Stephen W. Campbell
The Transatlantic Financial Crisis of 1837 produced a global depression that lasted until the mid-1840s. Falling cotton prices, a collapsing land bubble, and fiscal and monetary policies pursued by individual actors and financial institutions in the United States and Great Britain were all responsible. A comprehensive understanding of the panic must take into account the global movements of gold and silver that linked Mexico, China, the United States, and Great Britain in complex networks of credit and debt. In the United States, businesses, banks, and individuals declared bankruptcy; states defaulted on their debts; commodity prices dropped; credit instruments lost their value; and unemployment rose amid a general atmosphere of pessimism and an erosion of confidence. The severity of the panic prompted politicians and financial theorists to reevaluate their ideological assumptions regarding the proper role of governmental regulation in an economy. In a larger sense, the panic demonstrated how the expansion of slavery in the United States, British imperialism, financial speculation, and recurring cycles of boom and bust were emerging as defining features of modern capitalism.
Stephen J. C. Andes
Vatican foreign relations with Latin America comprise both bilateral diplomatic negotiations with states and the Holy See’s spiritual leadership of national Catholic Churches in the region. Apostolic nuncios—papal diplomatic representatives—are the principal intermediaries of Vatican foreign relations. Since the early 19th century, Vatican diplomacy has been the purview of the Papal Secretariat of State, the “foreign relations” branch of the Roman curia.
The beginning of modern Vatican foreign relations with Latin America should be dated to the Napoleonic wars in Europe and the movements for home rule in Spain’s colonies. From 1810–1820, the papacy stood unwavering in its defense of Spanish absolutist claims to the peninsula and to its colonies. Latin American Independence shattered Spanish Royal Patronage and left a legacy of regalism in the region, with which the ultramontane papacy of the 19th century would contend. The professionalization of the Vatican diplomatic corps (1889–1914) conformed papal diplomacy to the norms of the international state system, incrementally increasing the political and spiritual legitimacy of the Holy See after its loss of temporal power to the Italian state, sparking the so-called “Roman Question” (1870–1929).
During the interwar period, Vatican policy centered on concordats and Catholic Action, evincing both a pragmatic approach to diplomacy and a highly regimented and non-party political model of lay activism. Mexico’s Cristero Rebellion (1926–1929) represented the most strident conflict in the period, where Rome’s concordat/Catholic Action policy neither negotiated a durable modus vivendi nor managed to pacify radical lay Catholics until the 1940s. During the pontificate of Pius XII (1939–1958), a strident anti-communism marked the policy of the Holy See, aligning the Catholic Church in Latin America with conservatives and authoritarian leaders. After the Second Vatican Council (1962–1965), the policy of Ostpolitik guided diplomats towards rapprochement with communist and revolutionary states such as Cuba and Nicaragua.
The end of the Cold War temporized the relationship between progressive sectors in the Latin American Church, which had been influenced by Liberation Theology, and the Vatican under John Paul II (1978–2005). A “New Evangelization” campaign was heralded by Pope Benedict XVI (2005–2013). Argentine Jesuit and Cardinal Jorge Mario Bergoglio crafted many of the seminal documents for the New Evangelization. Bergoglio, elected Pope Francis in 2013, emphasized the socio-economic and the spiritual aspects of Vatican policy, bring issues of poverty, economic inequality, and justice to center stage, fostering a diplomacy of piccoli passi (small steps) and brokering improved relations between the United States and Cuba.
Aridity, a significant characteristic of the U.S.–Mexico borderlands, has affected water use patterns for different groups of people in this region for thousands of years. From indigenous groups to European invaders and colonizers to 20th- and 21st-century farmers, ranchers, and policy-makers in Mexico and the United States, controlling the area’s scarce water resources has been a vital concern for survival and economic success. Given that an international border divides the region, national-era relations between the United States and Mexico often have been marked by water issues and the development of water projects and policies. And on both sides of the border these projects and policies have caused environmental changes that merit attention. Much of that history revolves around agricultural development with the need to ensure steady sources of water for irrigation. But industry and urban areas have also been enormous consumers of scarce water resources in the region, issues that are discussed here.