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The Influence of British Capital on the Western Range-Cattle Industry*

Published online by Cambridge University Press:  03 February 2011

Herbert O. Brayer
Affiliation:
Northwestern University

Extract

It is my purpose in this paper to sketch briefly one heretofore ignored facet in American economic history: the influence of British capital, knowledge, and livestock in the growth, development, and eventual decline of the Western range-cattle industry during that colorful, though all too frequently disastrous, period between the American Civil War and the end of the century. Although the locale of this story would seem to confine its interest and importance largely to the West, it was, in fact, an incident of profound national and international importance. It filled the press of the United States with glowing descriptions of great baronial estates teeming with hundreds of thousands of head of cattle; it brought about long articles of analysis, praise, sharp criticism, and denunciation in the British press; it resulted in an internationalbattle of words involving at least three American secretaries of agriculture, presidents of the Board of Trade, ministers of agriculture, and chancellors of the exchequer. There were rude questions in the House of Commons and pointed inquiries in Lords. There were even letters to The Times!

Type
Articles
Copyright
Copyright © The Economic History Association 1949

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References

* Sources for the data given in this paper will be given in a forthcoming publication of the Western Range Cattle Industry Study of which I am director. In general, however, the paper is based on the actual corporate records of each of the cattle companies listed herein, which were located, microfilmed, or transferred to this project. Documentary files of the London and Edinburgh stock exchanges as well as the Companies Registration Offices in the same cities provided additional source materials.