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• W323765086 abstract "BARBARA H. STEIN AND STANLEY J. STEIN, Edge of Crisis: War and Trade in the Spanish Atlantic, 1789-1808. Baltimore, PA: The Johns Hopkins University Press. 2009. xii + 623 pp. ISBN 978-0-8018-9046-8.In Edge of Crisis, Barbara and Stanley Stein exhaustively examine 'the process of policy formulation by Spain's highest civil servants' (54-55). The authors juxtapose the views of reform-minded economists (proyectistas) with those that would uphold the Old Regime status quo during the reign of Charles IV (1789-1808). Yet both factions converged in the belief that the empire had to be maintained at all costs. Analysing the axis between Cadiz, Mexico City, Veracruz and Havana, the book focuses on 'an inverted colonial compact' forged between peninsular and American Spaniards (46).Many key ministers held optimistic views regarding trade, as the period 1789-1792 saw expanding exports of American goods from silver to sugar, hides and beef. This came on the heels of an upsurge in Spain's transatlantic shipping, increasing by 16 per cent between 1779 and 1788. To document such growth, a mercantile periodical was established in 1792. By 1795, the newspaper boasted: 'agriculture and trade is improving every day, to the mutual benefit of the colonies and their metropole' (188). In order to centralize administration of the municipal consulados one official proposed assembling peninsular and American commercial representatives under one roof. The peninsular viceroy of New Spain, Revillagigedo, urged the revival of the navy augmented by a merchant marine. Both Hacienda secretary Diego de Gardoqui and physiocrat Vicente Basadre advocated investment and protectionism to spur colonial agriculture and peninsular industrial development, especially in textiles. Basadre also recommend stimulating the cultivation of silkworms in Veracruz to combat losses from trans-Pacific trading deficits. Despite being presented with a programme for change, Manuel Godoy, named the king's chief minister in 1792, adhered to traditionalist doctrines and remained tied to 'a mentality formed by decades of economic backwardness' (64). He refused to implement in full a reformist agenda, resisting, for example, calls to bolster the production of cotton goods, which might have undermined the manufacture of woollen goods.In New Spain, competition between Veracruz and Mexico City played out in discussions of free trade policies (comercio libre) that had been instituted gradually in parts of the monarchy beginning in 1778. Accordingly, many luces hailed liberty as 'the soul of commerce' (159). Although the consulado of Santander, for instance, ardently supported loosening restrictions, leading merchants in Mexico City decried the advent of reform and the establishment of new consulados, hearkening to the days of the annual flota system that characterized an earlier age. …" @default.
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• W323765086 date "2013-04-01" @default.
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• W323765086 title "Edge of Crisis: War and Trade in the Spanish Atlantic, 1789-1808" @default.
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