Banking in Alabama, 1816-1860


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State Banking in Early America


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Examines the different state banking systems in the U.S. from 1790 through 1860.




Political Institutions and Financial Development


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The essays in this volume employ the insights and techniques of political science, economics and history to provide a fresh answer to this question.




Violence and Social Orders


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This book integrates the problem of violence into a larger framework, showing how economic and political behavior are closely linked.







Mr. Jefferson's Lost Cause


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Thomas Jefferson advocated a republic of small farmers--free and independent yeomen. And yet as president he presided over a massive expansion of the slaveholding plantation system, particularly with the Louisiana Purchase, squeezing the yeomanry to the fringes and to less desirable farmland. Now Roger G. Kennedy conducts an eye-opening examination of the gap between Jefferson's stated aspirations and what actually happened. Kennedy reveals how the Louisiana Purchase had a major impact on land use and the growth of slavery. He examines the great financial interests (such as the powerful land companies that speculated in new territories and the British textile interests) that beat down slavery's many opponents in the South itself (Native Americans, African Americans, Appalachian farmers, and conscientious opponents of slavery). He describes how slaveholders' cash crops--first tobacco, then cotton--sickened the soil and how the planters moved from one desolated tract to the next. Soon the dominant culture of the entire region--from Maryland to Florida, from Carolina to Texas--was that of owners and slaves producing staple crops for international markets. The earth itself was impoverished, in many places beyond redemption. None of this, Kennedy argues, was inevitable. He focuses on the character, ideas, and ambitions of Thomas Jefferson to show how he and other Southerners struggled with the moral dilemmas presented by the presence of Indian farmers on land they coveted, by the enslavement of their workforce, by the betrayal of their stated hopes, and by the manifest damage being done to the earth itself. Jefferson emerges as a tragic figure in a tragic period. Mr. Jefferson's Lost Cause was a CHOICE Outstanding Academic Title for 2003.










Public Choice Interpretations of American Economic History


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Jac C. Heckelman, John C. Moorhouse and Robert Whaples The eight chapters of this volume are revised versions of papers originally presented at the "Applications of Public Choice Theory to Economic History" conference held at Wake Forest University, April 9-10, 1999. They all apply the tools of public choice theory to the types of questions which economic historians have traditionally addressed. By adding the insights of public choice economics to the traditional tools used to understand economic actors and institutions, the authors are able to provide fresh insights about many important issues of American history. 1. DEVELOPMENTS IN PUBLIC CHOICE THEORY Economists have historically sought to develop policies to improve social welfare by correcting perceived market failures due to monopoly power, externalities, and other departures from the textbook case of the purely competitive model. An underlying assumption is that the public sector, upon recognizing the market failure, will act to correct it. Applied work often develops the conditions under which these policies will be optimal. The public choice movement has questioned the false dichotomy established by welfare economists. Economists of all persuasions assume traditional private market actors, such as entrepreneurs, managers, and consumers, are self-interested rational maximizers. Why should this not hold for all economic agents? The innovation of public choice analysis is to show what happens when public sector actors, such as politicians, bureaucrats, and voters, also behave as rational self-interested maximizers.




John Archibald Campbell


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The first full biography of the southern U.S. Supreme Court justice who championed both the U.S. Constitution and states’ rights The life of John Archibald Campbell reflects nearly every major development of 19th-century American history. He participated either directly or indirectly in events ranging from the Indian removal process of the 1830s, to sectionalism and the Civil War, to Reconstruction and redemption. Although not a defender of slavery, he feared that abrupt abolition would produce severe economic and social dislocation. He urged southerners to reform their labor system and to prepare for the eventual abolition of slavery. In the early 1850s he proposed a series of reforms to strengthen slave families and to educate the slaves to prepare them for assimilation into society as productive citizens. These views distinguished him from many southerners who steadfastly maintained the sanctity of the peculiar institution. Born and schooled in Georgia, Campbell moved to Montgomery, Alabama, in the early 1830s, where he joined a successful law practice. He served in the Alabama legislature for a brief period and then moved with his family to Mobile to establish a law practice. In 1853 Campbell was appointed an associate justice of the U.S. Supreme Court. His concurring opinion in the Dred Scott case in 1857 derived not from the standpoint of protecting slavery but from an attempt to return political power to the states. As the sectional crisis gathered heat, Campbell counseled moderation. He became widely detested in the North because of his defense of states’ rights, and he was distrusted in the South because of his moderate views on slavery and secession. In May 1861 Campbell resigned from the Court and later became the Confederacy's assistant secretary of war. After the war, Campbell moved his law practice to New Orleans. Upon his death in 1889, memorial speakers in Washington, D.C., and New Orleans recognized him as one of the nation's most gifted lawyers and praised his vast learning and mastery of both the common law and the civil law. In this first full biography of Campbell, Robert Saunders, Jr., reveals the prevalence of anti-secession views prior to the Civil War and covers both the judicial aspects and the political history of this crucial period in southern history.