ipl-logo

The Industrial Capitalist And Planter-Slaveholding System During The Civil War

797 Words4 Pages

Economic systems provide the framework for a society to properly allocate and distribute resources amongst itself. When multiple systems get interchanged and brought up at the same time in a country, something bad is bound to happen. For America in the 18th century, this was exactly the case. With the long standing planter-slaveholding system causing moral unrest in the country, an industrial capitalist economy quickly emerged. These two systems would divide the country, causing an eventual civil war. During the American Civil War, both the industrial capitalist and planter-slaveholding system were put under major strain, causing an infinite amount of pressure to see which would last. Throughout the Civil War, while every strength and weakness …show more content…

They had an established treasury and a source of revenue. The financial strategy that they would employ was to rely on funding the war through loans and war bonds. As European banks loaned money to the northerners, they developed a strong bond program that would stand through the war. They tried a new strategy to get bonds to become patriotic by selling them in mass. They lowered the price of the bonds and made over a billion dollars just from them alone. This financial strength over the planter-slaveholder system would give them an upper hand in the war. The north also was strong in the numbers of workers in factories they had. The industrial capitalist system was more appealing to workers, and it gave them a huge advantage of over a million workers. This would lead to almost ten times the amount of goods being produced under this system when compared to the planter-slaveholder. The main weakness of the industrial capitalist system was the publics fear of losing jobs as the wealthy would be fine under the Enrollment act. This would cause major unrest and riots to break out across the north. The precious jobs in the industrial capitalist system caused so much fright in the eyes of lower class workers. They believed that the free slaves would take all of the jobs once they were forced too enroll. The wealthy had such an upper hand that the rioters caused havoc in New York. They were based on the new fear of slaves and would result in many murders of them. It also would force the North to re-locate precious troops to take control of New York. It would come with heavy property damages from the riots as well. This showed how unequal the wealth was in the industrial capitalist

Show More
Related

  • How Did The Revolutionary War Affect The Economy

    1007 Words  | 5 Pages

    By the end of the war, the country was $160 million dollars in debt, a suffocating amount at that time. There were several foreign and domestic causes for this. Because Britain was such a powerful country at the time, many other countries wearily ceased trade with America. Things weren't much better on the homefront. Since congress could not formally impose taxes on the states to help fund the war, they had to ask.

    Read More

  • Pros And Cons Of Reconstruction

    367 Words  | 2 Pages

    Poverty hit the states hit hard. Follow the period of Reconstruction, it was hard for many citizens to find jobs. Numerous of farmers from the South lost their land, and it made finding a job nearly impossible for African Americans. Poverty would only lead to corruption in the government’s system. The money Americans were paying taxes with was no good.

    Read More

  • The Rise Of Industry During The Antebellum Period

    277 Words  | 2 Pages

    The United States was transformed into a more industrialized and urbanized society. This led to the rise of a new class of industrial capitalists who wielded significant economic and political power. The North, where the industries were more developed, had a different economy from the South,

    Read More

  • Cause And Effects Of Sharecropping During The Civil War

    508 Words  | 3 Pages

    The heard that they could make gains though the chaos and destruction of the south. The gains they sought for was through money and political and they didn’t understand the mindset of the south. The carpetbaggers who tired a shot at agriculture that the labor system wasn’t right. They began to get the same feeling as most southern in the fact that they faced high loss due to the labor system in the south. The Northern became more and more like Southern and in the fact, they wanted to inflict punishment on workers and taking of rights from freemen.

    Read More

  • How Was Conflict Or Consensus A Larger Factor In Shaping American History?

    1297 Words  | 6 Pages

    In a war of this kind, the effectiveness of political leadership, the ability to mobilize economic resources, and a society’s willingness to keep up the fight despite setbacks are as crucial to the outcome as success or failure on individual battlefields” (Foner 521). This summary of the war shows that conflict was the only factor in the Civil War. the north and south would not agree on anything, and it created a major upset. Brothers would fight against brothers, houses would be divided, and America was at a sense of loss. If it wasn’t for the brave efforts of Abraham Lincoln and the Union, the

    Read More

  • Thomas Jefferson And Slavery

    266 Words  | 2 Pages

    Thomas Jefferson believed that black slaves where inferior in both the body and mind and that they could never be deemed equal members of the American nation. He insisted that they should be freed, and then removed from the America as slavery violated the principles of the declaration of independence in which he had wrote. I believe this would have caused outrage among the rich and powerful in America during the revolutionary generation. During this time frame, the wealthier Americans labor force relied heavily on slave labor. The amount of land in the new world required large amounts of labor to be successful.

    Read More

  • Why Was The Civil War A Turning Point

    1611 Words  | 7 Pages

    Primarily the American Civil War’s most pinnacle turning point was Lincolns Emancipation Proclamation at Antietam 1962, although Gettysburg’s provides a close second, whilst minor battles such as Atlanta and Lincoln’s re-election provide substance to the cause that indeed this war was not inevitable. It is Important to note that the war did not start as a war to abolish slavery but something that developed later after the most pinnacle turning point took them on a path of no return. Throughout the essay it will determine not only that the war was not inevitable but also which turning point was most significant in the whole war. Economic impacts from the civil war on the Greens bank helped further explain the significance of each key event.

    Read More

  • Slavery Vs Reconstruction

    146 Words  | 1 Pages

    The war took a toll on the economy. The land, buildings, and modes of transportation were destroyed. In order to recuperate the land, the white landowners needed the past slaves to go back to work. With this, came a new labor relationship. Due to not having money, the blacks would receive a portion of the crops.

    Read More

  • Pros And Cons Of Industrial Growth After The Civil War

    419 Words  | 2 Pages

    The Civil War was a treacherous war, nevertheless it did bring about massive industrial growth. This growth made the nation not only stronger but also wealthier and without this growth, the U.S could not be what is today. The U.S has only prospered significantly since this industrial revolution. This tremendous growth brought about numerous advantages in addition to disadvantages to the American people at this time. First, there were lots of noticeable advantages the revolution brought.

    Read More

  • The Slave Revolt

    296 Words  | 2 Pages

    Not only was there a slave revolt going on at this time but also a conflict between the Northern and Southern states. The conflict first began when both the North and South wanted to know which model of development would bring prosperity to the United States’ economy, commercial agriculture (cash crops) or industrialization (manufactured goods)? Put into simpler terms, the debate was about which of the two factors, (agriculture or industry), would generate the most wealth. Alexander Hamilton developed a plan called the English Industrial Model, in which contained three pillars, one being the National Bank. It stated that the National Bank was to provide internal and foreign credit, in order to absorb the foreign debt of $70 million.

    Read More

  • Civil War Economic Causes

    837 Words  | 4 Pages

    After four long years, the Unions won the war which saw to it that both parties ended up as a united nation once again. The North overpowered and defeated the South due to a number of reasons as illustrate below. To begin with, the fact that the South majored in agriculture made them to be left behind in terms of industrialization, an important factor during the civil war since fabricated merchandise was highly regarded than agricultural products. The North was therefore privileged to be in a better position in production of armory since it was able to host firms that manufactured ammunitions and war locomotives. The South was poorer, since cotton was no longer making ready income and they only had a few manufacturing origins.

    Read More

  • Mississippi Flood Dbq

    1414 Words  | 6 Pages

    It brought the continuous mistreatment of African Americans once again apparent. It also devastated many states in economic and personal ways. Homes and businesses were destroyed, loved ones were lost and

    Read More

  • Economic Effects Of The American Revolution

    900 Words  | 4 Pages

    What were the economic burdens for New America after the war? From the Huntington Library Quarterly Vol. 20, No. 4, Early American History Number, the author goes over many different topics about the war and expresses different

    Read More

  • Industrial Workers In The Gilded Age

    1038 Words  | 5 Pages

    Profits for the farmers were getting smaller and smaller due to the increase in prices for the goods to be sold. These farmers believed in many different things- they believed in rules and regulations for the road (which included the fact that the government should control the railroad), lower tariffs, and that money should be based off of silver standard. For the industrial workers, their working conditions were not ideal. Each worker did not get paid nearly enough to support them and their families, even though they worked ten plus hour days, six days a week. Workers were not paid for sick days or injury.

    Read More

  • Liberal Argumentative Analysis

    568 Words  | 3 Pages

    Would they disrupt the social order? During Reconstruction these fears formed into a white-clad avatar in the shape of the KKK. Most members of the KKK were people of low economic status who shared the resources of the newly free, and just as poor, Blacks. They did not see how increased labor and income allowed for increased job opportunity. They saw a field hand position taken by a cheaper worker; they did not see the increased production of their own fields should they hire a cheap Black laborer (whose labor they could not have previously afforded as a high-priced slave).

    Read More

More about The Industrial Capitalist And Planter-Slaveholding System During The Civil War

Open Document