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American Economic History since the Civil War - Essay Example

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American Economic History since the Civil War

Thus, the war had impacts in the industrial sector, financial and the economic history of the state. In history, the civil war destructed and disrupted the society, which was a drive towards the industrialization in the United States.
According to Ellinoff, the south had disputes that erupted which later destabilized their economy. The slaves in the south in 1805, contributed profoundly to the labor in the agricultural sector. This boosted the cotton industries as the cost on labor largely reduced and in the end improved the profits in the cotton sector. In the south slaves became an asset and due to their improved value. In addition, the economic factor that drove to the growth of the economy of the US was the land policy. The government distributed land to the slaves and other labor farms. Further, more the opening of the Erie Canal in 1823 improved the link between the Northwest and the North government. At that time, the completion of the railway line improved the transportation of goods between the South and the North the US government also improved the tariffs as the Southerners fought for the imposing duty on the imported goods. This regulated the exports and imports in the country. The banking became another political issue that improved the economy of the States (Elinoff). In the north, there were more urban markets as compared to the south.

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Summary

In American history, the civil war was a major economic history turning point. The social war created new aspects in terms of the power of government. In addition, the war created a lot of changes in the economic sector of the states and changes in the constitution. …
Author : hwehner
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