Study On The Embargo Act And American Economy Of The Jefferson Administration

In early American history, due to the commencement of the French Revolution, the majority of European countries involved in more than 20 years of war. The British and French in order to safeguard their own interests, using the blockade policy to fight against each other, which hit American early prosperity of the neutral trade. In order to safeguard the interests of the United States, President Thomas Jefferson promulgated the Embargo act On December 12, 1807, which acts to ban all American ships left the United States border and bound for foreign ports, unless it’s authorized by the President. As the earliest Embargo act of the United States, it didn’t boycott the British and French action of trade restrictions against American neutrality, at the same time it destroyed the shipping industry and Agriculture to a certain degree. As a result, American economy is facing collapse. But, in the long term, Embargo act had a profound impact on the US economy. During the period of embargo, American manufacturing has been developed, and gradually reduce the dependence on the British industrial products, which greatly stimulated the development of American industry. So the development of manufacturing in the United States laid the foundation stone for the arrival of the American Industrial Revolution. Also, the embargo can be seen as a turning point in America economic development. After the embargo, the US government began to actively adjust their economic policies, in order to adapt the changeable domestic and international environment. So, the Embargo Act occupies an important status in the history of American, and it has great significance to US economy.