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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 ]
During the Civil War, the Radical Republican leaders argued that slavery and the Slave Power had to be permanently destroyed. Moderates said this could be easily accomplished as soon as the Confederate States Army surrendered and the Southern states repealed secession and accepted the Thirteenth Amendment —most of which happened by December 1865.
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 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.
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.
New South, New South Democracy or New South Creed is a slogan in the history of the American South first used after the American Civil War.Reformers used it to call for a modernization of society and attitudes, to integrate more fully with the United States as a whole, reject the economy and traditions of the Old South, and the slavery-based plantation system of the prewar period.
After three short chapters profiling the black worker, the white worker, and the planter, Du Bois argues in the fourth chapter that the decision gradually taken by slaves on the Southern plantations to stop working during the war was an example of a potential general strike force of four million slaves the Southern elite had not reckoned with.
The Industrial Revolution altered the U.S. economy and set the stage for the United States to dominate technological change and growth in the Second Industrial Revolution and the Gilded Age. [28] The Industrial Revolution also saw a decrease in labor shortages which had characterized the U.S. economy through its early years. [29]