The post-Napoleonic Depression was an economic depression in Europe and the United States after the end of the Napoleonic Wars in 1815. In England and Wales, an agricultural depression led to the passage of the Corn Laws (which were to polarize British politics for the next three decades), and placed great strain on the system of poor relief inherited from Elizabethan times. [1]
After the end of the Napoleonic Wars in 1815, a brief boom in textile manufacture in England was followed by periods of chronic industrial economic depression, particularly among textile weavers and spinners (the textile trade was concentrated in Lancashire). [2] Weavers who could have expected to earn 15 shillings for a six-day week in 1803, saw their wages cut to 5 shillings or even 4s 6d by 1818. [3] The industrialists, who were cutting wages without offering relief, blamed market forces generated by the aftershocks of the Napoleonic Wars. [3]
At the same time, the Corn Laws (the first of which was passed in 1815) exacerbated the situation. They imposed a tariff on foreign grain in an effort to protect English grain producers (agricultural landowners). The cost of food for working people rose as people were forced to buy the more expensive and lower quality British grain, and periods of famine and chronic unemployment ensued, increasing the desire for political reform both in Lancashire and in the country at large. [4] [5]
In Ireland, wheat and other grain prices fell by half, and alongside continued population growth, landlords converted cropland into rangeland by securing the passage of tenant farmer eviction legislation in 1816, which led, because of the Irish workforce's historic concentration in agriculture, to a greater subdivision of remaining land plots under tillage and increasingly less efficient and less profitable subsistence farms. [6] [7]
In Scotland, the depression ended in 1822. [8] Samuel Jackson of Pennsylvania theorised that the Panic of 1819 and resulting depression in the United States were caused by the post-Napoleonic depression, holding that the end of the Napoleonic wars had led to the collapse of export markets and resulting underconsumption. [9]
The Corn Laws were tariffs and other trade restrictions on imported food and corn enforced in the United Kingdom between 1815 and 1846. The word corn in British English denoted all cereal grains, including wheat, oats and barley. The laws were designed to keep corn prices high to favour domestic farmers, and represented British mercantilism. The Corn Laws blocked the import of cheap corn, initially by simply forbidding importation below a set price, and later by imposing steep import duties, making it too expensive to import it from abroad, even when food supplies were short. The House of Commons passed the corn law bill on 10 March 1815, the House of Lords on 20 March and the bill received royal assent on 23 March 1815.
The Panic of 1819 was the first widespread and durable financial crisis in the United States that slowed westward expansion in the Cotton Belt and was followed by a general collapse of the American economy that persisted through 1821. The Panic heralded the transition of the nation from its colonial commercial status with Europe toward an independent economy.
The Middle Colonies were a subset of the Thirteen Colonies in British America, located between the New England Colonies and the Southern Colonies. Along with the Chesapeake Colonies, this area now roughly makes up the Mid-Atlantic states.
The Lowlands is a cultural and historical region of Scotland.
Ireland's economic history starts at the end of the Ice Age when the first humans arrived there. Agriculture then came around 4500 BC. Iron technology came with the Celts around 350 BC. From the 12th century to the 1970s, most Irish exports went to England. During this period, Ireland's main exports were foodstuffs. In the 20th century, Ireland's economy diversified and grew. It is now one of the richest countries in the world by GDP per capita.
Albanian Americans are Americans of full or partial Albanian ancestry and heritage in the United States. They trace their ancestry to the territories with a large Albanian population in the Balkans and southern Europe, including Albania, Italy, Kosovo, North Macedonia and Montenegro. They are adherents of different religions and are predominantly Muslims and Christians, while some are irreligious.
Canadian Americans are American citizens or in some uses residents whose ancestry is wholly or partly Canadian, or citizens of either country who hold dual citizenship.
Oscar Handlin was an American historian. As a professor of history at Harvard University for over 50 years, he directed 80 PhD dissertations and helped promote social and ethnic history, virtually inventing the field of immigration history in the 1950s. Handlin won the 1952 Pulitzer Prize for History for The Uprooted (1951). Handlin's 1965 testimony before Congress was played an important role in passage of the Immigration and Nationality Act of 1965 that abolished the discriminatory immigration quota system. According to historian James Grossman, "He reoriented the whole picture of the American story from the view that America was built on the spirit of the Wild West, to the idea that we are a nation of immigrants."
Commodity price shocks are times when the prices for commodities have drastically increased or decreased over a short span of time.
Stephan Thernstrom is an American academic and historian who is the Winthrop Research Professor of History Emeritus at Harvard University. He is a specialist in ethnic and social history and was the editor of the Harvard Encyclopedia of American Ethnic Groups. He and his wife Abigail Thernstrom are prominent opponents of affirmative action in education and according to the New York Times, they "lead the conservative charge against racial preference in America."
Vaba Eesti Sõna is an Estonian expatriate weekly newspaper published in New York City, United States established in 1949.
Oldham Limiteds were the 154 cotton manufacturing companies founded to build or operate cotton mills in Oldham in northwest England, and predominantly during the joint-stock boom of 1873–1875.
Appalachian Americans, or simply Appalachians, are Americans living in the geocultural area of Appalachia in the eastern United States, or their descendants.
The Great Recoinage of 1816 was an attempt by the government of the United Kingdom of Great Britain and Ireland to re-stabilise its currency, the pound sterling, after the economic difficulties brought about by the French Revolutionary Wars and the Napoleonic Wars.
Ethnic history is a branch of social history that studies ethnic groups and immigrants. Barkan (2007) argues that the field allows historians to use alternate models of interpretation, unite qualitative and quantitative data, apply sociological models to historical patterns, examine more deeply macro-level policies and decisions, and, especially, empathize with the ethnic groups under study.
Manchester has historically influenced political and social thinking in Britain and been a hotbed for new, radical thinking, particularly during the Industrial Revolution.
Irish Americans are ethnic Irish who live in the United States and are American citizens. Most Irish Americans of the 21st century are descendants of immigrants who moved to the United States in the mid-19th century because of the Great Famine in Ireland.
Old Stock American is a colloquial name for Americans who are descended from the original settlers of the Thirteen Colonies. Historically, Old Stock Americans have been mainly Protestants from Northwestern Europe whose ancestors emigrated to British America in the 17th and 18th centuries.
The Macedonian People's League was a leftist organization, founded in the United States.
The Greater Boston Area is home to a sizable Albanian American and Albanian immigrant community, especially within South Boston, Worcester, and Quincy. Massachusetts has the third-largest Albanian population in the U.S., with over 21,000 Albanians in residence; only New York and Michigan host larger populations.