigation and drainage, are identified as preconditions for the development of land-saving farming technology. Public investments in land infrastructure were induced by the higher rates of return to irrigation construction and improvements than to new land opening.
Western Settlement and the Price of Wheat, 1872–1913
Authors: Harley C. Knick
Published: May 2010

The expansion of staple agriculture into the American West after the Civil War was an important event in the economic history of both the United States and the world. This migration of commercial farmers transformed the world's commodity markets. We would expect to find that these farmers were responding to price signals in a commercial fashion. Curiously, the existing literature has failed to detect a price responsiveness in western expansion. This failure appears to stem from a lack of appreciation of the importance of the spatial distribution of prices in the late nineteenth century. This study shows that when this factor is considered, the expansion of western cultivation clearly is connected to the prevailing local price of wheat.
Hard Driving and Efficiency: Iron Production in 1890
Authors: Berck Peter
Published: May 2010

This paper shows that the best practice of American methods for producing iron in 1890 was slightly better than the methods employed in Great Britain. It argues that the difference in technique was not of sufficient magnitude to have any bearing on Britain's “decline” as an industrial power. Profits in America are shown to be quite large, and it is hypothesized that these profits arose because the Americans did not anticipate the growth in the demand for pig iron.
Economic Opportunity and the Responses of “Old” and “New” Migrants to the United States
Authors: Dunlevy James A. , Gemery Henry A.
Published: May 2010

The hostile and patronizing attitudes of native Americans toward the increasing number of immigrants from southern and eastern Europe at the turn of the century raise a number of issues that bear on the history of U.S. immigration policy and on other matters. Utilizing Zellner's SUR technique, a model of settlement patterns of ten immigrant nationalities is estimated, and the appropriate F-statistics are generated to test several of these issues: (1) Did “new” immigrants behave as purposefully as contemporaneous “old” migrants from northwestern Europe? (2) Did they react as did the old migrants to a variety of socioeconomic factors? (3) Were the new migrants more dependent on the cultural support of earlier migrated countrymen? The findings indicate diverse, but purposeful, behavior within both the new and the old migrant groups with few systematic differences between them.
The Household Balance Sheet and the Great Depression
Authors: Mishkin Frederic S.
Published: May 2010

This paper focuses on changes in household balance sheets during the Great Depression as transmission mechanisms which were important in the decline of aggregate demand. Theories of consumer expenditure postulate a link between balance-sheet movements and aggregate demand, and applications of these theories indicate that balance-sheet effects can help explain the severity of this economic contraction. In analyzing the business cycle movements of this period, this paper's approach is Keynesian in character in that it emphasizes demand shifts in particular sectors of the economy; yet it has much in common with the monetarist approach in that it views events in financial markets as critical to our understanding of the Great Depression.
On Avoiding Babel
Authors: Landes David
Published: May 2010

More and more it seems that presidential addresses are an occasion for reflecting on matters of method and on the nature of scholarly disciplines. Perhaps this is because these addresses are usually given after dinner, and sated audiences are notoriously indifferent to specialized scholarship. But today we are inaugurating an innovation and have scheduled this talk for an earlier hour. This is not because we feared the membership would be too sleepy after eating to pay attention—you may be just as sleepy after a long day of papers and discussions—but rather to free you all for the gastronomic and touristic pleasures of New Orleans by night. And so, if I may presume on your gratitude for this thoughtfulness, I should like to put before you some of my own reflections on the character and direction of our discipline. I do so the more readily because I am the first president of the Association in some years now to have come to economic history from the side of history. This, I may say, is in itself a capsule symptom of the changes in the profession.
The Achievements of the Cliometric School
Authors: McCloskey Donald N.
Published: May 2010

The members of the Association must be sick to death of “The Achievements of the Cliometric School.” The health of a field, it is said, is inversely proportional to the percentage of essays on method, by which standard cliometrics itself was sick to death in childhood and is only just now recovering. The few essays on method appearing nowadays are usually commissioned, lack revolutionary fervor, and have become as predictable as sportswriting: gee whiz, how extraordinary has been the growth of cliometrics; cliometrics, of course, is gravely limited by its attachment to neoclassical economics; do not be alarmed by counterfactuals. Essays on method, like articles on the sportspage, irritate the players (nobody loves a critic), flatter the owners (in whose pay he sometimes labors), and hearten the loyal fen (with the written equivalent of the chant “We're number one”). They foreshadow the post-season banquets and their awards: Most Valuable Scholar, Best Book Reviewer (Golden Glove), or, in another mode, Best Historian in a Supporting Role, and Farce of the Year.
Achievements of the Annales School
Authors: Forster Robert
Published: May 2010

In his presidential address last year Robert Gallman quoted a letter written by Lucien Febvre to Marc Bloch. Febvre and Bloch were the first editors of the journalAnnales, and Febvre's exhortation on this occasion to break down the barriers among the social sciences was only one among many. Gallman's “Notes on the New Social History” would have pleased both French scholars, especially the allusion to verve and “trumpet call.” Today we are concerned with the role of economics in the galaxy of disciplines theAnnalesclaim to unify in their “grand alliance.”
Economic Structure and National Goals—The Jewish National Home in Interwar Palestine
Authors: Metzer Jacob
Published: May 2010

The formation of the Jewish national home in Palestine provides an opportunity to examine the economics of an unusual “nation building”: the planning and making of a national existence without a state. The revival of Jewish nationality in Palestine started in the late nineteenth century with the first immigration motivated by national ideology (Alia Rishona) and with, the establishment of the World Zionist Organization (1897), whose goal was to create a Jewish political entity and ultimately a state. It was not, however, until the end of World War I that the revival achieved momentum. The Balfour Declaration (November 1917) proclaiming Britain's intention to promote the formation of a Jewish national home in Palestine and the establishment of the British mandate in Palestine after the war provided the supportive political environment for the renewal of Jewish nation building. Moreover, both the League of Nations (which officially granted Britain the mandate) and the British government recognized the Zionist Organization as the legitimate representative of world Jewry and as the leading body of the emerging Jewish community in Palestine for matters concerning the national home. This gave the Zionist Organization an international legitimacy to add to its legitimacy among Jews as a quasi-governmental institution for the purpose of re-establishing their national existence.
An Econometric Model of National Income, Commercial Policy and the Level of International Trade: The Open Economies of Europe, 1924–1938
Authors: Friedman Philip
Published: May 2010

The history of European trade is replete with cases of aggressive and restrictive commercial policies. These policies were part of the permanent nature of economic relationships among European nations from feudalism onward. Keynes' golden age passage inThe Economic Consequences of the Peaceexaggerates the extent to which prewar Europe was a free trade zone.
The Immigrant, Economic Opportunity and Type of Settlement in Nineteenth-Century America
Authors: Kirk Gordon W. , Kirk Carolyn Tyirin
Published: May 2010

Since the publication of Frederick Jackson Turner's famous essay, historians have implicitly recognized the significance of community characteristics on levels of economic opportunity. Nevertheless, even though the last two decades have witnessed the publication of a number of occupational mobility studies of a wide variety of communities, the nature of the community under examination has been largely overlooked. Thus, while the authors of these studies have frequently found different levels of mobility, the practical necessity of focusing on one community in these undertakings has precluded any systematic attempt either to explain variances among communities or to measure precisely the impact of community characteristics on levels of opportunity.
Economic Opportunities and Some Pilgrims' Progress: Jewish Immigrants from Eastern Europe in the U.S., 1890–1914
Authors: Kahan Arcadius
Published: May 2010

The purpose of the following essay is to evaluate the existing economic opportunities for Jewish immigrants from Eastern Europe and to indicate the pace of their economic progress during the period 1890–1914. This purpose can best be achieved by viewing the mass migration of these European Jews in the proper perspective, that is, in terms of the dynamics of their situation at the places of original habitat; second, by differentiating successive cohorts of immigrants in terms of their skill composition, literacy, and degree of experienced urbanization, all elements important for the adaptability to and utilization of existing economic opportunities; third, by analyzing the structure of the U.S. industries that provided employment opportunities to the East European Jewish immigrants; fourth, by assuming the income level and standard of living of the native-born labor force as the yardstick for measuring the economic progress of the immigrants. Such an approach may broaden our understanding of the mechanism of adjustment that enabled the Jewish immigrants from Eastern Europe both to take advantage of existing economic opportunities and to create new ones.
Denominational Factors in Nineteenth-Century Currency Experience
Authors: Timberlake Richard H.
Published: May 2010

The possession of a few copper cents [in 1862] meant that the owner could ride [the street car] rather than walk…. It meant that he could buy a postage stamp without an altercation with the clerk, or a cigar without receiving in change a handful of the dealer's own manufactured currency.
The Increasing Poverty of the Samurai in Tokugawa Japan, 1600–1868
Authors: Yamamura Kozo
Published: May 2010

That the ruling samurai class suffered increasing poverty during the Tokugawa period is accepted, without dissent, by all students of Japanese history. However, this view is based primarily on contemporary descriptions of the financial distress felt by the samurai class and has never been established empirically through the use of quantitative data. Most of the literature supporting this long accepted view is highly impressionistic and fails even to define precisely what is meant by increasing poverty. Thus, the writers on this subject use the phrase “increasing poverty” to mean variously a decline in real income, a lagging increase in real income vis-a-vis that of other classes (merchants, artisans, and peasants), or increasing “psychological poverty” experienced due to increasing expectations while real income was rising less rapidly. Authors not infrequently use these different concepts of “increasing poverty” interchangeably.
Earnings of American Civil Engineers 1820–1859
Authors: Aldrich Mark
Published: May 2010

Skilled engineers who had sufficient technical know-how to construct the antebellum canals and railroads were viewed by their contemporaries as a key input in the transportation revolution, and a number of modern scholars have concurred in this judgment. Yet very little is known about the economics of the antebellum engineering profession. This article is a modest attempt to help remedy that deficiency. We shall present and describe three original salary series that chart the course of earnings for three distinct grades of antebellum civil engineers from 1820 through 1859. In addition, we shall argue that our data clearly indicate that a highly competitive market of broad geographical scope for high-ranking engineers was coming into being during the decade of the 1820's. This trend toward competition which these data reveal persisted until about 1835, but was then swamped by the rapid economic changes which occurred in the fifteen years from 1835 to 1850, only to reappear again in the last antebellum decade. As we shall argue below, the economic changes that temporarily overrode the earlier pattern of competition reflect a significant structural change in the antebellum engineer market.
Race, Skills, and Earnings: American Immigrants in 1909
Authors: Higgs Robert
Published: May 2010

On December 5, 1910, the Immigration Commission presented its voluminous report to the Congress. Though the report covered a multitude of topics, a central theme was that the “new” immigrants from southern and eastern Europe were earning less than the “old” immigrants from northwestern Europe because the newcomers were willing to accept a lower standard of living. “They were,” the commission concluded, “content to accept wages and conditions which the native American and immigrants of the older class had come to regard as unsatisfactory.” The discovery of such “unfair competition,” along with its other findings, led the commission to recommend legislation restricting the admission of the “new” immigrant groups, and subsequently the immigration laws of 1917, 1921, and 1924 implemented this recommendation.
The Russian Balance of Payments, the Gold Standard, and Monetary Policy: A Historical Example of Foreign Capital Movements
Authors: Gregory Paul R.
Published: May 2010

This paper reports new calculations of foreign investment in Russia between 1881 and 1913. As the major recipient of foreign capital under the gold standard, Russia provides an ideal case study of capital flows among countries. The conclusions are that the influx of foreign investment into Russia following convertibility was much more substantial than the early estimates suggested and that the Russian growth rate was raised by about 0.5 percent annually as a consequence of the gold standard. The major cost of achieving convertibility was that two-thirds of official borrowing abroad between 1885 and 1897 was used to acquire gold reserves, but the ensuing growth benefits which are estimated far outweigh these costs. The Russian case confirms the standard portfolio theory of capital movements, and the relationship between the demand and supply of fiat money explains observed variations in the exchange rate.
The Antebellum Money Market and the Economic Impact of the Bank War: A Comment
Authors: Curran Christopher , Johnston Jack
Published: May 2010

In an earlier issue of this Journal, M. E. Sushka criticized the methodology of such “revisionists” as Peter Temin in their evaluation of the impact of the Bank War on the Jacksonian economy. Sushka characterizes the work of the revisionists as the “use of descriptive statistical tools in an attempt to analyze developments empirically.” Sushka, on the other hand, applies “modern econometric techniques” to “an economic framework drawn from contemporary monetary and macroeconomic theory.”
The Diffusion of the Reaper: One More Time!
Authors: Olmstead Alan L.
Published: May 2010

In the June 1977 issue of this Journal, Lewis R. Jones criticized my analysis of the diffusion of mechanical reaping and mowing machinery. Jones attempts to revive the threshold argument popularized by Paul David. In doing so Jones either confuses or ignores the main points I raised while concentrating on a peripheral issue of little significance.

I raised three major issues. First, and of least importance, I revised the values of some of the parameters David used to estimate the threshold acreage. Jones correctly notes that I erred by reporting that the revised threshold was more than twice as large as that previously estimated; the correct calculation is about 93 percent, as Jones notes. If I were to write the paper again, I would correct this mistake. Nonetheless, my major conclusions on this issue are unaltered. Revising two of the parameters used to calculate the threshold acreage so that they better conform with the actual historical situation generates a threshold about twice as large as that previously estimated. I felt this discrepancy was sufficient to cast reasonable doubt on previous estimates, and I noted that similar revisions could be made of most of the parameters and variables used for such estimations (p. 333). Anyone who doubts this assertion should see Robert Ankli's excellent work on the subject.
Cheap Labor and Southern Textiles before 1880
Authors: Wright Gavin
Published: May 2010

Labor costs historically have been decisive in determining the location of cotton textile production. Despite an apparent advantage in wage rates, however, the southern industry did not achievesustainedrelative progress before about 1875. This study argues that in most times and places the region did not have “cheap labor” before this date. What matters is not just the level of wages in any year, but the quality of labor attracted at this wage and the geographic scope of the labor market within which firms operate. The scope of the labor market depends in turn on property rights and incentives toward recruitment activity.
Explaining the Shift of Labor from Agriculture to Industry in the United States: 1869 to 1899
Authors: Lewis Frank D.
Published: May 2010

This paper attempts to explain the reasons for the shift of labor from agriculture in the United States from 1869 to 1899. It focuses on the effects of productivity growth in agriculture and industry, and of increases in the supply of land (safety-valve theory). A two-sector general equilibrium model is used in the analysis. Many of the results hinge on whether the economy is assumed to be open or closed to foreign trade. In order to determine the appropriate specification, each issue is analyzed in terms of its equivalent counterfactual-conditional proposition. An important conclusion is that increases in agricultural productivity and the level of supply of land likely reduced the proportion of workers in agriculture even though the United States economy was open.
Pre-Famine Ireland and the Theory of European Proto-industrialization: Evidence from the 1841 Census
Authors: Almquist Eric L.
Published: May 2010

The theory of proto-industrialization holds that a major expansion of rural industry, primarily in textiles, formed a phase precursory to industrialization in many European regions. This phase was characterized by sweeping economic and demographic changes, including increasing population density, land subdivision, and agricultural intensification. Domestic industry boosted marriage rates and may have lowered the average age of marriage of rural dwellers. The present research examines the tenets of this theory for the case of Ireland, a country affected by rural industrialization in the eighteenth and early nineteenth centuries. The data are cross-sectional and are drawn primarily from the 1841 census.
Fiscal Pressure and Peasant Impoverishment in Serbia before World War I
Authors: Palairet Michael
Published: May 2010

It is widely accepted that the expansion of government spending in Eastern Europe was financed during the half-century before World War I by steady increases in fiscal pressure on the peasantry. For Serbia, a quantitative analysis indicates that, relative to their incomes, the fiscal burdens on farmers declined markedly, and that the growing revenue was provided mainly by the nonfarm sector. These trends were facilitated by the political strength of the peasants. A superficial comparison of the Serbian case with those of Bulgaria and Russia suggests that fiscal pressures on farm incomes may have been decreasing throughout Eastern Europe, despite the growth of aggregate taxation.
Quantitative Economic History: An Interim Evaluation Past Trends and Present Tendencies
Authors: Fishlow Albert , Fogel Robert W.
Published: May 2010

Few recent intellectual currents have been so self-consciously controversial as the New Economic History. It has been a rare meeting patronized by historians or economists that has not featured a discussion of the merits and defects of applying theoretical and quantitative constructs to historical problems. This occasion is obviously no exception. Yet milestones must be respected, and on this thirtieth anniversary, a review of the profitability, if not the viability, of the new techniques being applied to economic history seems very much in order.
Agenda for the 1970's: The Firm and the Industry
Authors: Johnson Arthur M.
Published: May 2010

Forecasting developments in firm and industry studies during the next decade is a risky business. Students of firms and industries ask widely different questions about the causes, processes, and/or results of change, and they employ an equally wide variety of methodologies in seeking answers. As a result, objectives are more surrounded and enveloped than taken in accordance with a widely accepted and nicely articulated battleplan. This paper, then, is not offered as a battleplan for the next decade but as a survey of the fronts where the possibilities of advance seem most promising, with some effort to suggest targets and weaponry that are or might become relevant.
The Economic History of Modern Europe
Authors: Crouzet Francois
Published: May 2010

When World War II broke out, the economic history of Modern Europe was largely an underdeveloped and uncultivated field. One country only, Britain, had a well-established school of economic historians, which was already quite prolific. In Germany, there had been a promising start at the end of the 19th century, mostly with the historical school of economists, but it had largely petered out, even before the deadly influence of Nazism set in. In other countries, a number of scholars had done valuable and even brilliant work, but they were few and isolated, and political, diplomatic, religious history remained supreme. This was the case, for example, in France, which had one single chair of economic history in its eighteen universities, despite the passionate campaign which had been waged during the 1930's to promote work in economic and social history by the new journal Annales d'histoire économique et sociale, under the leadership of Marc Bloch and Lucien Febvre. Moreover, pre-war economic history was mostly institutional, with a side-line in the study of techniques and innovations. As Professor Herlihy points out in another article for works on the earlier centuries, scholars were “thinking primarily in terms of institutions and of total economic systems based upon them.”
Agenda for Asian Economic History
Authors: Yamamura Kozo
Published: May 2010

What could and should researchers in Asian economic history do during the decade of the seventies? Given the number and the diversity of Asian nations, this is an extremely large question which a person endowed only with a normal amount of ego and without a thorough knowledge of all Asian economic histories should refrain from even attempting to answer. Apparently, however, my ego is above average in size, and to compensate for my much less than complete knowledge of Asian economic history, I resorted to the most efficient method of remedying this weakness: I picked the brains of the leading specialists.
Agenda for African Economic History
Authors: Cohen David William
Published: May 2010

It is frequently remarked that Africa is so diverse as to defy generalization. Perhaps one generalization that can legitimately be made is that today there exists in every sphere of government in every African country a “development consciousness,” preeminent within this consciousness a dependence on economic planning for growth. The historical lessons of Europe and America are proffered and the lessons are studied and more than occasionally applied in the African setting. The Euroamerican historical record is rich and ripe for study; the African record of economic history, on the other hand, nearly does not exist. The embarrassing lacunae of historical work on the economies of Africa is pronounced, whether one is speaking of the transitional economies which through increased trading links first bridged world and African communities in perhaps an irreversible way, or whether one is speaking of the colonial economies of increased dependence, or of the “development economies” of more recent years. And there is irony here, for when seen against the often thin character of the pre-colonial historical record, work on the economic features of pre-colonial Africa seems relatively more substantial than work on the colonial and post-colonial periods.
Principal Currents in the Economic Historiography of Latin America
Authors: Stein Stanley J. , Hunt Shane J.
Published: May 2010

It will perhaps clarify the remarks that follow if we observe at the outset that the economic history of Latin America is in its infancy. This is not to say that the development of economic institutions, the operation of economic systems, the formation and growth of economic activities and attitudes, and the formulation and execution of economic policy have gone unnoticed in the history of Latin America. It is only to state that the formal discipline of economic history, even the use of economic history as part of a title, are of recent date. As in the historiography of most areas of the world, political developments and personalities in Latin America have constituted the core of historiography, and even today the “new” interdisciplinary history of half a century ago in the United States or the more recent French school of “total” history have drawn few adherents to Latin America. Many factors may be adduced to explain the delayed interest in economic history, but one may hazard the guess that there is a positive correlation between the degree of criticism of the nature and function of an economy and both the quantity and quality of economic historiography. At least in the United States, economic history owes no small debt to a muck-raking tradition. In Latin America, on the contrary, the nature of the literate elite and the limits on education have tended to stifle until recently the development of a body of economic literature of protest and, by extension, of economic history.
Comparative Regional Development in Antebellum Manufacturing
Authors: Bateman Fred , Weiss Thomas
Published: May 2010

A reconsideration of regional economic development during the antebellum period is underway. Emphasis thus far has tended to center on economic aggregates, on one region (the South) or on a single sector (agriculture). While the results of this work have altered our understanding of the antebellum South's relative economic position—or at least have sharpened the debate on the issues—comprehension of the role and position of the period's industrial sector remains faulty, largely because it has been derived from indirect evidence.
German Banking and Japanese Banking: A Comparative Analysis
Authors: Neuburger Hugh M. , Stokes Houston H.
Published: May 2010

Wherever there are banks there are arguments about the macro-economic effects of banking policy. One of the best theoretical formulations of the effect of German banking on German development appears in Alexander Gerschenkron's “Economic Backwardness in Historical Perspective” and “Reflections on the Concept of Prerequisites of Modern Industrialization.” This problem is given an empirical treatment in “German Banks and German Growth, 1883–1913: An Empirical View,” by Hugh Neuburger and Houston H. Stokes. Our intention in this paper is to test further our previous findings and to contrast our findings for Germany with those for post-World War II Japan. While the two situations are not entirely comparable they are similar enough to make such a comparison worthwhile.
Economic History, Pure and Applied
Authors: Cameron Rondo
Published: May 2010

C P. Kindleberger once described economic history as “great fun” but not very useful for understanding what happens in the real world. W. N. Parker, on the other hand, doesn't regard it as at all amusing, but terribly important. Within that range, surely, each of us can locate his own ratio of practicality to enjoyment inherent in the pursuit of economic history. I myself was drawn to the study of economic history, even before I was aware of its existence—in fact, it was my youthful intention to invent the discipline—by two distinct motives. On the one hand, I wanted to enter (or create) a profession in which the work itself would yield intellectual pleasure. At the same time, having just lived through the longest depression in modern times and the most destructive war in history, I wanted to do something that would be useful to society. History, I knew, was interesting. Economics, I assumed, was important. I therefore resolved to give up the study of engineering, which had occupied me briefly before the war, and to create the new discipline of economic history. I was mildly surprised to discover upon enrolling in the Yale Studies for Returning Servicemen that the discipline did, indeed, already exist, and was, furthermore, ably represented at Yale by none other than Harold F. Williamson.
Eager Hands: Labor for Southern Textiles, 1850–1860
Authors: Terrell Tom E.
Published: May 2010

Was there an ample supply of low-skilled, free labor in the antebellum Southeast to develop a textile industry producing coarser goods? Using county-level data from the 1850 and 1860 manuscript censuses and other historical sources, we found there was a surplus of low-skilled, free (mostly white) labor in Edgefield County, South Carolina, where the textile industry was firmly established before the Civil War. If Edgefield County was not a unique case, then potential investors in southern textiles were probably not restrained by an inadequate labor force. Moreover, our Edgefield study reinforces other analyses which indicate that many whites hovered on the margins of southern society even in its most prosperous decade before the Civil War.
Forgotten Men of Money: Private Bankers in Early U.S. History
Authors: Sylla Richard
Published: May 2010

Historical accounts of banking developments in the pre-1860 period of U.S. history focus almost exclusively on banking institutions chartered by state and federal governments. Private, unincorporated banks, although known to have existed, are generally ignored as either unimportant numerically or not truly commercial banks in terms of their functions. This paper draws on a variety of literary and quantitative evidence to infer that such views are perhaps in error. Some potential implications of the findings for antebellum banking and monetary history are essayed.
Death and Life in a Colonial Immigrant City: A Demographic Analysis of Philadelphia
Authors: Smith Billy G.
Published: May 2010

This study analyzes the demographic characteristics of a previously neglected area in colonial America—the urban center. Growth, birth, and death rates in Philadelphia between 1720 and 1775 are estimated using a variety of sources. Immigration, smallpox, economic vacillations, and a skewed age structure are attributed primary responsibility in determining the level of and changes in Philadelphia's vital rates. The elevated level of these rates is evident in a comparison with vital rates in Andover and Boston, Massachusetts, and Nottingham, England.
Anglo-American Financial Rivalry in the 1920s
Authors: Costigliola Frank C.
Published: May 2010

Based on British and American primary sources, this article analyzes Anglo-American differences in the reconstruction of the international monetary order. London wanted a worldwide gold exchange standard to bolster its relatively weak financial position. The U.S. pushed instead for the gold standard. Winston Churchill returned to the gold standard largely because he feared economic isolation from the Dominions, especially South Africa, which had accepted private American advice to return regardless of Britain. Anglo-American wrangling continued over the Genoa proposals, loan regulation and war debts. Heavy gold exports were a primary factor in Federal Reserve rate increases in early 1928.
Mechanical Power in the Industrialization of Japan
Authors: Minami Ryoshin
Published: May 2010

The rapid industrialization of pre-war Japan depended upon extensive use of mechanical power. This dependence is studied quantitatively based on historical statistics of power for the years from 1890 to 1940. The introduction of engines (the change from human to mechanical power) and shifts in the kinds of engines (from water wheels to steam engines to electric motors) are clarified by industry group. The impact of these changes on technological progress in manufacturing is revealed.
Railroads and German Economic Growth: A Leading Sector Analysis with a Comparison to the United States and Great Britain
Authors: Fremdling Rainer
Published: May 2010

The aim of this article is to investigate the railroads' contribution to German economic growth from the 1840s to the 1870s. The analysis focuses on background linkage effects. It is shown that the emergence of the modern German iron industry was due to the railroads' demand for iron products. A comparison with the United States reveals the considerably greater importance of German railroad construction for its domestic iron industry from 1840 to 1860. The British iron industry not only profited from domestic railroad construction but benefited significantly from railroad construction abroad, a fact too often neglected.
Demographic Transition in Japan
Authors: Mosk Carl
Published: May 2010

This article begins by disputing the claim by some scholars that the concept of a demographic transition is not applicable to Japan. Next, analysis of differentials and trends in natality over the period 1920 to 1960 suggests that changes in infant mortality and the degree of child employability may have been crucial reasons for Japan's modern fertility decline. In the short run, costs of birth regulation significantly helped determine levels of marital fertility. But in the long run, changes in such costs, without changes in attitudes toward desired number of births, could not have caused fertility decline.
Money, Prices, and Economic Development in India, 1861–1895
Authors: Adams John , West Robert Craig
Published: May 2010

In the late nineteenth century, when most of the world was on a gold standard, India was on a silver standard. Silver was used for coins, held in hoards, and worn as jewelry. Regression analysis confirms a positive relationship between prices and the money supply, and inverse relationships between prices and rainfall and prices and the combined influences of railroads and commercialization. The. influx of silver was not correlated with the money supply, apparently because hoarding and dishoarding by peasants and others caused the amount of money in active circulation to vary.
Competing Hypotheses of Underdevelopment: A Thai Case Study
Authors: Feeny David
Published: May 2010

This paper will test three models of underdevelopment against the experience of Thailand from 1850 to 1940, when Thailand became a major rice exporter. The models are a dependency model, a staples model, and a supply and demand model of technical and institutional change. The technical and institutional change model provides the best explanation. Divergences between the goals of national security and economic development as well as those between the private interests of the elite decision makers and the social interest explain Thai underinvestment in increasing agricultural productivity and account in large part for the persistence of underdevelopment.
The Role of Institutional Influences in Patterns of Agricultural Development in the Nineteenth and Early Twentieth Centuries: A Cross-Section Quantitative Study
Authors: Adelman Irma , Morris Cynthia Taft
Published: May 2010

In this paper we stratify a sample of 24 countries by the role of agriculture in industrial growth in the nineteenth and early twentieth centuries, and focus on systematic differences in the nature and strength of the interactions of institutional with agricultural and industrial change. A novel technique, disjoint principal components models, is applied to categorized data representing 35 facets of social, economic, and political structure and institutions. The results stress the systematic variations in the impact of land institutions among countries with different levels and structures of development. They also underline the critical role of social and political forces in differentiating among paths of economic change. Finally, they highlight the need for cross-section studies using institutional data to understand better the complexity of institutional constraints and influences which often vary little in a given national environment.
American Economic Growth before 1840: New Evidence and New Directions
Authors: Lindstrom Diane
Published: May 2010

This article reviews recent literature on American growth before 1840 and compares it with estimates derived from the Philadelphia region. The estimates indicate that national output per capita rose no less than 0.S to 1.0 percent per annum in the period 1810-1840 and that growth exhibited trend acceleration. Relatively modest growth was accompanied by extensive development, initiated by sharply lowered transport costs. Faced with higher returns for exports and diminished costs for imports, regional producers increasingly specialized. Heightened intraregional trade fostered a pervasive reallocation of resources among sectors and among subsections of the region. This development helped ensure rapid, post-1840 growth.
Introduction
Authors: McKay John P. , Uselding Paul J.
Published: May 2010

The Program Committee for the thirty-sixth Annual Meeting of the Economic History Association began its work in early 1975, after several months of consultation with David Landes, President-elect of the Association. The basic goal of the Committee was two-fold. First, we selected a general theme—“Historical Dimensions of Social and Political Economy”—which would reassert the fundamental and integral importance of society and politics within economic history. It was, and is, our considered judgment that economic history runs a grave risk of losing general appeal and significance if it becomes a latter-day scholasticism focusing almost exclusively on narrowly defined “economic” problems. Second, we wanted to attract to our meeting and Association scholars with varied interests and methodologies within the entire field of economic history broadly conceived.
The Role of War in Modern Inflation
Authors: Hamilton Earl J.
Published: May 2010

Wars in early modern times, although frequent, generated little price inflation because of their limited demands on real resources. The invention of paper currency and the resort to deficit financing to pay for wars changed that situation. In recent centuries wars have been the principal causes of inflation, although since World War II programs of social welfare unmatched by offsetting taxation have also fueled inflationary flames.
Interpreting Power and Profit in Economic History: A Case Study of the Seven Years War
Authors: Neal Larry
Published: May 2010

This article examines the economic costs to the British nation of the Seven Years War. Drawing upon manuscript records and secondary studies, the author analyzes in detail the diversion of resources to the Navy and the effect of increased debts on the economy. Finding that the burden was great but the impact apparently slight, the author suggests that the English may have drawn substantially upon extra-national sources of capital, labor and materials.
Technology and Society: The Impact of Gold Mining on the Institution of Slavery in Portuguese America
Authors: Russell-Wood A. J. R.
Published: May 2010

This article examines the impact of gold mining on slavery in colonial Brazil. Crown policies, economic pressures, and gold's role as an instrument for social mobility had demographic repercussions—affecting sexual imbalance, the ratio of slaves to freedmen, the availability and distribution of labor. Economic factors determined ethnic origins, slave trade patterns, and the assimilative capability of blacks as illustrated by the slave family. Differences between slavery in mining and plantation societies are emphasized. The transfer of technical skills is signalled as a major African contribution to the New World. The article concludes by assessing the psychological and administrative impact of a black majority.
Community and Growth: Muddling Through with Russian Credit Cooperatives
Authors: Baker Anita B.
Published: May 2010

This article examines the evolution of the Russian government's policies between 1861 and 1917 in the sphere of rural credit, especially the extent to which social and cultural factors and ministerial politics impinged on the choice of banks and their development. Discussions concerned measures for economic change that could take place within the traditional and legal framework of the village community. The Ministry of Interior supported a classbased estate bank. The Ministry of Finance opted for the cooperative credit association which was to foster rural pacification and agricultural development by mobilizing peasant collective habits and private initiative that favored cooperative organizations.
The Birth and Death of Taxes: A Hypothesis
Authors: Ames Edward , Rapp Richard T.
Published: May 2010

Tax systems in England, France, Spain, and Venice are regarded as providing payments from subjects to governments for protection against foreign and domestic threats. In each developing state, the supply and demand for protection at the time of the tax system's origin determined the long-term character of taxation. Only where taxes arose in an environment of exceptionally long wars did subjects forfeit their right to control levies. Groups having close substitutes available for central government paid non-extortionate taxes. Collusion in the supply of protection led to noble tax privileges. Once created, taxes survived as long as the government itself.
Tenancy as an Economic Institution: The Growth and Distribution of Agricultural Tenancy in Iowa, 1850–1900
Authors: Winters Donald L.
Published: May 2010

This article analyzes the growth and distribution of agricultural tenancy in Iowa from 1850 to 1900. For the period before 1880 (when the published censuses did not record land-tenure data), it estimates tenancy rates based on a twelvecounty sample. It analyzes several explanations of the causes of tenancy and concludes that it was a natural outgrowth of a normally operating market system rather than a sign of economic malfunction. The article argues that the widening margin between current rates of return to land and mortgage interest rates explains much of the growth in tenancy. It also finds that regional specialization in farming largely explains the spatial distribution of tenancy by 1900.
The Antebellum Money Market and the Economic Impact of the Bank War
Authors: Sushka Marie Elizabeth
Published: May 2010

This paper examines the impact of the Bank War on the economic events of the 1830's. An economic model of the antebellum money market is developed and tested. Specifications for money demand and supply are drawn from contemporary monetary literature and empirically estimated. Next, the historical hypotheses are tested by exploring the structural stability of the model. The results clearly indicate that: the Bank War affected the economy because it altered the pattern of financial behavior; wildcat banking was not characteristic of the post-Bank period; and finally, the Panic of 1837 was the result of a severe monetary contraction.