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From the colonial era to 1914, America was a debtor nation in international accounts--owing more to foreigners than foreigners owed to us. By 1914 it was the world's largest debtor nation. Mira Wilkins provides the first complete history of foreign investment in the United States during that period. The book shows why the United States was attractive to foreign investors and traces the changing role of foreign capital in the nation's development, covering both portfolio and direct investment. The immense new wave of foreign investment in the United States today, and our return to the status of a debtor nation--once again the world's largest debtor nation--makes this strong exposition far more than just historically interesting. Wilkins reviews foreign portfolio investments in government securities (federal, state, and local) and in corporate stocks and bonds, as well as foreign direct investments in land and real estate, manufacturing plants, and even such service-sector activities as accounting, insurance, banking, and mortgage lending. She finds that between 1776 and 1875, public-sector securities (principally federal and state securities) drew in the most long-term foreign investment, whereas from 1875 to 1914 the private sector was the main attraction. The construction of the American railroad system called on vast portfolio investments from abroad; there was also sizable direct investment in mining, cattle ranching, the oil industry, the chemical industry, flour production, and breweries, as well as the production of rayon, thread, and even submarines. In addition, there were foreign stakes in making automobile and electrical and nonelectrical machinery. America became the leading industrial country of the world at the very time when it was a debtor nation in world accounts.
This comprehensive history of copper mining tells the full story of the industry that produces one of America's most important metals. The first inclusive account of U.S. copper in one volume, Copper for America relates the discovery and development of America's major copper-producing areas—the eastern United States, Tennessee, Michigan, Montana, Arizona, New Mexico, Nevada, Utah, and Alaska—from colonial times to the present. Starting with the predominance of New England and the Middle Atlantic states in the early nineteenth century, Copper for America traces the industry's migration to Michigan in mid-century and to Montana, Arizona, and other western states in the late nineteenth century. The book also examines the U.S. copper industry's decline in the twentieth century, studying the effects of strong competition from foreign copper industries and unforeseen changes in the national and global copper markets. An extensively documented chronicle of the rise and fall of individual mines, companies, and regions, Copper for America will prove an essential resource for economic and business historians, historians of technology and mining, and western historians.
From its very inception in 1879 until the twentieth century, the U.S. Geological Survey was embroiled in congressional politics. These early years, Thomas G. Manning shows, heralded the complex relations of contemporary science and government. Born out of rivalry between several scientific parties, the Geological Survey was founded primarily for the advancement of mining west of the Mississippi. Its scope was soon broadened, however, and the Survey became national in character. The concept of government science was challenged by the conservative Cleveland Democrats, but its proponents succeeded in establishing the Survey as a permanent bureau in 1886. Manning traces in detail the careers of the Survey's first two directors, Clarence King and John Wesley Powell, and adds new dimensions and interpretations to their public lives. King sought to make the Survey a center for geological theory as well as practical studies. By exceeding the narrow limits of the original appropriations bill, King became vulnerable to the attacks of economy-minded congressmen and was dismissed. Powell proved a more apt political manipulator and his plans for a nationwide topographical map were salable to the public, but his unpopular western land policies almost cost him his position. Near the end of the nineteenth century, under Powell's successor, C. D. Walcott, the Survey was finally able to divorce itself from active politics and its policies were developed in a more fruitful setting.
This book deals with the history of mining and smelting from the Renaissance to the present. Martin Lynch opens with the invention, sometime before 1453, of a revolutionary technique for separating silver from copper. It was this invention which brought back to life the rich copper-silver mines of central Europe, in the process making brass cannon and silver coin available to the ambitious Habsburg emperors, thereby underpinning their quest for European domination. Lynch also discusses the Industrial Revolution and the far-reaching changes to mining and smelting brought about by the steam engine; the era of the gold rushes; the massive mineral developments and technological leaps forward which took place in the USA and South Africa at the end of the 19th century; and, finally, the spread of mass metal-production techniques amid the violent struggles of the 20th century. In an engaging, concise and fast-paced text, he presents the interplay of personalities, politics and technology that have shaped the metallurgical industries over the last 500 years.