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The economic history of the American Civil War concerns the financing of the Union and Confederate war efforts from 1861 to 1865, and the economic impact of the war. The Union economy grew and prospered during the war while fielding a very large Union Army and Union Navy . [ 1 ]
The main prewar agricultural products of the Confederate States were cotton, tobacco, and sugarcane, with hogs, cattle, grain and vegetable plots. Pre-war agricultural production estimated for the Southern states is as follows (Union states in parentheses for comparison): 1.7 million horses (3.4 million), 800,000 mules (100,000), 2.7 million dairy cows (5 million), 5 million sheep (14 million ...
He implemented a 44-percent tariff during the Civil War—in part to pay for railroad subsidies and for the war effort, and to protect favored industries. [48] Tariffs remained at this level even after the war, so that the North's victory in the Civil War allowed the U.S. to remain one of the largest users of tariff protection for industry.
The Civil War has been commemorated in many capacities, ranging from the reenactment of battles to statues and memorial halls erected, films, stamps and coins with Civil War themes being issued, all of which helped to shape public memory. These commemorations occurred in greater numbers on the 100th and 150th anniversaries of the war. [308]
General William T. Sherman, who issued the orders that were the genesis of forty acres and a mule. Forty acres and a mule refers to a key part of Special Field Orders, No. 15 (series 1865), a wartime order proclaimed by Union general William Tecumseh Sherman on January 16, 1865, during the American Civil War, to allot land to some freed families, in plots of land no larger than 40 acres (16 ha ...
What was left over went to the farmer. The system ended in the 1940s as prosperity returned and many poor farmers moved permanently to cities and towns, where jobs were plentiful because of World War II. After the American Civil War, farmers in the South had little cash.
The Civil War had collapsed the Democrats' national machine and given the GOP the chance to entrench its own national machine that held for 70 years. Republicans fully took credit for winning the war and abolishing slavery, and were firmly established as the party of big business, the gold standard, and economic protectionism.
The upheaval associated with the transition from a wartime to peacetime economy contributed to a depression in 1920 and 1921. The Depression of 1920–1921 was a sharp deflationary recession in the United States, United Kingdom and other countries, beginning 14 months after the end of World War I. It lasted from January 1920 to July 1921. [1]