America’s First Subsidy Disaster

The fur trade was a major industry in the early years of the United States and was a worldwide enterprise. America’s first President, George Washington, sought to use this as a tool to prevent the recently defeated British from building alliances with American Indians and restarting another war. President Washington also wanted to secure America’s foothold in global markets. Unfortunately, the subsidy he created to do this produced little more than complacency within those that took advantage of it, and nearly led to more government interference in the private affairs of American nationwide.

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