Friday, March 13, 2020
Analyze the advantages and disadvantages of financial derivatives used by small companies and make suggestions for small companies to better take advantage of financial derivatives. The WritePass Journal
Analyze the advantages and disadvantages of financial derivatives used by small companies and make suggestions for small companies to better take advantage of financial derivatives. Introduction Analyze the advantages and disadvantages of financial derivatives used by small companies and make suggestions for small companies to better take advantage of financial derivatives. IntroductionAdvantagesDisadvantagesSuggestionConclusionReference:Related Introduction In the present-day society, with the development of globalization, small companies are struggling to survive in a severe environment. Not only do they have to compete with large companies, but also are affected by the impact of fluctuating economic climates. Under this environment, they have no choice but to seize every chance to increase profits. A feasible method is by using financial derivatives. These financial instruments, which are linked to a specific indicator, commodity or other financial instruments, can receive great rewards with only a small amount of investment. This essay first discusses four main financial derivatives: forwards, futures, options and swaps. Then analyze the pros and cons of financial derivative usage by small companies. Finally, suggestions are made for small companies to better take advantage of financial derivatives. Definition of small business â€Å"A small business is a business that is privately owned and operated, with a small number of employees and relatively low volume of sales. Small businesses are normally privately owned corporations, partnerships or sole proprietor ships. â€Å" In this article, the four main group of financial derivatives discussed are forward, futures, options and swaps. They are basically business contracts made either in the financial market or individually negotiated between parties. Forwards and Futures obligate one of the parties to buy and another to sell a specific asset at a specific price on a specific date, Options give one party the right of selling or buying, not the obligation. Meanwhile, Swaps have obligations and rights set to exchange one security for another to alternate quality of issue, or investment objectives. In the research of (Kosik and Pontiff 2004)[3], among all the categories of derivatives, foreign exchange derivatives, interest rate derivatives and commodity price derivatives are the most frequently used derivative instruments by small firms. Advantages To start with, the most noticeable advantages for small companies of using financial derivatives are in the financial area. This includes predicting a future price trend, stabilizing costs and maximizing sales profits. When the company is concerned about the derivative market, the price of futures and options and commodity price derivatives can easily help it to predict the future price trend of its raw materials. Thus wise decisions on making instant large purchases or future purchases could be made. If the predictions prove correct, unnecessary expense on raw materials can be avoided. Another way small companies could take advantages is to stabilize their purchase costs. If the company enters into a commodity price forward contract, it could possibly stabilize its purchase costs. Since engaged in these derivative contracts, the company has accepted to buy a certain commodity at a special price, thus the purchase cost is fixed in contractual format. Or it could use foreign currency forwards and options to minimize the impact of exchange rate fluctuation in the same way. (Bodnar and Marston, 1988).[4] A third area a small company could benefit from utilizing financial derivates is to maximize its profits. A foreign currency forward or option contract with its distributors, the company is able to sell its products with fixed sales income in domestic currency. As a result, no more price or exchange rate fluctuation could influence the company’s sale revenue. There are three other advantages caused by derivative instruments. These are: increasing business reputation, expanding the company to enter the finance industry, and training the management team to handle more complex finance problems. There is a further explanation that derivative instruments can increase business reputation. When a company fulfills all the obligations and duties that the derivative contract included, distributors may think it a creditable partner and shareholders may give more credi t to their invested entity as well. The second advantage is that a small company can gain opportunities to enter the high level of financial markets for its frequently participation in the derivative market. It is beneficial for the future development of the company. Through earning large quantities of short-term return, the firm’s volume could be increased and expansion into the financial markets could be realized (Gay and Nam, 1998).[5] Finally, the management team of a small enterprise could get plenty of experience in dealing with these advanced financial instruments. This could train them for better understanding of the whole economic trend, so they are better prepared for future financial work, benefiting the company in a fundamental way. Disadvantages Aside from all the possible advantages financial derivatives can bring for small companies, there are also corresponding disadvantages. Just as proper managing can cut down on material costs and maximize sales figures and profits, if used inappropriately, derivative instruments may result in huge losses or even bankruptcy for small companies. The most recognized disadvantage that financial derivatives could bring about is financial difficulty. In this situation, it is hard to professionally handle the derivatives instruments, the consequences would be terrible. One appropriate example to illustrate the huge financial losses caused by derivative use is that five to six small firms in India have engaged in a lawsuit with private-sector banks with some improper handling of the derivative product, causing ten million losses on derivative instruments.[6] In the second place, if the prediction is incorrect, a commodity price or foreign exchange future or forward contract will raise the purchase costs for small firms, for that this kind of derivatives sets the future amount due fixed whatever the future prices or exchange rate would be. In a similar situation, when arrangement is improper, interest rate derivatives will cause fund costs to rise. That is because the interest rate derivatives have set a limit to the funding costs. As a consequence, when the interest rate descends, funding costs are increased, leading to financial trouble for the small enterprise. There have some other disadvantages come in other area except for finance. When company failure on derivative markets, shareholders, creditors and other relevant parties tend to be lose their confidence in the company’s performance, therefore, it will face a much worse financial position. Shareholders may start to sell their stocks, and creditors may ask for early repayment of credit. Under these circumstances, the reputation of company may be seriously damaged. Another drawback is the management team of the company may feel frustrated about their poor operation on derivative instruments, thus losing morale for attempting another innovative financial instrument, which could possibly put the enterprise into a more difficult situation. Suggestion After analyzing the advantages and disadvantages of derivative instruments which are used for small enterprises, some suggestions for making full use of these instruments can be made. Taking two fundamental factors into consideration, they are the size of firm and the special characteristics. Forwards, futures and options are recommended for frequent use, whereas swaps should be carefully used. When investing in these financial instruments the level of risk involved the selection of the type of derivatives. Conclusion To sum up, from comparing the advantages and disadvantages of derivative investments, it clearly can be seen that certain type of derivatives, such as forwards and futures, when used properly can bring visible benefits for small firms. On the other hand, when inappropriately used, derivative instrument may result in huge losses and even bankruptcy. Thus, the conclusion is that small companies can take many advantages of financial derivatives as long as they pay sufficient attention to their investments.  Reference: 1. The International Monetary Fund.(2008) Financial Derivatives. Available from: imf.org/external/np/sta/fd/index.htm [Accessed on September 09, 2010] 2. Small business .Available from:http://en.wikipedia.org/wiki/Small_business [Accessed on September 09,2010] 3. Koski, J. and Pontiff, J. (2004).Wiley Interscience. How are derivatives used.Availablefrom:http://www3.interscience.wiley.com/journal/119065624/abstract?CRETRY=1SRETRY=0. [Accessed on September 10, 2010] 4. Bodnar, G. and Marston, R. (1998). The Wireless Center for International Financial Research.1998 Survey of financial risk management by U.S. non-financial firms. Available from: http://finance.wharton.upenn.edu/weiss/survey98.pdf  [Accessed on September 09,2010] 5.Gay, G. and Nam, J. (1998). The underinvestment problem and corporate derivatives use. Financial Management 27(4):53-55 6. Reuters India. India Axis Bk: clients’ notional derivative loss $169mln. http://uk.reuters.com/article/rbssFinancialServicesAndRealEstateNews/idUKBOM14592320080421.[Accessed on September 09, 2010] 7. Pennings, J. and Garcia, P. (2004). Hedging behavior in small and medium-sized enterprises: The role of unobserved heterogeneity. Journal of Banking Finance 28: 951-978.
Tuesday, February 25, 2020
How far has the EU been effective as an international actor Essay
How far has the EU been effective as an international actor - Essay Example The EU has been described by others to be using a conventional wisdom to deal (Diez 2005, p.613) with matters of international relations, which has always been under the criticism of most scholars and academics a like. This has called for a lot of scrutiny in the manner in which the EU is dealing with its foes and friends because other countries are critically matching every move taken by it especially on matters relating to security and development (Leonard 2005, p.156) of the third world countries and the middle east. Trade Policy The EU often applies a unique role in ways in which they handle both domestic and international issue and this make them extra ordinary. Sometimes they resemble the United States by collaborating to implement certain policies while sometimes they just affect them solely without a third persons consent. The institutional structure of the EU is so unique among other member institutions and this gives is an additional advantage in the way they operate in the ir since time immemorial. Their democratic governance is way beyond other players in the global scene and this gives them a lot of respect as far as international diplomacy is concerned especially to authoritarian states found in the Middle East (Smith 2003, p.189). The EU provided an intergovernmental structure to enhance its smooth cooperation between the member countries in order to achieve their aims and goals with smooth operations. The difference in state borders has not hindered the EU from executing its mandate in the neighbouring and other states, which have always come under their influence. The collapse of the Soviet Union place the EU under scrutiny due to their role in that issue which most of the observers believe to have been enormous. The EU is argued to be supporting many supernatural organizations and multinational companies, which they mostly use as a disguise in their attempt to exert their influence in certain regions for their own selfish benefits. These bodies have proven to be effective players in the game of international corporations due to the success witnesses out of their involvement in some of the issues, which EU has interest (Smith 2007, p.225). The international policy environment has seen a guide facelift from the EU, which is often in most cases associated with its decision-making procedure and outcomes. Therefore, the EU has proven that they are the Centre of authority with ability to exercise vast control over other states behaviour in matters of political, economic and cultural environment. The effectiveness of EU is seen in how it align itself in the discourse about the world politics which they have always proven over time to have a great influence in. sometimes the EU stands divided on the direction it should take concerning very sensitive security issues where stakes are always very high. This was evident in the war with Iraq when some EU countries supported to support the war waged by the U.S in Iraq while other were reluctant to do so. Such tricky situations have always put the EU on the spotlight with other questioning its legitimacy and the motives of deciding the direction of the global politics. The EU is characterized by using of soft power in the form of incentives and
Sunday, February 9, 2020
How To Survive A Plague Movie Review Example | Topics and Well Written Essays - 750 words
How To Survive A Plague - Movie Review Example This paper is a review of the film â€Å"How to Survive a Plague†. It is majorly about a group of activists and the founders of the Act-up organization. This follows a struggle for recognition by the U.S.A government and health organizations in the provision and the development of advanced VIV/AIDS remedies. The political aspect of this documentary is the level of ignorance portrayed by President Ronald Reagan in support of the epidemic activism. In addition, Senator Jesse Helm pointed out to the victims that, â€Å"They asked for it†. Research through interviews and film demonstrations by the members of the Act-up group identified the spread of the plague to have been hastened by homosexuality and GLBT lifestyle. The politics against the Act-up activism was further reflected by the refusal of health organizations to treat AIDS patients and further refusal by the funeral homes to bury those that died of AIDS or related complications. The increasing death troll inspired the mobilization of the GLBT group in 1987 to influence the public perception about HIV/AIDS. This aimed at the arrival of a probable cure or effective preventive measures that would curb the number of deaths from the plague. The controversy within the GLBT and the intensive overview of the organization disagreements on how the campaigns should be carried out sets How to Survive a Plague a unique documentary in comparison to the other HIV/AIDS films. The differing opinions within the GLBT organization were whether the fighting meant the literal fighting while a section of the members acknowledged a campaign without undue violence.
Thursday, January 30, 2020
Private labels and their effect in the market Essay Example for Free
Private labels and their effect in the market Essay Introduction            The intense competition in retail markets has driven retailers to offer their own products that have somewhat similar quality at affordable price. The so-called â€Å"private label†becomes an attractive solution for customers that cannot afford to buy branded products.            According to global survey on private labeling, performed by AC Nielsen in 2005, they found that consumers in 38 markets continue accepting private labeling as good alternatives especially in markets where private labeling has existed for a long time. On average, in the Europe like Pacific regions, private labeling is perceived to be preferred choice by 78% of their consumers, followed by North America (77%), and Asia (51%). In terms of individual country, private labeling becomes the most preferred choices in Netherlands (91%), followed by Portugal (89%), and Germany (88%) (Shelf Impact, 2005).            The situation suggests that private labeling now becomes the savior for consumers and serious threat for branded producers. Since the private labeling has been adapted in many countries worldwide, this paper will discuss about private labeling of Welch Foods in United Arab Emirates (UAE). Company Background            Welch Foods is a well-known producer of juices, jams, and jellies made from Concord and Niagara grapes. Since the company only produces particular type of grapes that only grows in the United States and some parts of Canada, it becomes the Welch’s competitive advantages.            However, as globalization and open market policies are adopted by several countries to ensure fair competition, Welch Foods face serious threats as giant retailers start aggressively their private labeling strategy on variety of products including juice products. Private Labels and Its Impacts on market            By definition, private labeling refers to products or services that produced or manufactured by one company to offer under another company’s brands. Usually, retailers’ name appears on the packaging of the products and offer customers much lower price than other branded products.            In case of Welch Foods that face intense competition from other branded juice products and private label in the UAE, the company must deal with private labeling strategies that retailers or supermarkets performs. Therefore, in order to cope with pricing strategies that retailers perform to undermine branded products, Welch Foods have two options.            First is to form an agreement with retailers to produce store brands for the retailers. This private labeling of Welch has following benefits: It prevents competitors (juice producers) to take opportunity of private labeling with retailers/supermarkets Reduce promotion costs since it is such a joint promotion program Obtaining more shelf space in retailers’ outlets            The second option is to produce second layer products if the retailers have conducted private labeling with Welch’s competitors. By delivering second layer products, the company can match the retailers’ private label products. Case of Welch Foods in United Arab Emirate (UAE)            The fast growing of private label industry also exist in the United Arab Emirates (UAE). During the Private Label Middle East (PLME) – Dubai 2007, the number of foreign companies that are interested in entering UAE through private label strategy is increasing (AME Info, 2007).            The situation suggests that Dubai becomes one target market of private label industry. AME Info refers Dubai as the gateway to private label industry ion the Middle East in which in the exhibition there are about 100 exhibitors from more than 20 countries want to enter UAE through private labeling.            According to AC Nielsen survey, 84% of UAE consumers know at least one private label. This is much better than United Kingdom of Saudi Arabia (only 67%). Due to the intense competition in retail industry, Welch Foods must provide counter strategy to compete with already-in-market private labels.            In simple ways, Welch Foods must perform marketing plan that consist of the following activities: Identification and Choosing Market Segments      For most products, there are always a number of different markets into which the product can be sold. Furthermore, within each market there are also a number of market segments that will also need special attentions. These segments are based on age, sex, tastes and preferences, religious beliefs, demography, income, etc. The importance of identifying and choosing between these different segments lies in several requirements. First, identifying between market segments is required to tailor the product quality characteristics. Second, it is important for designing promotional efforts. Third, it is important to design distribution and sales strategies. Designing the Marketing Mix      The marketing mix design (product, place, promotion and price) is derived from the identification of market segments performed earlier. It is the answer to some of these questions: who will be our customers?, where are our customers?, what are the average income level of our intended customers?, who are our competitors?, what are their apparent strengths and weaknesses?, how will our product be better?, how will our product be distributed?, etc. Enhance Packaging and Building Brand Image      The first impression obtained by consumers about any product comes from its brand image and packaging. A simple attraction toward product label or packaging could lead to a lifetime of product loyalty. Thus, the design of a label, design of a package and the quality of materials used for packaging is a critical factor that has considerable influence in determining sales number.            (‘Marketing’. n.d; Lake, 2005) Reference: AME Info. (2007). Private label industry on growth path across the Middle East. Retrieved November 15, 2007 from http://www.ameinfo.com/135804.html Gordon, I.H. (1999). Relationship Marketing: New Strategies, Techniques, and Technologies to Win the Customers You Want and Keep Them Forever. John Wiley and Sons John Stanley About.com. (2007). Brands versus Private Labels. Retrieved November 07 from http://retailindustry.about.com/library/uc/02/uc_stanley2.htm Kotler, Philip. (2000). Marketing Management. New Jersey: Prentice Hall Lake, Laura. (2005). How To Develop a Marketing Strategy in 5 Easy Steps. Retrieved November 14, 2007 from http://marketing.about.com/cs/advertising/ht/5steps2strategy.htm SBA. (2003). Target Market. Retrieved November 14, 2007 from Available at: http://www.sba.gov/starting_business/marketing/research.html Shelf Impact. (2005). Consumers: Private label ‘good alternative’ to other brands. Retrieved November 14, 2007 from http://www.shelfimpact.com/archives/2005/09/consumers_private_label_good_a.php
Wednesday, January 22, 2020
A Comparison of Fierceness in Beowulf and in The Saga of King Hrolf Kra
Fierceness in Beowulf and in The Saga of King Hrolf Kraki      Is fierceness mentioned only in Beowulf or is it an element common also to this famous Icelandic saga? Is fierceness described the same way as in Beowulf?  The Anglo-Saxons prior to 1000AD were as a race fierce. They possessed great courage. Beowulf reflects their fierceness and courage in a variety of ways. Beowulf complains to Unferth in the Danish court: â€Å"Grendel would never have done such horrors †¦ if you were so fierce as you suppose.†The hero, who had earlier killed nine sea monsters, opted to face Grendel in mortal combat WITHOUT sword or shield or the assistance of others: â€Å"but I shall seize my enemy in my hand grip and fight.†Later when the hero’s sword failed against Grendel’s Mother, he remained â€Å"resolute†and seized her by the shoulder and fought till victory came. Thus â€Å"Beowulf, fierce in war, received the cup from Wealhtheow.†Later, the hero went up against and killed Daghrefin, the Huga champion, without weapons: â€Å"Nor was my sword his death, but my hand grasp broke his bone-house, tore out his surging heart.†After fifty years of kingship, when the fire dragon molested his people, Beowulf, the old man, did not lose his fierceness; he was â€Å"ready to die †¦ life from body parted †¦ I am brave in mind.†In the final battle brave Wiglaf showed his own fierceness and advanced to help his lord who was englulfed in flames: â€Å"With him I will embrace the fire †¦ he doesn’t deserve to suffer alone.† The Anglo-Saxons were also fierce in the sense that they delighted in slaughter. George Clark in Beowulf states regarding the epic: â€Å"Swords, shields, coats of ring-mail, helmets with sourmounted boar figures . . . all furnish the poem and are ... ... husband King Hjorvard to rebel against King Hrolf. With her magic King Hrolf was killed along with his forces. So the story ends on a sad note due to the fierceness of a diabolical queen.  In conclusion, the type of fierceness mentioned in Beowulf is common also to this famous Icelandic saga, The Saga of King Hrolf Kraki. Additionally, there are other types of fierceness in the latter associated with maiden-warriors and with the use of magic.  BIBLIOGRAPHY  Alexander, Michael, translator. The Earliest English Poems. New York: Penguin Books, 1991.  Chickering, Howell D.. Beowulf A dual-Language Edition. New York: Anchor Books, 1977.  Clark, George. Beowulf. Boston: Twayne Publishers, 1990.  The Saga of King Hrolf Kraki, translated by Jesse L. Byock. New York: Penguin Books, 1998.      Â
Tuesday, January 14, 2020
Rhetorical Devices in Night Walker by Brent Staples
Brent Staples uses vivid language and rhetorical devices to express and convey the elements of fear, anger, and violence. We all make many decisions based on past experiences. That’s how we learn to avoid touching a hot stove burner for example. It’s also about how we learn to do things that bring us pleasure. So we all develop discriminating behavior, but when that discrimination is based purely on the color on that person’s skin, or his ethnicity, without knowing anything else about that person, it becomes racism.Being a malicious looking black man, walking the streets at night may give someone the idea that you’re a rapist, killer, robber, or even a stalker. Nearly everyone has experienced these same emotions before and each has reacted similarly with varying degrees. Immediately in the first paragraph, Staples depicts a woman walking and the fear she experiences dude to stereotyping. In the story he relies on imagery and common experiences to emphasize this emotion. â€Å"She cast back a worried glace. †(paragraph. 1) That imagery perfectly conveys the emotion of fear.When you’re walking alone at night and someone â€Å"sketchy†follows you, it’s easy to draw on your past experiences and conclude you should be worried. Staples then uses sarcasm to display his disapproval of the woman’s false impression. â€Å"She picked up her pace and was soon running in earnest. Within seconds she disappeared into the street. †(paragraph. 1) Due to his ethnicity, the woman feared that she was going to be a victim of violence. His choices of words convey a negative connotation and reinforce the fear factorLiving in a small town where gang warfare, street knifings, and murders are common, these circumstances can inflict trauma and ingrain hostile emotions. â€Å"I grew up one of the good boys, had perhaps a half-dozen first fights. In retrospect, my shyness of combat has a clear source. †(paragraph . 6) Staples emphasizes that the violence experiences he witnessed as a kid were the root causes for the acute effects imprinted on his psyche. â€Å"As a boy I saw countless tough guys locked away; I have buried several, too.They were babies, really – a teenage cousin, a brother of 22, a childhood friend in his mid-20s all gone down in episodes of bravado played out in the streets. †(paragraph. 6) Staples uses personal stories of conflict and pathos to illustrate violence and the emotional/physical price it has on people and their attitudes. Being subject to racism and discrimination is demeaning and debilitating. In fact they can lead you to anger. â€Å"Relatively speaking, however, I never fared as badly as another black male journalist. †(paragraph. ) Stemming from racism is common when someone is mistreated or falsely accused of something because of their race. â€Å"Mistaking the reporter for the killer, police officers hauled him from his car at gunpoin t and but for his press credentials would probably have tried to book him. Such episodes are not uncommon. Black men trade tales like this all the time. †(paragraph. 8) Staples portrays anger using euphemism and implies that the anger sterns from stereotyping of African Americans. These real life experiences and the vivid imagery give the reader an acute awareness into the harmful effects of racism..Fear, violence, and anger brought on by racism all provide the foundation of the story â€Å"Night Walker†by Brent Staples. The author uses personal life experiences and vivid imagery to ingress upon the reader the impact of discrimination. Not only does he use rhetorical devices, he uses concrete details to create a stronger more profound effect on the reader. Being subjected to racism is demeaning and debilitating and results in a toxic environment for the person being subjected to these acts of ignorant discrimination.
Sunday, January 5, 2020
Antonio López de Santa Anna, 11-Time Mexican President
Antonio Là ³pez de Santa Anna (February 21, 1794–June 21, 1876) was a Mexican politician and military leader who was President of Mexico 11 times from 1833 to 1855. He was a disastrous president for Mexico, losing first Texas and then much of the current American West to the United States. Still, he was a charismatic leader, and, in general, the people of Mexico supported him, begging him to return to power time and again. He was by far the most important figure of his generation in Mexican history. Fast Facts: Antonio Là ³pez de Santa Anna Known For: President of Mexico 11 times, defeated U.S. troops at the Alamo, lost much Mexican territory to the U.S.Also Known As: Antonio de Padua Marà a Severino Là ³pez de Santa Anna y Pà ©rez de Lebrà ³n, Santa Anna, The man who was Mexico, Napoleon of the WestBorn: February 21, 1794 in Xalapa, Veracruz Parents: Antonio Lafey de Santa Anna and Manuela Perez de LabronDied: June 21, 1876 in Mexico City, MexicoPublished Works: The Eagle: The Autobiography of Santa AnnaAwards and Honors: Order of Charles III,  Order of GuadalupeSpouse(s): Marà a Inà ©s de la Paz Garcà a, Marà a de los Dolores de TostaChildren: Marà a de Guadalupe, Marà a del Carmen, Manuel, and Antonio Là ³pez de Santa Anna y Garcà a. Recognized illegitimate children: Paula, Marà a de la Merced, Petra, and Josà © Là ³pez de Santa AnnaNotable Quote: As general-in-chief I fulfilled my duty by issuing the necessary orders for the vigilance of our camp, as a man I succumbe d to an imperious necessity of nature for which I do not believe that a charge can be justly brought against any general, much less if such a rest is taken at the middle of the day, under a tree, and in the very camp itself. Early Life Santa Anna was born in Xalapa on February 21, 1794. His parents were Antonio Lafey de Santa Anna and Manuela Perez de Labron and he had a comfortable middle-class childhood. After some limited formal education, he worked for a short time as a merchant. He longed for a military career and his father procured an appointment for him at an early age in the Army of New Spain. Early Military Career Santa Anna quickly rose through the ranks, making colonel by the age of 26. He fought on the Spanish side in the Mexican War of Independence. When he recognized that it was a lost cause, he switched sides in 1821 with Agustà n de Iturbide, who rewarded him with a promotion to general. During the turbulent 1820s, Santa Anna supported and then turned on a succession of presidents, including Iturbide and Vicente Guerrero. He gained a reputation as a valuable if treacherous ally. First Presidency In 1829, Spain invaded, attempting to retake Mexico. Santa Anna played a key role in defeating themâ€â€his greatest (and perhaps only) military victory. Santa Anna first rose to the presidency in the 1833 election. Ever the astute politician, he immediately turned over power to Vice President Valentà n Gà ³mez Farà as and allowed him to make some reforms, including many aimed at the Catholic Church and the army. Santa Anna was waiting to see if the people would accept these reforms. When they did not, he stepped in and removed Gà ³mez Farà as from power. Texas Independence Texas, using the chaos in Mexico as a pretext, declared independence in 1836. Santa Anna himself marched on the rebellious state with a massive army, but the invasion was conducted poorly. Santa Anna ordered crops burned, prisoners shot, and livestock killed, alienating many Texans who might have supported him. After he defeated the rebels at the Battle of the Alamo, Santa Anna unwisely divided his forces, allowing Sam Houston to surprise him at the Battle of San Jacinto. Santa Anna was captured and forced to negotiate with the Mexican government for recognition of Texas independence and to sign papers saying he recognized the Republic of Texas. The Pastry War and Return to Power Santa Anna returned to Mexico in disgrace and retired to his hacienda. Soon there came another opportunity to seize the stage. In 1838, France invaded Mexico in order to make them pay some outstanding debts. This conflict is known as the Pastry War. Santa Anna rounded up some men and rushed to battle. Although he and his men were soundly defeated and he lost one of his legs in the fighting, Santa Anna was seen as a hero by the Mexican people. He would later order his leg buried with full military honors. The French took the port of Veracruz and negotiated a settlement with the Mexican government. War With the United States In the early 1840s, Santa Anna was in and out of power frequently. He was inept enough to be regularly driven out of power but charming enough to always find his way back in. In 1846, war broke out between Mexico and the United States. Santa Anna, in exile at the time, persuaded the Americans to allow him back into Mexico to negotiate a peace. Once there, he assumed command of the Mexican army and fought the invaders. American military strength (and Santa Annas tactical incompetence) carried the day and Mexico was defeated. Mexico lost much of the American West in the Treaty of Guadalupe Hidalgo, which ended the war. Final Presidency Santa Anna went into exile again but was invited back by conservatives in 1853, so he served as president for two more years. He sold some lands along the border to the United States (known as the Gadsden Purchase) in 1854 to help pay some debts. This infuriated many Mexicans, who turned on him once again. Santa Anna was driven from power for good in 1855 and went once again into exile. He was tried for treason in absentia, and all of his estates and wealth were confiscated. Schemes and Plots For the next decade or so, Santa Anna schemed at getting back into power. He attempted to hatch an invasion with mercenaries. He negotiated with the French and Emperor Maximilian in a bid to come back and join Maximilians court but was arrested and sent back into exile. During this time he lived in different countries, including the United States, Cuba, the Dominican Republic, and the Bahamas. Death Santa Anna finally was given an amnesty in 1874 and returned to Mexico. He was then about 80 years old and had given up any hope of returning to power. He died on June 21, 1876, in Mexico City. Legacy Santa Anna was a larger-than-life character and inept dictator. He was officially president six times, and unofficially five more. His personal charisma was astounding, on a par with other Latin American leaders such as Fidel Castro or Juan Domingo Perà ³n. The people of Mexico supported him multiple times, but he kept letting them down, losing wars and lining his own pockets with public funds time and again. Like all people, Santa Anna had his strengths and weaknesses. He was an able military leader in some respects. He could very quickly raise an army and have it marching, and his men seemed to never give up on him. He was a strong leader who always came when his country asked him to (and sometimes when they didnt ask him to). He was decisive and had some crafty political skills, often playing liberals and conservatives off against one another to build a compromise. But Santa Annas weaknesses tended to overwhelm his strengths. His legendary treacheries kept him always on the winning side but caused people to mistrust him. Although he could always raise an army quickly, he was a disastrous leader in battles, winning only against a Spanish force at Tampico that was ravaged by yellow fever and later at the famous Battle of the Alamo, where his casualties were three times higher than those of the outnumbered Texans. His ineptitude was a factor in the loss of vast tracts of land to the United States and many Mexicans never forgave him for it. He had serious personal defects, including a gambling problem and a legendary ego. During his final presidency, he named himself dictator for life and made people refer to him as most serene highness. He defended his status as a despotic dictator. A hundred years to come my people will not be fit for liberty, he famously said. To Santa Anna, Mexicos unwashed masses could not handle self-government and needed a firm hand in controlâ€â€preferably his. Santa Anna left a mixed legacy to Mexico. He provided a certain degree of stability during a chaotic time and despite his legendary corruption and incompetence, his dedication to Mexico (especially in his later years) is rarely questioned. Still, many modern Mexicans revile him for the loss of so much territory to the United States. Sources Brands, H.W. Lone Star Nation: The Epic Story of the Battle for Texas Independence. Anchor Books, 2004.Eisenhower, John S.D. So Far from God: The U.S. War with Mexico, 1846-1848. University of Oklahoma Press, 1989.Henderson, Timothy J. A Glorious Defeat: Mexico and its War with the United States. Hill and Wang, 2007.Herring, Hubert. A History of Latin America From the Beginnings to the Present. Alfred A. Knopf, 1962Wheelan, Joseph. Invading Mexico: Americas Continental Dream and the Mexican War, 1846-1848. Carroll and Graf, 2007.
Subscribe to:
Posts (Atom)