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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 American Civil War (April 12, 1861 – May 26, 1865; also known by other names) was a civil war in the United States between the Union [e] ("the North") and the Confederacy ("the South"), which was formed in 1861 by states that had seceded from the Union.
Grant won favor with the Radicals after he allowed Edwin Stanton, a Radical, to be reinstated as secretary of war. As early as 1862, during the Civil War, Grant had appointed the Ohio military chaplain John Eaton to protect and gradually incorporate refugee slaves in west Tennessee and northern Mississippi into the Union war effort and pay them ...
These events are roughly divided into two periods: the first encompasses the gradual build-up over many decades of the numerous social, economic, and political issues that ultimately contributed to the war's outbreak, and the second encompasses the five-month span following the election of Abraham Lincoln as President of the United States in ...
The South remained economically devastated after the American Civil War; the region's economy became increasingly tied to commodities like food and building materials, cotton for thread and fabrics, and tobacco production, all of which suffered from low prices.
The ensuing American Civil War brought freedom to the enslaved population as well as destruction and desolation to the state's economy. In 1922, following a series of natural disasters and the arrival of the boll weevil in 1917, South Carolina could no longer rely on the cultivation of rice and cotton.