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
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How this affected them? It affected them that their life was always miserable a lot of people lost faith and they were always afraid. Also problems they can get seriously. This happened to Harriet Tubman. There was a slave that was getting hurt and she tried to protect him.
After the Civil War many problems arose. For farmers- shipping rates, freight rates, silo prices, and interest rates all skyrocketed. Many businessmen, such as middlemen, would try to take advantage of the farmers needs to mooch more money off of them. All of these issues caused the Farmer’s Alliance to form. The farmers that were participating in the alliance were being directly affected by the rise in rates and prices.
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.
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,
This got them virtually nowhere since nearly no states had the money to help out. Since America had been a predominantly agricultural society, a farmer turning into a soldier damaged the economy even more. This left few skilled workers behind to feed said soldiers who were already lacking basic supplies and uniforms. (Shi, David E. Pg. 164) All of these things left the American economy in shambles and almost caused them to lose the war and their independence.
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.
The civil war was a bloody destructive war fought between the United States and the confederate states of America. Following the war, the United States was faced with economic consequences that largely impacted American civilization and benefitted Robber barons. Although some may say that agriculture and labor were the primary economic consequences of the civil war, I argue that it was industrialization and transportation because they both affected Americans’ quality of life and created income inequalities. The industrial revolution had a drastic impact on American society because of its rapid economic growth.
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.
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.
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.
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.
This made it harder for slaves to run away without being caught. One upside would include that it inspired people such as Frederick Douglass
Notably, economic causes were major predicaments during the American civil war. These were the grounds of the civil war that affected the two regions in many ways. Within time, economic variations developed vastly between the two parts of the two regions. The Southern states depended much on farming than in industrialization. After the invention of the Cotton Gin, there as a greater necessity for persons and property, thus this made cotton the chief year’s produce of the South.