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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 ]
This period of rapid economic growth and soaring prosperity in the Northern United States and the Western United States saw the U.S. become the world's dominant economic, industrial, and agricultural power. The average annual income (after inflation) of non-farm workers grew by 75% from 1865 to 1900, and then grew another 33% by 1918.
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 ...
The American Civil War (1861–1865) was partly triggered by the tariff question. Southern agricultural states opposed any form of protection, while northern industrial states wanted to maintain protection. The fledgling Republican Party led by Abraham Lincoln, who called himself a "Henry Clay tariff Whig", strongly opposed free trade. Early in ...
The United States occasionally experienced periods of recession during the Reconstruction Era. Production increased in the years following the Civil War, but the country still had financial difficulties. [19] The post-war period coincided with a period of some international financial instability. 1869–1870 recession June 1869 – December 1870
Roosevelt ushered the nation through World War II and developed the slate of New Deal programs that boosted economic growth and recovery from the Great Depression. #32. Harry S. Truman. Top Rank ...
The Reconstruction era was a period in United States history and Southern United States history that followed the American Civil War (April 12, 1861 - April 9, 1865) and was dominated by the legal, social, and political challenges of the abolition of slavery and the reintegration of the eleven former Confederate States into the United States.
The Awakening in numerous cities in 1858 was interrupted by the American Civil War. In the South, on the other hand, the Civil War stimulated revivals and strengthened the Baptists, especially. [195] After the war, Dwight L. Moody made revivalism the centerpiece of his activities in Chicago by founding the Moody Bible Institute.