Dynamic Change In The U.S.
There was much change brought about by the Civil War, and many people and companies played very big roles throughout this enormous growth of our country. The U.S. basically erupted economically during this time, and the tremendous augmentation of railways only instigated this bursting of the economy. Not only did the U.S. have stunning economic growth and railroad production, but it was overwhelmingly influenced by many key individuals such as Gustavus Swift, Thomas Edison, Andrew Carnegie, John Davidson Rockefeller, and John Pierpont Morgan. Each of these men played exclusive roles during this extremely successful period of our country.
Ensuing the Civil War, the economic growth in ...
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and forty percent of all the livestock had been killed. In contrast, the Northern economy thrived during the war. During 1860 and 1870, the Northern wealth increased by about fifty percent, yet during the same period, Southern wealth decreased by almost sixty percent. This just shows part of the effects of the war on the economy. The war also set the South back at least a generation in industry and agriculture. Factories and farms were devastated by the invading armies. The labor system fell into chaos. Not until the 20th century did the South ever fully recover from the economic effects of the war. In contrast again, the North forged ahead with the building of a modern industrial state. As proof of the growing economy after the civil war, the nation’s population almost tripled, while farm production and the increased need of manufacturing also experienced monumental growth. The U.S. witnessed an abundant industrial revolution during this time and continually grew into the ...
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inflation, helping those who owned property and making profits, while the entrepreneurs contributed to “the immediate post-war period of speculation.” The National Bank quickly formed a sound currency, but it had an equivocal effect on the economy. Railways were encouraged by the government, both financially and verbally. Foreign competitors were hampered due to post-war tariffs, which also limited and discouraged the export of American goods.
As previously stated, railroads played an important in the growth of our nation and, especially, in the economic growth after the Civil War. There was intense public demand for a transcontinental rail connection. This demand actually began ...
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