This Day in Wall Street History 1812: Madison declares war

By the summer of 1812, President James Madison had grown tired of watching America's merchant ships and sailors take a beating at the hands of the British.  The nation's maritime interests had been caught in the crossfire of the Napoleonic Wars since the early 1800s. Though France had long since begged off from interfering with U.S. economic activities, England persisted in its practice of halting U.S. ships and seizing men who were suspected of having deserted the Royal Navy. Reluctant to build up America's military forces, Madison attempted to rebuff the British through fiscally minded measures. However, neither the "Embargo Act" (1807) nor successive versions of non-intercourse legislation (1809, 1810) did much to dissuade the British from their habit of harassing American ports and ships.  And so, on this day in 1812, Madison gave the call to Congress to declare war on Great Britain. Just three days later the hawkish House voted 79-to-49 to engage England in armed conflict, by the end of the month, the United States was embroiled in the War of 1812. Source: History.com