Bro tells us: “But other exports, including “specie” (gold & silver) from new mines out west, were not insignificant, and were growing.”
Bro, source please.
Bro comes up with this as a pathway to remaining competitive: “Matching Confederate (tariff) rates would be a simple step.”
Correct Bro, but given the choice between calling Congress into session to do that, or leaving them out of any effort to follow the Constitution, the Executive chose to sent war ships South.
So according to your logic, the Executive was not very smart in starting the war.
And you would be correct, Sir.
And you would be correct, Sir.
To the contrary. I think he was too smart by half.
I've noticed a correlation between so called "Genius" Presidents, and disasters.
That first link in my post #317 takes you to a chart on page #605 which shows specie exports after 1849 (remember the original '49ers, before they learned to play football?) growing from $5 million in 1849 to $66 million in 1860.
Or, if you consider just the net balance of specie export/imports, it was minus $1 million in 1849, growing to positive $58 million in 1860.
Those are not insignificant numbers, certainly smaller than the $191 million in cotton exports, but larger by far than every other category of exports.
PeaRidge: "...given the choice between calling Congress into session to do that, or leaving them out of any effort to follow the Constitution, the Executive chose to sent war ships South."
Because routine resupplying Union troops in a Union fort was neither an act of war, nor something Congress needed to get involved in.
When Congress did meet, in July, it eventually approved & funded all of Lincoln's actions.