THE VIRGINIA DYNASTY 1801 1825
PRESIDENT JEFFERSONS ELECTION AND JEFFERSONIAN DEMOCRACY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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earned more money
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lost money
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saw no change in the money they earned
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could on sell goods out of New Orelans
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Detailed explanation-1: -It hurt the American economy far more than the British or French, and resulted in widespread smuggling. Exports fell from $108 million in 1807 to just $22 million in 1808. Farm prices fell sharply. Shippers also suffered.
Detailed explanation-2: -Although the embargo was successful in preventing war, its negative consequences forced President Jefferson and Congress to consider repealing the measure. The American economy was suffering and American public opinion turned against the embargo.
Detailed explanation-3: -In response to the embargo, the U.S. government imposed fuel rationing and lowered speed limits to reduce consumption. Nixon seriously considered military action to seize oil fields in Saudi Arabia, Kuwait, and Abu Dhabi as a last resort.