Change of Business

Earl Netwal has been forced to sell off his philatelic inventory. He is now building a new business helping other micro and larger business effectively use atypical eCommerce tools to grow their customer bases. For more information go to http://MicroBusinessSpecialist.com/blog While there get a free copy of Earl's new report, Why Most Small Business Web Sites StinK!

Scott 65 Fancy Cancel Collection

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Scott 65 This three cent rose colored stamp was the backbone of postal service during its period of use which ran from 1861-1868. During this time period the postage rate was 3 cents for up to 3000 miles, and prepayment by postage stamp was mandatory. Thus most every letter required a Scott 65 or one of its cousins. There are a variety of stamps with the same design engraved by Joseph Ourdan for the National Bank Note Company. Other Scott numbers exist for the Pink, Lake,Brown Red & Scarlet none grilled examples and 7 different grill variations of the Standard Rose. Other than the Pink Scott 64, the others color varieties are all listed as "special printings." The common 65 rose has a catalog value of $3 used, but with a nice clear fancy cancel they can go much much higher. Grill varieties ran from a small of 9X13 mm to all over. Distinguishing grills can be challenging eye work. Various Grilled examples can be very pricy, with or without a fancy cancel. I will be offering many better individuals cancels as singles, but also quite a few as album pages, to give the buyer a chance to acquire a significant enough group upon which to build a larger collection. The album pages below will be offered for sale this week, possibly by the time you get this, but more likely Thursday evening, May 15, 2008 at my traditional 9:30-10:30 PM EST launching time. 1861-1862 Cancellations with various Stars all on Scott 65. 1861-1862 Cancellations with various Numerals and one Free all on Scott 65. The top left cancel of a 3 in a Big C is identified as being from Wasioja, MN. The middle cancel has a small numeral three in the middle of the Maltese cross. 1861-1862 Cancellations with various Compass Point or Rosettes all on Scott 65. 1861-1862 Cancellations with various Circular styles including cog wheels all on Scott 65. 1861-1862 Cancellations with 20 Circular wedges all on Scott 65./> 1861-1862 Cancellations with various Squares, Crossroads & Bars all on Scott 65. 1861-1862 Cancellations with various Targets & Circular all on Scott 65. 1861-1862 Cancellations with various Blue and One Red Cancellation all on Scott 65. Notation on album page suggests the red cancel was for overseas use. Blue cancels are less common than black in this period. 1861-1862 Cancellations with various town cancels including a few manuscript all on Scott 65. 1861-1862 Cancellations with various Numerals all on Scott 88 with a 11 X 13 grill. Scott 88's catalog $25 used vs. $3 for a Scott 65. 1861-1862 Cancellations with various crossroads, circular cancellations all on Scott 88. 1867 Cancellations with various rosettes and crosses all on Scott 94.Scott 94 is red and has a 9 x 13 grill. A 94 used catalogs $10.

1867 Cancellations with various designs including a masonic fez all on Scott 94.

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Procrastinator's Tune Tangled up line fills the bottom of the boat Fishing opener with frustration's sour note Preparation prevents things going wrong Would of, could of, procrastination's song -Robert A. Swart

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Court Jester Why did the chicken cross the road, roll in the mud and cross again? He wanted to be a dirty double crosser. Why did the chicken cross the park??? To get to the other slide Why did the chicken cross the road?? Too long to go around..... What is: peck, peck, peck, BANG, peck, peck, peck BANG?? A chicken in a minefield... I was too chicken to leave it to the above chicken jokes this week so I'm adding this groaner. The poor guy walks up to the rich guy's house. He's down on his luck and needs some money. He rings the doorbell. "Hi there, I'm down on my luck, need some money, and I was wondering if you have any work I could do for you?" The rich Guy decides to give him a break, and says: "Sure, my porch needs painting. I'll pay you 50 dollars to do it for me." "Sure thing, Mister, I'll get started right away!" Time passes, until... "Hey Mister, I'm all done painting!" "Well, here's your 50 dollars" "Thanks, and by the way, it's a Ferrari, not a Porsche."

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CONTACT US: Contact and Subscriber Information

Keep Those Comments Coming!

Editorial contact
(General Comments / Advertising)

Earl Netwal: enetwal@gmail.com

Mailing address:

ETN Covers

5344 36^th Ave S

Mpls., MN 555417

612-724-4392

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Seriously behind in blog posts. But did want to make sure to remind you that the r-run of Haertel Estate unsold covers ends this Sunday. Almost all the minimum bids were cut in half. Many great deals throughout. Don't miss out.

Wow, some nice results for Haertel round 3

The details will need to wait for my newsletter, but the quick news is we had a great results on several items in the third round of the Haertel postal history estate sale. Two items topped $1,000, one topped $3000. A good dozen items in the 200 +/- range.

My favorite fancy cancel was not the top bid getter among the Fancy Cancel group, although it did bring in excess of $150.

Colonial material is hot!
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Also the fourth and final week is off to a great start with over $3,000 in bids on the books already and many items on the move. The Lincoln Campaign letter has climbed steadily from 9.99 to $360 last time I looked. I suspect its got a ways to go yet. The Steamboats appear to have caught peoples eyes. Many others are getting hits and watchers, but no bids yet.
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Last Sunday most of the high bids on the top $ getters were made in the final 5 minutes, probably with sniper programs. That's fine with me, just bid what your willing to pay and make sure you don't wait too close to the end. I'm aware of bids not getting processed properly in the final minute or two. (It's happened to me.) Word to the wise, use a sniper if you wish, just make sure the bid gets in on time, give yourself at least a 5 minute buffer. If someone's going to over bid you, they are going to do it anyway, you at least will be making sure they pay full fare. Sounds like a good plan to me.

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Don't forget most of the unsolds will be re-listed March 6th for 10 days ending the day before St Patrick's Day. The minimum bids on most items have been halved. Should lead to plenty to brisk action. A few lots may get combined. I am particularly thinking of putting some groups of Fancy Cancels together. We'll see if I find time to actually do it.

Final session of the Haertel Estate is now LIVE

The fourth and final section of the Haertel Estates Postal History Collection is now live. It over laps the third section which has been live all the past week and ends this Sunday.

Both session contain outstanding postal history. Material that does not often find its way to eBay.

Ending Sunday are the fascinating array of fancy cancels and a nice selection of stamp less folded letters to and from foreign destination in the colonial to civil war era. Some exceptional items in both groups.

Newly listed are the Lincoln Campaign Letter, About a dozen confederate and or Civil war realted covers, not the least of which is a Free Frank from A H Stephens as Vice President of the Confederacy. Steam Boats, Domestic Ship Mail, Stamped covers from Scott #1 in 1847 through 1900 with domestic and international rates represented with some better stamps as well as better covers. Also a valuable little group of Local Posts on the East Coast and better Express Covers from out west. Also a few 20th century items, including Siberia AEF, Crosby Atom Bomb, US Possessions covers including Guam #12 on cover, Porto Rico Mil Stat, and a few stray items that should have launched in earlier sessions., etc.

Postal History

My Project X Speech First Draft

Below is the draft of my project X speech I gave at toastmasters this week. I didn't give the speech as it was written, and will be making significant changes as I prepare this theme for our annual international Serious Speech Contest. I mentioned this in my newsletter and said I would post it here. So here it is>

Mr. Toastmaster, fellow Toastmasters, welcome guests, At the end of my talk today I will ask each of you a question regarding your “Project X.” Specifically, I will ask you to name your “Project X.”

But first, I want you to think back to about 1 hour ago. Remember what it was like to drive to Toastmasters this morning? Can you see yourself behind the wheel? Now to shift gears a little, may I ask you to see yourself just driving down the free way on a long drive.

Do you ever get to the point while driving where you just zone out? Have you ever arrived at a destination and not actually remember the drive getting there? Or is this just my own personal dementia?

Now, if you will, can you imagine standing on the shoulder of that same freeway, moderately busy with traffic and intent on crossing it on foot.

Quite a contrast of mental attitude, don’t you think?

In the routine of driving the freeway we tend to drift off and operate on auto pilot. And yet in that very same place, in a very different way we are far more engaged when doing that which is out of the ordinary.

In the first case we are in the flow, in the second, we’re not.

Instead, we are acting purposefully. We are particularly paying attention to our personal preservation as we prepare to pedestrian our way across the pavement. We are in full control of our actions. We are alive, if only in a mundane matter.

Our lives are like that freeway trip. To stretch the metaphor, the journey out of the neighborhood starts at 16 with the first car and first accidents. Life is sometimes messy getting out of our childhood family neighborhood. It may take any number of years before a person settles into gear and enjoys cruise control on the family life freeway with all its rewards and merits.

But along the way, our roles in life, as varied and noble or base as they may be, become just a freeway trip.

I suggest we all need to grab a “Project X.” Something outside us, something short, specific, and extraordinary. Something like standing on the shoulder of the freeway, with risk and perhaps no lasting importance.

Something that takes your life off auto pilot and puts you back in charge. Crossing the freeway, but NOT like the chicken with an unknown mission.

Rather, your Project X is something definite. It’s a project that not only can, but will be done. Because, you said so.

And so fellow Toastmasters, the time has come. For me to ask, What will you call your Project X? Select a project outside of everything you are now doing. Give it a name. Make it real to yourself, and then do it.

If your project hasn’t already sprung to mind, name it Project X. Your first project is to find a worthy Project X.

Fellow Toastmasters, while it’s wise to look both ways when crossing the street, it’s imperative that you take the steps required to make it happen.

So, when you settle in behind the wheel of your car later today, start thinking about your Project X.

Let your cockpit be your incubator. (Repeat)

Presidential Free Franks Last Minute Report

With less than 24 hours left five of the presidential free franks have at least minimum bids. Three remain without a bid yet. My minimum on these is 249.99 each, which would be a real steal if anyone actually got one that cheap. Yet stranger things have happened so I'm a little nervous. My expectations are that these should bring 1000+. Lots of lookers, lots of people "Watching" the auctions.

John Q Adams Minimum bid entered at 249.99, 104 people have visited this auction.
James Madison Minimum bid entered at 249.99, 91 people have looked.
Martin Van Buren dual autographs on letter and as free frank. 249.99 bid, 73 looked.
Millard Fillmore no bid, min 249.99, 72 have looked
John Tyler, $260.00 bid, 69 have looked
James Buchanan, no bid, min 249.99, 55 have looked
Martin Van Burn on piece, 249.99 bid, 53 looked
James Garfield, no bid 249.99, 44 looked.

I am surprised by the lower interest in the Garfield item. According to my sources, there are no
known presidential free franks from Garfield, who was assassinated early in his term. As such this Senatorial free frank from him should be a hot item.

I fully expect the bidding to be concentrated in the last couple of hours with a hot and furious final hour and a half starting just before 9:30 PM EST. Less than a third of the items offered have bids, all have moderate to high viewers, and the majority have between 2-10 watchers according to my ebay data.

Its going to be fun to watch. Be sure to get you bids in. Expect a little competition, but last batch almost 30% did not hit their minimums, so expect some bargains as well. Happy hunting!

Postal History

Fancy Cancels up Maritime Stampless Up

Haertel Estate Postal History Auction Update

On Thursday January 31st we launched 50 Folded Letters from
Colonial to 1809 time period. These closed on February 10th. 70 %
of the lots sold. Many at high multiples of their minimum bids. The
unsold will be repriced and auctioned on March 6th.

On February 7th we launched another 120 stampless covers and FLS
from 1810 to 1855, with a number of restored rate covers and other
very desirable rated covers. Also launched February 7th were the
Free Franks, including the presidential free franks from James
Madison, John Quincy Adams & others as well as over 50 other free
franks of all descriptions, many exceptional items. Added to the
mix is a nice collection of better Wisconsin Territorial and DPO
Covers.

All of these will Close this Sunday evening, February 17th.

Yesterday, on Valentines Day we launched a sweetheart of a
collection of over 120 Better Fancy Cancels on cover. This
exceptional selection has some real winners.

Included are a few early precancels including a Glen Allen,
Va red Precancel Star with Cert. Also listed on Valentine's
day was a selection of international stampless covers to and from
the US from colonial times to 1860s with sea postage rates. These will close on February 24th.

The Balance of the Collection will be coming up on the 21st if
I can get it all done on time. That will Include the Lincoln
campaign cover, Confederate covers, stamped postal history to
1900, Express, and some other goodies.

Go now to: Haertel Estate Postal History Auction

Best wishes, etn

Last Sunday evening 77 lots closed with a little over 70% selling for a gross sales amount of $5,482.37.

The remaining lots will be rerun March 6th with any additional unsold lots that occur between now and then. The biggest total for a single cover was $275 for a stampless letter from Hudson NY to Clermont NY rated 6 cents. I have no idea why this cover brought more than some of the others that I would have valued higher.

The next best price went for one of the Civil War patriotic covers showing Uncle Sam Spinning Rope to Hang the Traitors which got $270. In contrast, the unused civil war patriotics brought prices between $10-20 each grouped in lots of 3-5.

I am happy with the results, and confident most of the unsold items will eventually sell. I'll bet several will sell at more than the minimum set the first time around. Time will tell.

Currently, I have the balance of the domestic stampless covers, the Free Franks including the presidential and the Wisconsin Postal History live on eBay. That's a total of 230 lots. I have adjusted my listing policy for this auction having lots close 1 minute apart instead of them all closing at the same time. Several bidders suggested this, and I think it will result in higher bids. With any luck it will help stir up some last minute bidding ferocity.

Later this week, the Fancy cancel collection will be offered. They are all queued and ready to go. I may add additional material, or hold everything else for the 21st. At that point everything from the Haertel estate should be up. Each auction is 10 days so I will probably rerun all the unsolds on March 6th.

I will eventually prepare a prices realized report, but may require people to join my newsletter to access it. Why not just join now, and enjoy my reports from the tundra. That way you can get the prices realized when it's published.

Send a blank email to stepsnewletter@aweber.com to join the weekly newsletter. You can quit at any time. Your email address will not be shared with anyone.

120 More Lots now Live on eBay Haertel Estate

The free franks, Wisconsin Territorial and DPO's, and the continuation of the stampless era from 1810-1850's are now live on eBAy. They will close on Sunday February 17th around 10ish EST.

Several potential bidders prevailed upon me to list items sequentially to permit them to bid on alternate items easier. I have listened and as a result listed items in each category at 1 minute apart. I move the initial starting time for the largest category, the stampless covers, up to 9:30 instead of my previously announced 10PM.

Easiest way to access the collecting is through my eBay store. Just look for the Haertel Auction Category to the bottom of my category list on the left of the page.

Don't forget the items launched last Thursday will close this Sunday. In this case they will all close at 10:00. Lots of lookers, few bids so far. I suspect a lot of sniper bids have been set. Thats fine with me, just be sure to have them launch early enough so an not to get frozen out.

I've had that trouble before with snipe I had placed to end only a few seconds before the auction ended. In more than one case, eBay would accept them because they came to close after another sniper bid or some such. Any way I've been told you need to set you snipe for 30 seconds to minutes before the auction ends or you may get frozen out. Just word to the wise, as there will be some heavy bidding on many of the offerings.

First Postal History Lens Done

I have finished adding covers to the Domestic Stampless FLS and Cover collection from the Haertel Estate. It is on a Squidoo lens. http://www.squidoo.com/etnpresentsPostalHistory

I think it can stand on its own as a basic primer in Domestic Postal History rates in the United States. I welcome your comments, and may at some point invite your submissions to flesh out any weak spots and build a true virtual reference collection online.

I also finished listing the fancy cancels, which will launch on Valentines day night at 10PM.

I hope to build a Fancy Cancel Lens soon. In the meanwhile, I've attached one to help you remember that Fancy Cancels launch on Valentines day. It's got a heart in a bold White Hall, NY star fancy cancel from 1867.

first 100 Postal History FLS on Squidoo.

Well, I've been busy again. The first section of 96 Postal History FLS from 1745 to 1832 have been put on a Squidoo lens.

I hope to add the additional covers as time goes on to preserve the collection I am now selling on eBay.

ETNPresentsPostalHistory

The Haertle Auction Begins Thursday

The first batches of lots will be launched on Thursday January 31st. This first segment will consist of 27 Civil War patriotic covers. These will include 17 postaly used patriotic covers and 10 lots of from 3-5 unused patriotics including at least one confederate patriotic.

<- This is one of the covers, a Cure for Rebellion, free franked in Washignton DC by J Buffington, who I take to be a member of Congress from Rhode Island although I did not check.

Free Franks Now Displayed on Squidoo

I have put up a Squidoo page today, displaying all the FREE Frank Covers that will soon be auctioned as part of the Charles Haertel estate.

The link is http://www.squidoo.com/ETNPresentsFreeFranks

There are

• 9 Presidential Free Franks
• 5 Vice presidential Free Franks
• 4 Presidential Widow Free Franks
• 9 Congressional Free Franks
• 6 Federal Officers & Others including Mexican War item
• 10 Post Office Free Franks including Fancy and Patriotic

Be sure to sign up for email notification as to when lots will launch. Send a blank email to
etnPresents@aweber.com to get put on the official email notification list.

I have just published a lens on Squidoo about the upcoming estate auction. There I have published images of 66 of the 650 or so lots that will be offered. It will give you a great idea of the caliber of material being offered. Check them out.

http://www.squidoo.com/ETNPresentsPublish Post

My past week was largely one of anticipation.

Yesterday, I picked up the Charles W Haertel estate’s postal history collection. I will be preparing it for sale on eBay over the coming weeks.

Included in the collection are presidential free franks, many other better free franks, significant stampless era material, ships boats steamers, domestic rates, Civil War patriotics, Confederate covers, postal currency, Well over 100 very attractive fancy cancels on cover, a section of Wisconsin dpo’s, and more. Highlights so far are a Free Franked cover signed by John Quincy Adams as a Senator. A $1 Guam overprint tied on cover (Guam #12). And an 1860 Lincoln the Railsplitter Campaign cover.

There is a lot of better material in this consignment, and I expect to be putting about 5-600 lots up over the coming few months. I will have these scheduled by next week’s newsletter.

I will be blogging about these on a regular basis. I also intend to set up a separate email alert for the various auctions when they get set up. Be watching for details.

I will build some Squidoo lens on each major category to preview at least some of the better items. While I welcome inquiries, my intention is to sell all the items on eBay.

I will run these as ten day auctions starting on Thursday Nights, perhaps twice a month, perhaps more frequently. Many items will start out at $24.99 many will go for $100’s. I expect to see a few $1000+ items as well.

You will want to be paying attention if you are into 19th century and earlier postal history.


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Last Saturday, I went ice fishing with my new son in law from Turkey and 10 year old grandson at my brother’s ice house on Lake Minnewaska in west central Minnesota.

There for the second weekend in a row, I took the honors for the first fish, the most fish, and the largest fish! Unfortunately, it was also the only fish. I guess I’m bad luck for my fishing mates.

Despite the lack of fishing success, everyone had a great time. We started out on the open ice, drilling holes with a power auger through about 2 feet of ice. There we stood in the roughly 14 degree weather with a slight breeze.

We used both wax worms and tiny crappie minnows, starting at just above the bottom and working our way up. If the fish are there and in a feeding mood, one or the other should eventually work, and in one instance it did and I pulled out an okay sunny but that would be the last of the fish for the day.

Standing on the ice, we could see a line of fish houses stretching at least half a mile consisting of 100’s of little portable ice shanties. They curved in an arc to follow the underwater contour.

Most appeared empty, but cars were alongside many, a couple kids here or there to be seen, and some comings and goings as well a couple nice fish being caught within eye or earshot up and down the line.

Part of our expedition was the moving of my brother’s ice fish house from its previously unsuccessful location to the greener pasture. The process took about an hour and a half, which gave us plenty of time to enjoy standing on the ice, jigging away ever watchful for the illusive crappie bite.

Thus Serder was able to experience the contrasting forms of ice fishing, the stalwart stand on the ice approach and then the cushy roast and toast of the indoor fisherman. I think he enjoyed both, and I am sure his mother in Ankara is already wondering about her son’s sanity as the pictures have long been emailed.

Standing out in the fresh air makes one hungry, so we grilled up some brats and wieners in a baby weber. Add some cookies beer and other gedunk and we were happy campers. Not quite a shore lunch of tasty walleye or crappie but delicious nonetheless.

As we packed up for home, I again marveled at the clear cold night sky, so much darker away from the city and so much more full of stars and wonder.

I only wish we had caught more fish.

Maybe next weekend. etn

Panama Canal First Days
10 day eBay auction
ends Jan 20, 2008

How many of these do you have in your collection?

• 856-1t Panama Canal Crosby Cachet
• 856-3 Panama Canal 3c Grimsland
• 856-5 Panama Canal 3c Clifford/lose
• 856-7 Panama Canal 3c Holland Cachet
• 856-10 Panama Canal 3c Cachet Craft
• 856-16a Panama Canal Fidelity Cachet
• 856 -17 Panama Canal Hux Cut Cachet
• 856-19a Panama Canal 3c House of Farnam
• 856 -21 Panama Canal Linprint
• 856 -22a Panama Canal Ioor
  
• 856-23b Panama Canal Ioor
• 856-25 Panama Canal Coulthard
• 856 -29a Panama Canal Torkel Gundel
• 856-29b Panama Canal Torkel Gundel
  
• 856-30 listed unnamed Panama Canal Cachet
• 856-31 Panama Canal CS Anderson
• 856-? Panama Canal Not in Mellone possible Dietz

Click Here prior to January 20, 2008
To Bid on any or all.
Ask for a 20% discount and
free shipping if you buy 5 or more.

Panama Canal First Day Covers

856-25 Panama Canal 3c Coulthard

Merchantilism a 5-7 minute Toastmaster Speech

Tomorrow, I will be giving a 5-7 minute speech at my Toastmasters meeting. I am a strong proponent of Toastmasters and would be happy to discuss why with anyone interested.

I am not an economic historian. The information in the speech if from research I've done recently on the internet. I am trying to be concise. I'd welcome any thoughtful comments.

Merchantilism

The term Merchantilism is like Capitalism and Socialism except that it didn’t have a single “Father” or document out of which it emerged. It refers to the economic policies and practices of the dominant European powers in the period before the Industrial Revolution and the emergence of Capitalism.

It’s important to understand, as this history is prologue to the economic debates of this day, particularly as we head into a contested presidential election.

While some believe Capitalism is written into our Constitution and Declaration of Independence, it wasn’t. In fact, Adam Smith’s Wealth of Nations was published in England in 1776, the same year as the Declaration of independence. And while both represented death knells for Merchantilism, it took many decades for Capitalism to take hold in society in general and in turn its excesses to cause the rise of Socialism.

In the next few minutes I will share two of the key aspects of Merchantilism, their ramifications and some remaining vestiges in today’s economic world.

An underlying aspect of Merchantilism was the rise of bullion, specifically, the role of bullion coins, silver and gold. In general, the goal of the state became one of acquiring and hoarding gold and silver. This was in turn used to field permanent armies and navies to protect the merchant interests of a nation.

The need to protect merchant interests from piracy and competition created a self renewing bond between the Crown, the military and the merchant classes.

This process accelerated the consolidation of power, and fueled the transition from feudal states into the rise of the nation state. It also led to the European wars that so dominated that continent for the majority of the past 3-400 years. These wars in turn arguably sped the technological advancement of European states, particularly in the military arts.

When we think of Spanish galleons sailing the seas, pieces of 8, and of pirates and buccaneers sanctioned by differing nations, we are seeing just one vestige of the era.

Within the United States the persistence of this “gold lust” is seen in the fact that it was only in 1972 under President Nixon that the US finally moved off the gold standard. And Fort Knox still sits as an icon to the day when gold reserves were the sole measure of a nation’s wealth.

A second key aspect of Merchantilism was that trade was considered a win-lose proposition, with the winner of the gold - the winner. This led to trade policies which placed high tariffs on imported goods, and low tariffs on imported raw materials. Export was the key and retaining technological advantages was critical. Thus England and other countries forbade not only the transfer of technological know-how, but also prohibited the emigration of skilled people.

It wasn’t until 1793, that Samuel Slater opened America’s first Cotton Mill in Pawtucket, RI using memorized plans and starting the industrial revolution in the US.

The goal of producing wealth from the colonies prevented colonials from trading with other nations even when in the colonial interest, in deference to the Sovereign’s needs to hold that market captive to its merchant interests.

Colonies were considered marketplaces for goods from the home country and hegemony was enforced. Britain for example was successful in prohibiting any ships not of English origin to transport goods around England or her colonies that were not flying the Union Jack, with the exception of direct imports from the source country. That meant a Dutch ship could not transport French goods to an English port, but a French ship could as long as it didn’t also carry goods from Holland or elsewhere.

The Declaration of Independence in part, denounced the crown for “cutting off our Trade with all parts of the world.”

Today in the United States we have a similar law known as the Jones Act which only permits US ships the right to haul materials from one US port to another.

The central need to raise wealth for the crown also led to the taxation that so infuriated the American Colonies, leading up to the Boston Tea Party. Rather than allow direct import of tea, the colonies were obliged to buy tea only after it went through the offices of the Crown Company and additional taxes applied.

One of the breakthrough theses of Adams Smith’s Wealth of Nations was that Trade rather than being a one way street, was actually beneficial for both sides. A fact that is still being debated today in our Free Trade - Fair Trade debates.

Alexander Hamilton is today on the $100 bill because he bought into Adam Smith’s ideas and envisioned a trade economy that bolstered both despite the objections of Thomas Jefferson who favored restrictive trade practices designed to protect the growth of the American agricultural economy.

While one can certainly not do full justice to Merchantilism in a 5-7 minute speech. I hope that I have accomplished two things. First, to inoculate you from any arguments that Americanism = Capitalism based on a spurious belief that American was established as a capitalistic country. And second, to demonstrate that even today, we harbor policies within our country that have antecedents to colonial and pre colonial times that are not inherently capitalistic.

To understand the economic issues of today, it helps to have a perspective on the economic polices of the past, and the why and wherefores. I hope you found the information interesting.

etn