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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 ended in April 1865, and the country entered a lengthy period of general deflation that lasted until 1896. 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 Reconstruction era has typically been dated from the end of the American Civil War in 1865 until the withdrawal of the final remaining federal troops stationed in the Southern United States in 1877, though a few other periodization schemes have also been proposed by historians. [6]
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 conclusion of the American Civil War commenced with the articles of surrender agreement of the Army of Northern Virginia on April 9, at Appomattox Court House, by General Robert E. Lee and concluded with the surrender of the CSS Shenandoah on November 6, 1865, bringing the hostilities of the American Civil War to a close. [1]
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]