Economic Depression, or rather the depressions. Part 1

 

There have been more than one economic depressions in the history of the United States. The very first was the depression that lasted from 1807 - 1814. The war between Great Britain and the French was an ongoing effort of both countries for power in Europe  In an effort to stay above the fray and not get involved in foreign entanglements. Something the young country was not prepared to do. Neither financially or militarily.  President Jefferson placed an embargo on goods sold or traded to either country. This in an effort to stay out of the war zone of the two conflicting countries. The theory being that the United States could make up for the loss of trade by expanding it's own domestic markets. However the ability to do that was not pragmatic in the short run.  It would take time and in the mean time the economy would suffer.  A result of the trade embargo was a recession and a closing of industries that here to fore produced manufactured goods that would ordinarily provide for foreign markets. Despite Jefferson's attempts to stay clear of the conflict. In the end the United States had no choice but to enter into the conflict and the War of 1812 was upon us. The war was primarily a war fought over the impresment of seaman. Sailing on American vessels and violation of national sovereignty perpetrated on the high seas. Although the outcome of the war was not conclusive the economy recovered in 1814.