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Germany, whose colonialism came later, because home and nearby markets longer absorbed the product of her machines, brought under her dominion from 1884 to 1899 1,000,000 square miles with an estimated population of 14,000,000." This is a picture of the political effects that followed the economic causes summed up in the term "financial imperialism."
On the other hand, if Jeffersonian democracy was the representative of all the individualistic tendencies of the later science of political economy, Hamiltonian federalism represented the necessary corrective force of law. It was in many respects a strong survival of colonialism.
Both in act and in word the Conservative chieftain oftentimes lapsed from this statesmanlike view into the prevalent colonialism; but he did much to make his vision a reality, for it was Macdonald who, with the aid of political friend and political opponent, laid the foundations upon which the statesmen of the new generation have built an enduring fabric.
That was to me a subject of intense interest, now that I was fully aware of the situation after a hundred and fifty years of exploitation, seventy-five years of French domination, and thirty years of colonialism. The nature of the people was little changed.
Today the great industrial nations of Europe, as well as Japan, have regained their economic strength; and the nations of Latin America and many of the nations who acquired their freedom from colonialism after World War II in Asia and Africa have a new sense of pride and dignity and a determination to assume the responsibility for their own defense.
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