22 déc. 1807 - Embargo of 1807

Description:

In a desperate attempt to avert war, the United States imposed an embargo on foreign trade. The embargo was an unpopular and costly failure. It hurt the American economy far more than the British or French, and resulted in widespread smuggling. Exports fell from $108 million in 1807 to just $22 million in 1808. Farm prices fell sharply. Shippers also suffered. Harbors filled with idle ships and nearly 30,000 sailors found themselves jobless. In effect for 15 months, the embargo exacted no political concessions from either France or Britain. But it had produced economic hardship, evasion of the law, and political dissension at home.

Ajouté au bande de temps:

Date: