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Palgrave Macmillan

A New Balance of Payments for the United States, 1790–1919

International Movement of Free and Enslaved People, Funds, Goods and Services

  • Book
  • © 2021

Overview

Authors:
  1. Lawrence H. Officer

    1. Department of Economics (MC 144), University of Illinois at Chicago, Chicago, USA

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  • Improves the balance of payments statistics for the United States from 1790 to 1919?
  • Explores important questions in US history and international economics, such as the movement of people, movement of goods, movement of funds, provision of services, and their implications
  • Provides exhaustive coverage of early US trade

Part of the book series: Palgrave Studies in American Economic History (AEH)

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Table of contents (21 chapters)

  1. Front Matter

    Pages i-xxxiii
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  2. Why a New Balance of Payments

    1. Front Matter

      Pages 1-1
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    2. Existing Historical Balance of Payments: A Survey

      • Lawrence H. Officer
      Pages 3-23

    3. New Balance of Payments: Features and Implications

      • Lawrence H. Officer
      Pages 25-43

  3. Movement of People

    1. Front Matter

      Pages 45-45
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    2. Free People: Oceanic and Overland

      • Lawrence H. Officer
      Pages 47-87

    3. Slaves: Oceanic

      • Lawrence H. Officer
      Pages 89-95

    4. Passengers: Domestic

      • Lawrence H. Officer
      Pages 97-112

  4. Movement of Goods

    1. Front Matter

      Pages 113-113
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    2. Merchandise Exports

      • Lawrence H. Officer
      Pages 115-131

    3. Merchandise Imports

      • Lawrence H. Officer
      Pages 133-146

    4. Gold and Silver

      • Lawrence H. Officer
      Pages 147-152

    5. Ships and Slaves

      • Lawrence H. Officer
      Pages 153-160

  5. Movement of Funds

    1. Front Matter

      Pages 161-161
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    2. Unilateral Transfers

      • Lawrence H. Officer
      Pages 163-187

    3. Capital

      • Lawrence H. Officer
      Pages 189-209

    4. Income

      • Lawrence H. Officer
      Pages 211-220

  6. Provision of Services

    1. Front Matter

      Pages 221-221
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    2. Transportation

      • Lawrence H. Officer
      Pages 223-246

    3. Travel

      • Lawrence H. Officer
      Pages 247-263
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Keywords

About this book

This book develops new balance of payments statistics for the United States from 1790 to 1919, before official statistics were kept. Part I of this book justifies construction of a new balance of payments table, and Chapter 1 surveys existing tables from that standpoint. Chapter 2 shows how this book overcomes the limitations of Office of Business Economics and its North-Simon-Goldsmith foundation. Specific features are highlighted, including measurement decisions, improvement of OBE series, development of new series, and derived implications for the structure of the US economy and for the importance of individual sectors that loom large at various times: slave trade, shipping, manufacturing, and travel. The book then generates new time series of the movement of people, the movement of goods, the movement of funds, and the provision of services. Part VI puts the new balance of payments table to use in several ways: aggregates and balances within the table, structure of the US economy, and specific sectors of the economy (slave trade, shipping, manufacturing, travel). Finally, Part VII provides concluding comments.


Reviews

“This book provides a definitive treatment of the U.S balance of payments 1790–1919. … The book is a major contribution to U. S economic history. … the book is a monumental effort and its mastery of disparate sources puts it on a par with classics such as Lebergott (1964). It will surely stimulate further research.” (John Devereux, EH Net, eh.net, May, 2022) “A New Balance of Payments is a remarkable achievement. The comprehensive coverage, detailed source references, and explanations for underlying assumptions are outstanding, and the annotative bibliographical richness is exemplary. The book is chock full of questions, answers, new answers to old questions, and answers which prompt further questions. It is a welcome, highly recommendable and widely applicable reference book.” (Drew Keeling, Independent Scholar)

Authors and Affiliations

  • Department of Economics (MC 144), University of Illinois at Chicago, Chicago, USA

    Lawrence H. Officer

About the author

Lawrence H. Officer is Professor of Economics at the University of Illinois at Chicago, USA.  

Bibliographic Information

  • Book Title: A New Balance of Payments for the United States, 1790–1919

  • Book Subtitle: International Movement of Free and Enslaved People, Funds, Goods and Services

  • Authors: Lawrence H. Officer

  • Series Title: Palgrave Studies in American Economic History

  • DOI: https://doi.org/10.1007/978-3-030-66099-4

  • Publisher: Palgrave Macmillan Cham

  • eBook Packages: Economics and Finance, Economics and Finance (R0)

  • Copyright Information: The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Switzerland AG 2021

  • Hardcover ISBN: 978-3-030-66098-7Published: 25 March 2021

  • Softcover ISBN: 978-3-030-66101-4Published: 29 March 2022

  • eBook ISBN: 978-3-030-66099-4Published: 24 March 2021

  • Series ISSN: 2662-3900

  • Series E-ISSN: 2662-3919

  • Edition Number: 1

  • Number of Pages: XXXIII, 415

  • Number of Illustrations: 1 b/w illustrations

  • Topics: Economic History, International Economics, US History, History of the Americas

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