But they couldn’t approve the secretary’s demand that this gigantic sum be paid in gold. They agreed to his request for an immediate $50 million, with the possibility of another $100 million in due course. (The federal government’s total annual expenditure during the 1850s had averaged less than $60 million.) Chase had come to see the representatives of the Associated Banks, the nation’s leading financiers, who were attentive to the perils of the moment. Bull Run had destroyed hopes of a swift end to the fighting, and the war was already costing more than $1 million per day. Chase traveled from Washington to New York in search of money. This wide-ranging and penetrating study will be of great interest to historians, political scientists, and students of international relations.In August 1861, a couple of weeks after the Union’s disastrous defeat at Bull Run, Treasury Secretary Salmon P. A European consensus on a new political balance was developed, with new rules to maintain it, ushering in a uniquely peaceful, progressive period in European international politics. The Vienna Settlement established peace, he demonstrates, by abandoning, not restoring, the competitive balance-of-power politics of the eighteenth century, and devising a new political equilibrium in its stead.
He shows how the practice of international politics was transformed in revolutionary ways with extensive and beneficial effects. Schroeder also provides a new sharply revisionist account of the course of international politics over these years and a major reinterpretation of the structure and operation of the international system. Schroeder examines the wars, political crises, and intricate diplomatic transactions of the age, many of which, especially the Revolutionary and Napoleonic Wars, and the Congress of Vienna and its aftermath, had far-reaching consequences for modern Europe. Paul Schroeder's comprehensive and authoritative addition to the Oxford History of Modern Europe charts the course of international history over the turbulent era of 1763-1848 in which the map of Europe and much of the world was redrawn time and again. Taylor's classic The Struggle for Mastery in Europe 1848-1918. This landmark study of European international politics is a worthy complement to A.J.P.
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