Question

Describe the imbalance of trade that occurred in the year after 1810

Answer 1

The imbalance of trade that occurred in the year after 1810 in the U.S. was as a result of the foreign trade that was severely disrupted by Jefferson’s trade embargo, the British blockade during the 1812 War and consequent non-importation measures. The disruptions barred foreign manufactured goods from getting to the U.S. markets that gave protection to nascent domestic industries from import competition. This gave rise to the establishment of new manufacturing firms while existing domestic producers rapidly expanded output to replace previously imported goods.

Answer 2

The foreign trade from 1789–1810 was mainly an exporting of raw materials and importing manufactured goods during the colonial period. Plain economic necessity had turned the settlers to agriculture. When excess food production became possible, economic specialism appeared. Although the seas were overspread with privateers and bandits and the ships used for trading were small and the long journey, the dangers of overland trading were still bigger and the returns more indefinite.