Most people don’t realize that things weren’t so great after the 13 American colonies officially gained their independence from Great Britain in 1783.
In prominent states like Massachusetts, there was significant economic inequality between the more affluent coastal areas and the humbler hinterlands.
Many of the residents of Massachusetts’s hinterlands were Revolutionary War veterans who pursued meager agricultural livelihoods.
To make matters worse, businesses across the state demanded farmers to make immediate payment for goods that they previously purchased on credit. Oftentimes, these farmers paid off their debts via barter.
However, there was no paper money available nor any gold or silver for the farmers to use to settle their debts. On top of that, citizens of Massachusetts were stuck with paying higher taxes than they had to pay under the British Crown.
As farmers struggled to pay off debts and taxes, Massachusetts government officials started arresting farmers and foreclosing on their farmlands.
Initially, the farmers rose in protest and pursued peaceful means to settle their disputes with the debtors’ courts.
In time, the farmers’ patience wore thin, and they started taking direct action in August 1786 against debtors’ courts. Throughout Massachusetts protesters gathered to block judges from entering courthouses.
As the protests mounted, the disgruntled Western Massachusetts farmers were searching for a viable leader.
Daniel Shays was a farmer and Revolutionary War veteran who answered the leadership call. He grew in prominence during the growing protests and quickly became the main protest leader.
Initially, Shays led roughly 600 men to close a court in Springfield, Massachusetts. The original intention was to use peaceful means to settle these economic disputes.
Shays then entered negotiations with General William Shepard to open the court while letting protesters surround the court. The court eventually shut its doors after it couldn’t find any people to do jury duty.
Despite Shays’ efforts to negotiate, the situation in Massachusetts got out of hand Shays and his band of disgruntled protesters marched on the Springfield Armory in efforts to take control of its armaments and launch a full-blown insurrection. This prompted the political class to take political action.
In January 1787, Governor James Bowdoin amassed a private army of 4,400 men. Under the command of General Benjamin Lincoln, these troops helped put down the rebellion, which caused Shays and his wife to flee to Vermont.
There were abortive attempts to relaunch the rebellion from Vermont with Revolutionary War hero Ethan Allen at the helm. Eventually these acts of rebellion fizzled out.
In the summer of 1787, newly elected Governor John Hancock pardoned a large portion of the participants in Shays’ uprising.
Subsequently, the state legislature enacted a moratorium on debts and slashed taxes, thereby relaxing the economic burden the rebels had to shoulder.
Shays himself was pardoned in 1788. He later survived on a military pension and lived a life of poverty until his death in 1825 in Sparta, New York.
Shays’ Rebellion wasn’t just a random uprising. It showcased the economic anxieties that many Americans felt during the early days of the American Republic.
In this epoch of American history, the US was governed by the Articles of Confederation. The Articles were largely perceived as institutionally frail.
Naturally, the Federalists and similar proponents of a more centralized federal government used Shays’ uprising to advance their centralist agenda.
The Federalists’ arguments were so convincing that they compelled Revolutionary War hero George Washington to come out of retirement and get involved in the Constitutional Convention.
After the Constitution was ratified in 1788, Washington would soon become the first president of the US. From there, the US would usher in the world’s most stable constitutional order.
This institutional stability has allowed the US to develop the most robust business culture in human history. There’s no other nation where business is held in such high regard.
Like any other country, the US has its flaws. But you should be thankful for being able to live in a country that respects financial self-improvement.
Living in such a pro-business polity like the US allows individuals to achieve financial autonomy should they choose this route. This is the best defense against what the economic and political elements throw at you.
In light of the major economic and geopolitical instability blazing across the globe, it’s no exaggeration to say that we could witness multiple Shays’-style rebellions throughout the 21st century.
Certain forms of economic upheaval are to be expected. And you should always be prepared for the worst.
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