The Southwestern Historical Quarterly, Volume 77, July 1973 - April, 1974 Page: 226

Southwestern Historical Quarterly

their wealth was small in comparison with that of the nabobs of the North,
and their wartime profits were insufficient to provide the necessary risk
capital to finance the economic reconstruction of postwar Texas and to
launch the Lone Star state into the industrial age. Only outside capital
could fill those needs.
The new Texas trade routes developed on the far western Gulf during
the war proved to be only temporary. The foreign ports of the Gulf and the
Carribean were not important to the economic life of Texas over the next
generation. New Orleans once more became an important link in the Texas
trade, but she never again played the dominant role in the commercial ac-
tivity of her neighbor as she had done in antebellum days. By the time
Texas commodity production and trade reached their prewar levels, the
transportation and communications revolution had ushered in a new era
that left the Crescent City far behind. The more direct and faster links now
provided the thoroughfares for carrying on commerce with the North and
Europe.80
800n the patterns of trade in the postwar era, see L. Tuffly Ellis, "The Revolution-
izing of the Texas Cotton Trade, 1865-1885," Southwestern Historical Quarterly,
LXXIII (April, 1970), 478-508, and "The New Orleans Cotton Exchange: The For-
mative Years, 1871-1880," Journal of Southern History, XXXIX (November, 1973),
560-562; M. B. Hammond, The Cotton Industry: An Essay in American Economic His-
tory (New York, 1897), 291-292, 294-296, 298-299.

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Texas State Historical Association. The Southwestern Historical Quarterly, Volume 77, July 1973 - April, 1974, periodical, 1973/1974; Austin, Texas. (texashistory.unt.edu/ark:/67531/metapth117148/m1/260/ocr/: accessed September 22, 2018), University of North Texas Libraries, The Portal to Texas History, texashistory.unt.edu; crediting Texas State Historical Association.

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