Trade Regulations Quotes
Referring to NAFTA, CAFTA and other international trade agreements
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.
This quotation illustrates two important points. First, that foreign and domestic trade and merchants were very much appreciated at the time and an important component of society that there were special protections for traders and merchants. Second, was the national preemption of jurisdiction and control over business and commerce that would enter and leave the city. On most matters the local authorities would handle things, but intercity and international commerce was historically continuously impaired by individual nobles and other authorities making rules affecting merchants who might come to their town or city. The Crown preempted this authority in the 13th century and the “Commerce Clause” of our Constitution was not an unusual concept and had an extensive legal and economic history.
This was one of the first and is considered the best of the Colonial arguments against taxation without representation. The argument here about exports also affected other commodities—see {636866}. Despite this, Dulany is not well known in American history because when the Revolution finally came he was a loyalist.
