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TRUEFALSE
(A) True
(B) False
Answer : (B)
2. Both exporting and importing are taken into account when calculating balance of trade.
(A) True
(B) False
Answer : (A)
(A) True
(B) False
Answer : (A)
4. By trying to be self-sufficient and producing a wide range of goods, mercantilist policies help
sustain the wealth of a nation in the long run.
False
Answer : (B)
5. The theory of absolute advantage is categorized as a classical theory of international trade.
(A) True
(B) False
Answer : (A)
(A) True
(B) False
Answer : (A)
(A) True
(B) False
Answer : (B)
8. The Heckscher-Ohlin theory proposed that nations will develop comparative advantage based on
their locally abundant factors.
False
Answer : (A)
(A) True
(B) False
Answer : (A)
10. The product life cycle theory is the first dynamic theory to account for changes in the patterns of
trade over time.
False
Answer : (A)
11. Government intervention in international trade was proposed by the factor endowment theory.
(A) True
(B) False
Answer : (B)
12. The strategic trade theory was mainly proposed for low capital-investment industries.
(A) True (B)
False
Answer : (B)
13. Strategic trade theory advocates mercantilist policy for all industries.
(A) True
(B) False
Answer : (B)
14. The product life cycle theory is popularly known as the "diamond" theory.
(A) True
(B) False
Answer : (B)
15. The theory of national competitive advantage of industries does not take domestic demand
conditions into account.
False
Answer : (B)
16. Factor endowments is one of the four interacting aspects of the theory of national competitive
advantage of industries.
False
Answer : (A)
17. Classical theories are based on the assumption of perfect resource mobility.
(A) True
(B) False
Answer : (A)
18. Classical theories assume no foreign exchange complications.
(A) True
(B) False
Answer : (A)
19. The theory of national competitive advantage of industries assumes that comparative advantage
always resides in the lead innovation nation.
False
Answer : (B)
20. The product life cycle theory explains patterns of trade based on factor endowments.
(A) True
(B) False
Answer : (B)
21. The absolute advantage theory is considered as the forerunner of the free trade movement.
(A) True
(B) False
Answer : (A)
22. In the context of tariff barriers, net losses that occur in an economy as a result of tariffs are
known as deadweight costs.
False
Answer : (A)
(A) True
(B) False
Answer : (B)
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Lieutenant Beauregard, of the engineers, bandaged from a wound,
dashed from the plaza, evidently bearing dispatches. About eight o’clock
the clatter of hoofs sounded. The Dragoons were coming. Then—
“Huzzah! Huzzah! Huzzah! Huzzah for Old Fuss and Feathers!”
General Scott, plumed and girted and gloved, in full uniform
complete, towered at the front. Led by Colonel Harney and Major
Sumner, the dragoons, their mounted band in the advance, at a carry
sabers, filled the street from curb to curb. They, too, were spick and span.
“Hail to the Chief!” That was the tune being played. The general and
escort swept by at a rapid trot, while the bands and the field music of the
Worth column likewise played “Hail to the Chief.” The Mexican
spectators forgot themselves, and cheered and clapped. No one could
deny that the chief and his cavalry made a splendid sight.
“Column—forward—quick time—march!”
The Worth men might move in at last. The street was so blocked that
the end files of the companies were obliged to brush the people from the
way. In the plaza the Second Dragoons band was playing “Yankee
Doodle.” The plaza also was crowded. There seemed to be hundreds of
blanketed, dirty beggars under foot. The dragoons rode right and left,
clearing the plaza with the flats of their sabers, but careful to harm
nobody.
“Column, halt!”
Just as General Worth was about to give orders a volley burst from the
top of a building; the balls pelted in, aimed at him and his staff; but they
passed over. Colonel Garland clapped his hand to his side, and in
Company B Lieutenant Sidney Smith sank limply.
As if the volley had been a signal other shots sounded; paving stones
rained down. It looked like a trap. Here were five thousand Americans,
almost the whole army, in the plaza and surrounded by buildings and two
hundred thousand people.
The orders were quick. In an instant Duncan’s battery and the Reno
howitzers galloped to the plaza corners; Steptoe’s and Drum’s and
Taylor’s guns were being unlimbered. Aides from General Scott were
spurring hither thither; skirmish squads were being told off, and ordered
to search the streets and buildings. The dragoons galloped. The howitzers
battered the building from which the first volley had issued. Now all
around the plaza there echoed the clatter of hoofs, the thud of running
feet, and the ringing reports of musket and rifle.
A number of leading Mexican citizens apologized to General Worth
and General Scott, and offered help to put down the insurrection. The
trouble-makers were two thousand convicts who had been set free by
Santa Anna.
The firing in the streets continued throughout the day, while the
reserves waited under arms. At night things had quieted somewhat. The
First Division bivouacked in the Alameda. After strong outposts had
been placed the men might talk again. What a two days, September 13
and 14, that had been! And this was the end of the campaign in the Halls
of Montezuma.
The Riley men, quartered with the First, could tell the news from the
Quitman column. They had been at Chapultepec, and upon the road to
the Belen gate. The casualties were heavy. Major Loring, of the Rifles,
had lost an arm. The Drum battery had been cut to pieces at the gate—
Captain Drum and First Lieutenant Benjamin killed. Lieutenant-Colonel
Baxter, commanding the New Yorkers, was dying; Major Gladden,
commanding the Palmettos, was wounded. General Shields’ wounded
arm was in bad shape. General Pillow would recover; was in the hospital
at Chapultepec. The South Carolinans were holding the Belen gate; the
Second Pennsylvanians were garrisoning the fort inside.
Colonel Garland, it was said, would get well; but Lieutenant Smith
was dead.
Jerry looked at his own mess. Brave Scotty MacPheel was gone; so
was Henry Brewer—he had been shot down yesterday. Corporal Finerty
bore an honorable wound; Fifer O’Toole’s head was bandaged—a
musket ball had scraped it.
In taking Chapultepec and the city ten officers and one hundred and
twenty rank and file had been killed; sixty-eight officers and six hundred
and thirty-five rank and file had been wounded; twenty-nine men were
missing; total, eight hundred and sixty-two, of whom almost a tenth were
officers. The loss to the army since it had marched out of Puebla was
three hundred and eighty-three officers, two thousand, three hundred and
twenty rank and file. Subtracting the garrisons and rear guards, Old Fuss
and Feathers had marched into Mexico City with less than six thousand
out of his ten thousand with which he had left Puebla six weeks before.
And according to estimates, in the same time the Mexicans had lost
more than seven thousand killed and wounded, thirty-seven hundred
prisoners including thirteen generals, some twenty flags, one hundred
and thirty-two pieces of artillery, and twenty thousand small arms.
So here the “gringo” army was.
Instead of permitting his men to pillage the city, General Scott levied a
money contribution upon it of one hundred and fifty thousand dollars, for
the support of the troops. Adjutant Mackall read to the First Division,
paraded to listen, the following orders:
H A ,
Mexico, Sept. 14, 1847.
G O N . 284.
1. Under the favor of God, the valor of this army, after many glorious
victories, has hoisted the colors of our country in the capital of Mexico
and on the palace of the Government.
2. But the war is not ended. The Mexican army and Government have
fled, only to watch an opportunity to return upon us in vengeance. We
must, then, be upon our guard. Companies and regiments will be kept
together and all stand on the alert. Our safety is in military discipline.
3. Let there be no drunkenness, no disorders, and no straggling.
Stragglers will be in great danger of assassination, and marauders shall
be punished by court-martial.
4. All the rules so honorably observed by this glorious army in Puebla
must be observed here. The honor of the army and the honor of our
country call for the best behavior on the part of all. The valiant must, to
win the approbation of God and our country, be sober, orderly, and
merciful. My noble brethren in arms will not be deaf to this hasty appeal
from their general and friend.
5. Major-General Quitman is appointed the civil and military
Governor of Mexico.
By command of
M -G S .
H. L. S ,
Act’g Ass’t Adj. Gen.
“Well, boy,” said Hannibal, when he and Jerry got together after
dismissal, “you heard those orders. Maybe the war’s not ended for
General Scott, but it’s ended for me. I want to rest up.”
“It’s ended for Pompey, too, all right,” Jerry added. “He’s still crying
about Lieutenant Smith. Says he’s lost his ‘offercer,’ and he wants to go
home.”
“Yes,” Hannibal mused. “And the war’s been ended for Lieutenant
Smith and a lot of good men before him. That’s the way. War costs.”
Transcriber’s Notes:
Except for the frontispiece, illustrations have been moved to follow the text that they
illustrate, so the page number of the illustration may not match the page number in the
Illustrations.
Obvious printer’s, punctuation and spelling inaccuracies were silently corrected.
Archaic and variable spelling has been preserved.
Variations in hyphenation and compound words have been preserved.
*** END OF THE PROJECT GUTENBERG EBOOK INTO MEXICO
WITH GENERAL SCOTT ***
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