Final answer:
The Founders believed foreign commerce was vital for the nation's economy but faced challenges under the Articles of Confederation due to the inability to regulate trade or impose tariffs, leading to fragmented policies and difficulties in international commerce.
Step-by-step explanation:
The Founders held that foreign commerce was essential for the economic development and sovereignty of the United States. During the period under the Articles of Confederation, however, they encountered challenges in establishing a cohesive commercial policy. Without the power to regulate trade or impose tariffs, individual states pursued their interests, leading to a fragmented and ineffective approach to international commerce. The Confederation Congress lacked enforcement mechanisms for treaties, and as a result, countries like Great Britain and Spain were reluctant to enter into commercial agreements, recognizing the weaknesses within the American system.
The mercantilist thinking of the time suggested that economic success was tied to government regulation. High tariffs and import bans protected domestic industries, while colonies like those in America served as captive markets for British goods, an arrangement critiqued by Adam Smith in 'The Wealth of Nations'. The economic issues were further complicated by British and Spanish resistance to American trade, as they excluded American ships from their ports and closed vital trade routes like the Mississippi River.
The need for a strong federal government role in economic matters was realized during the War of 1812. National leaders began to see the importance of federal involvement in agriculture, commerce, and manufacturing, leading to efforts to strengthen the economy post-war. The establishment of a national bank and the development of a nationwide transportation network were part of the vision to unify commercial activities and promote American economic interests.