Trade Laws Quotes
In the particular case, the issue was whether the businessmen of our French allies should suffer from a devaluation of American currency that was then contemplated. American merchants would pay for goods in devalued currency and pay back loans with the same. Americans, and most other trading nations, have been on both sides of this issue ever since as a function of the specifics of the issues and the times.
As absurd as it seems to us today, traders were not very high in the English social order. Business itself was not well respected. English governing councils were devoid of anyone who had trade of business experience. Holland, in contrast, perhaps went to the other extreme in that traders and business men dominated to political structure. The Dutch were much more successful in foreign trade relatively than the English.