Skip to main content

Canadian Entrepreneurs and the Preservation of the Capitalist Peace in the North Atlantic Triangle in the Civil War Era, 1861–1871


In their 2013 book Reimagining Business History, Philip Scranton and Patrick Fridenson called on business historians to reassess militarization and the “two-way exchanges” between the military and the private sector. The call is timely. The extensive business-historical scholarship on the relationship between companies and war sensibly focuses on companies that profited from their involvement in the military-industrial complex. 1 The business-historical literature is virtually silent, however, on the role of business in preventing wars from starting in the first place. In other words, business historians have missed a productive opportunity to engage with capitalist peace theory (CPT), an increasingly important theory in the discipline of international relations (IR). Many IR scholars now argue that the mutual economic interdependence characteristic of global capitalism reduces the likelihood of war. Their research suggests that while extensive cross-border economic linkages do not preclude the possibility of war, the creation of a transnational community of economic interests tends, ceteris paribus, to reduce the frequency, duration, and intensity of warfare. 2

Hide All
Cobden Richard. The Three Panics An Historical Episode. London: Ward & Co, 1862.
Denison George Taylor. Canada: is She Prepared for War? Toronto: Leader and Patriot Steam Press, 1861.
Denison George Taylor. Soldiering in Canada: Recollections and Experiences. London: Macmillan and Company, 1900.
Denison George T. The Struggle for Imperial Unity; Recollections and Experiences. London: Macmillan and Co, 1909.
Haliburton Thomas Chandler. An Address on the Present Condition, Resources and Prospects of British North America. Montréal: John Lovell, 1857.
Jervois William. Letter to the Secretary of State for War with Reference to the Defence of Canada. London: Eyre and W. Spottiswoode, 1865.
Morley John. The Life of Richard Cobden: In Two Volumes. London: Chapman and Hall, 1881.
Wolseley Garnet. The American Civil War, an English view. Charlottesville: University Press of Virginia, 1964.
[Ridgway, Pennsylvania] Elk Advocate , “A Military Railroad” 14 March 1868.
Boston Daily Advertiser , “The Defence of Canada,” 10 March 1865.
Cleveland Daily Herald , “Defences of Canada,” 18 March 1865.
[London] Daily News , “The Canada Militia Bill,” Tuesday, 17 June 1862
Economist , “The Canadian Proposal to Purchase the Hudson’s Bay Company,” 14 October 1865, 1236.
Fellows Francis. “Progress of International Law with Reference to the Objects of Peace Societies,” American Advocate of Peace, June 1834.
Financial Reformer , “Our Colonial Wars,” May 1862, 591–2.
Frank Leslie’s Illustrated Newspaper , “Among All Irrational Schemes,” 29 July 1865.
Milwaukee Daily Sentinel , “The Defences of Canada,” 20 July 1864.
Montreal Trade Review , “Canadian Defences,” 10 March 1865.
Montreal Trade Review , “Defence of British America,” 5 May 1865, 195.
Montreal Trade Review , “Defences of Canada,” 28 April 1865, 181.
New York Times , “Canada: Changes of Fifteen Years”, 3 October 1874.
New York Times , “Jefferson Davis in Canada-Rebel View of His Reception,” 13 June 1867.
The Advocate of Peace , “Colonel Roosevelt Pacifist,” Vol. 78, No. 6. June 1916: pp. 159160.
The Economist , “The Defences of Canada,” 25 February 1865.
The Milwaukee Sentinel , “Chicago,” October 25, 1871.
The Presbyterian , “Address from the Committees of the London American Peace Society to the Friends of Peace,” November 1870, 265–6.
The True Witness and Catholic Chronicle , “How the War Goes,” 9 February 1855, 1.
Toronto Globe , “Defeat of the Ministry,” 21 May 1862, 2.
Toronto Globe , “National Prejudice,” 20 February 1862, 2.
Toronto Globe , “The Militia Bill,” 10 April 1862, 2.
Volunteer Review and Military and Naval Gazette , 28 August 1871, 552.
Canada, Province of. Report of the Minister of Finance on the Reciprocity Treaty with the United States. Quebec: Printed by S. Derbishire and G. Desbarats, 1862.
Canada, Province of. Sessional Papers, Second Session of the seventh Parliament of the Province of Canada, session 1863. Quebec: Hunter, Rose & Co., 1863.
Canada Hansard. Parliamentary Debates on the Subject of the Confederation of the British North American Provinces. Quebec: Hunter, Rose & Co., 1865.
United Kingdom Hansard.
Bank of Montreal Archive, Glyn Baring Papers.
Bank of Montreal Archive, Head Office Circulars.
Bank of Montreal Archives, BMOA, Board of Directors Minutebooks.
Harvard Business School Library, Dun & Bradstreet Corporation Records.
Library and Archives Canada, Sir John A. Macdonald Fonds.
Library of Congress, Abraham Lincoln Papers.
United Kingdom National Archives, Colonial Office 42/652.
University of Liverpool Archives and Special Collections, Rathbone Papers.
Anderson-Gold Sharon. “Philosophers of Peace: Hobbes and Kant on International Order.” Hobbes Studies 25, no. 1 (2012): 620.
Bank of Montreal. The Centenary of the Bank of Montreal, 1817–1917. Montreal: The Bank, 1917.
Blackett Richard. Divided Hearts: Britain and the American Civil War. Baton Rouge: Louisiana State University Press, 2001.
Bourne Kenneth. Britain and the Balance of Power in North America, 1815–1908. Berkeley: University of California Press, 1967.
Brebner John Bartlet. North Atlantic Triangle. New Haven: Yale University Press, 1946.
Brekenbridge Roeliff M. The Canadian Banking System, 1817-1890. Toronto, 1894.
Burr Christina. Canada’s Victorian Oil Town: The Transformation of Petrolia from Resource Town into a Victorian Community. Montreal: McGill-Queen’s Press-MQUP, 2006.
Carosso Vincent P. and Carosso Rose C.. The Morgans: Private International Bankers, 1854–1913. Cambridge, MA: Harvard University Press, 1987.
Ceadel Martin. The Origins of War Prevention: the British Peace Movement and International Relations, 1730-1854. Oxford University Press, 1996.
Clark Robert Carlton. “The Diplomatic Mission of Sir John Rose, 1871,” The Pacific Northwest Quarterly 27, no. 3 (1936): 227242.
Conway Stephen. “Bentham on Peace and War,” Utilitas 1, no. 1 (1989): 82101.
Cook Adrian The Alabama Claims: American Politics and Anglo-American Relations, 1865–1872. Cornell University Press, 1975.
Currie Archibald William. The Grand Trunk Railway of Canada. Toronto: University of Toronto, 1957.
Dafoe Allan and Russett Bruce M., “Democracy and Capitalism: Interwoven Strands of the Liberal Peace” in The Capitalist Peace: The Origins and Prospects of a Liberal Idea Konstanz: Bibliothek der Universität Konstanz, 2010.
Day Frank. Here and There in Eramosa. Guelph, Ont.: Rockwood, Leaman Printing Co., 1953.
Edsall Nicholas C. Richard Cobden, Independent Radical. Cambridge: Harvard University Press, 1986.
Eloranta Jari. “From the great illusion to the Great War: Military spending behaviour of the Great Powers, 1870–1913.” European Review of Economic History 11, no. 2 (2007): 255283.
Forster Ben. “Mackenzie, Alexander.” in Dictionary of Canadian Biography, vol. 12, University of Toronto/Université Laval, 2003–, accessed May 11, 2015,
Gartzke Erik. “The Capitalist Peace.” American Journal of Political Science 51, no. 1 (2007): 166191.
Gillespie W. Irwin. Tax, Borrow and Spend: Financing Federal Spending in Canada, 1867-1990. Ottawa: Carleton University Press, 1991.
Greenberg Dolores. Financiers and Railroads, 1869-1889: a Study of Morton, Bliss and Company. Newark: University of Delaware Press, 1980.
Hammond Bray. Banks and Politics in America. Princeton: Princeton University Press, 1957.
Harris Stephen J. Canadian Brass: the Making of a Professional Army, 1860–1939. Toronto: University of Toronto Press, 1988.
Headley John W. Confederate Operations in Canada and New York. New York: Neale, 1906.
Hodgins Bruce W. John Sandfield Macdonald, 1812–1872. Toronto: University of Toronto Press, 1971.
Hudson Michael. “Entrepreneurs: From the Near Eastern Takeoff to the Roman Collapse,” in Landes David S., Mokyr Joel, and Baumol William J., eds. The Invention of Enterprise: Entrepreneurship from Ancient Mesopotamia to Modern Times. Princeton: Princeton University Press, 2012.
James Harold. Krupp: A History of the Legendary German Firm. Princeton: Princeton University Press, 2012.
Johnson Ludwell H. “The Business of War: Trading with the Enemy in English and Early American Law.” Proceedings of the American Philosophical Society (1974): 459470.
Jones Howard. Blue and Gray Diplomacy. Chapel Hill: University of North Carolina Press, 2010
Klassen Henry C. Luther H. Holton: A Founding Canadian Entrepreneur. Calgary: University of Calgary Press, 2001.
Little J. I. “From Borderland to Bordered Land: Reaction in the Eastern Townships Press to the American Civil War and the Threat of Fenian Invasion.” Histoire sociale/Social history 45, no. 89 (2012): 124.
Lower A.R.M., Saunders S. A., and Carrothers W. A., The North American Assault on the Canadian Forest: A History of the Lumber Trade between Canada and the United States. New York: Greenwood Press, 1968.
Luvaas Jay. “General Sir Patrick MacDougall the American Civil War and the Defence of Canada” Report of the Annual Meeting of the Canadian Historical Association, 41 (1962): 4454.
MacLaren Roy. Commissions High Canada in London, 1870-1971. Montreal: McGill-Queen’s University Press, 2006.
MacLean Guy. “The Georgian Affair: An Incident of the American Civil War.” Canadian Historical Review 42, no. 2 (June 1961), 137–40.
Manzer R.A. “The Promise of Peace? Hume and Smith on the Effects of Commerce on War and Peace.” Hume Studies 22, no. 2 (1996): 369–82.
Marquis Greg. In Armageddon’s Shadow: the Civil War and Canada’s Maritime Provinces. Montreal: McGill-Queen’s University Press, 1998.
Masters Donald C. The Reciprocity Treaty of 1854. London: Longmans Green, 1937.
Matthew H.C.G. Gladstone, 1809–1898. Oxford: Oxford University Press, 1997.
McClenahan William M. and Becker William H., Eisenhower and the Cold War Economy. Baltimore: Johns Hopkins University Press, 2011.
McCloskey Deirdre N. The Bourgeois Virtues: Ethics for an Age of Commerce. Chicago: University of Chicago Press, 2010.
McDonald Patrick J. The Invisible Hand of Peace: Capitalism, the War Machine, and International Relations Theory. Cambridge: Cambridge University Press, 2009.
McPherson James M. Battle Cry of Freedom: The Civil War Era. New York: Oxford University Press, 1988.
Meardon Stephen. “Richard Cobden’s American Quandary: Negotiating Peace, Free Trade, and Anti-Slavery.” In Rethinking Nineteenth-century Liberalism: Richard Cobden Bicentenary essays, edited by Howe Anthony, Morgan Simon. Aldershot: Ashgate, 2006, 208228.
Messamore Barbara Jane. Canada's Governors General, 1847–1878: Biography and Constitutional Evolution. Toronto: University of Toronto Press, 2006.
Miller J.R. Skyscrapers Hide the Heavens: A History of Indian-white Relations in Canada. Toronto; University of Toronto Press, 2000.
Millett Allan R. and Maslowski Peter, For the Common Defense: a Military History of the United States of America. New York: Simon and Schuster, 2012.
Milner Marc. Canada’s Navy: the First Century. Toronto: University of Toronto Press, 1999.
Nelles H.V. “Gzowksi, Sir Casimir Stanislaus Gzowksi.” in Dictionary of Canadian Biography, vol. 12, University of Toronto/Université Laval, 2003–, accessed January 15, 2015,
Newmeyer R. Kent. Supreme Court Justice Joseph Story: Statesman of the Old Republic.Chapel Hill: Univ of North Carolina Press, 1986.
Nicholls David. “Richard Cobden and the International Peace Congress Movement, 1848–1853,” The Journal of British Studies 30, no. 4 (1991): 351376.
O’Rourke Kevin H. and Williamson Jeffrey G.. Globalization and History: The Evolution of a Nineteenth-Century Atlantic Economy. Cambridge, MA: MIT Press, 1999.
Officer Lawrence H. and Smith Lawrence B.. “The Canadian-American reciprocity treaty of 1855 to 1866,” The Journal of Economic History 28, no. 04 (1968): 598623.
Preston Richard Arthur. The Defence of the Undefended Border: Planning for War in North America, 1867–1939. Montreal: McGill-Queen’s University Press, 1977.
Rahe Paul A. Montesquieu and the Logic of Liberty. New Haven: Yale University Press, 2009.
Read Donald. Cobden and Bright: a Victorian Political Partnership. London: Edward Arnold, 1967.
Richardson Lynn E. “Young, James (1835–1913).” in Dictionary of Canadian Biography, vol. 14, University of Toronto/Université Laval, 2003–, accessed September 3, 2014,
Roussel Stéphane. The North American Democratic Peace: Absence of War and Security Institution-Building in Canada-US Relations 1867–1958. Montreal: McGill-Queen’s University Press, 2003.
Sally Razeen. Classical Liberalism and International Economic Order. London: Routledge, 1998.
Schneider Gerald. “Peace through globalization and capitalism? Prospects of two liberal propositions.” Journal of Peace Research vol. 51 no. 2 (2014): 173183.
Schurman Donald M. Imperial Defence, 1868–1887. London: Routledge, 2000.
Scranton Philip and Fridenson Patrick. Reimagining Business History. Baltimore: Johns Hopkins University Press, 2013.
Searle G.R. Entrepreneurial Politics in mid-Victorian Britain. Oxford: Oxford University Press, 1993.
Sexton Jay. Debtor Diplomacy: Finance and American Foreign Relations in the Civil War Era 1837–1873. Oxford: Oxford University Press, 2005.
Shannon Richard. Gladstone, vol. 1, 1808–1865, London: Methuen, 1984.
Sheehan James J. Where Have All the Soldiers Gone?: The Transformation of Modern Europe. New York: Houghton Mifflin Harcourt, 2009.
Shotwell James T. “A Personal Note on the Theme of Canadian-American Relations,” Canadian Historical Review 28, no. 1 (1947): 3143.
Simon Matthew. "The United States Balance of Payments, 1861–1900." In Trends in the American economy in the nineteenth century, pp. 629716. Princeton University Press, 1960.
Skelton Oscar Douglas. The Life and Times of Sir Alexander Tilloch Galt. Oxford: Oxford University Press, 1920.
Spurr John W. “The Kingston Garrison, 1815–1870.” In Tulchinsky Gerald, ed. To Preserve & Defend (Montreal: McGill-Queen's Press, 1976), 103118
Stacey Charles P. “Britain’s Withdrawal from North America, 1864–1871,” Canadian Historical Review 36, no. 3 (1955)_: 185198.
Stacey Charles P. “Canada and the Nile Expedition of 1884–85.” Canadian Historical Review 33, no. 4 (1952): 319340.
Stacey Charles Perry. Canada and the British Army, 1846–1871: a Study in the Practice of Responsible Government. Toronto: University of Toronto Press, 1963.
Thompson John Herd and Randall Stephen J., Canada and the United States: Ambivalent Allies. Athens: University of Georgia Press, 1994.
Tulchinsky Gerald. “Introduction.” In To Preserve & Defend: Essays on Kingston in the Nineteenth Century. Edited by Tulchinsky Gerald. Canada: McGill-Queen’s University Press, 1976.
Ugland Trygve. Jean Monnet and Canada: Early Travels and the Idea of European Unity. Toronto: University of Toronto Press, 2011.
Verner William Willoughby Cole and Darwin- Parker Erasmus, The Military Life of H. R. H. George, Duke of Cambridge. London: J. Murray, 1905.
Vineberg Robert. “The British Garrison and Montreal Society, 1830–1850.” Canadian Military History 21, no. 1 (2015): 316.
Vronsky Peter. Ridgeway: The American Fenian Invasion and the 1866 Battle That Made Canada. Toronto: Allen Lane Canada, 2011.
Weede Erich. “The Capitalist Peace.” In Coyne Christopher J. and Mathers Rachel L., eds. The Handbook on the Political Economy of War. Cheltenham: Edward Elgar Publishing, 2011, 269280.
Wilkins Mira. The History of Foreign Investment in the United States to 1914. Cambridge, Mass: Harvard University Press, 1989.
Wilkins Mira. The Emergence of Multinational Enterprise: American Business Abroad from the Colonial Era to 1914. Cambridge, Mass: Harvard University Press, 1970.
Winks Robin W. Canada and the United States: the Civil War Years. Baltimore: Johns Hopkins Press, 1960.
Ziegler Valarie H. The Advocates of Peace in Antebellum America. Bloomington: Indiana University Press, 1992.
Historical Statistics of the United States , Colonial Times to 1970. Washington, D.C.: U.S. Department of Commerce, Bureau of the Census, 1975.
Johnston Louis and Williamson Samuel H., “What Was the U.S. GDP Then?” MeasuringWorth, 2013. URL:
Urquhart M.C. Historical Statistics of Canada. Ottawa: Statistics Canada, 1983.
Recommend this journal

Email your librarian or administrator to recommend adding this journal to your organisation's collection.

Enterprise & Society
  • ISSN: 1467-2227
  • EISSN: 1467-2235
  • URL: /core/journals/enterprise-and-society
Please enter your name
Please enter a valid email address
Who would you like to send this to? *