Between 1820 and 1860 there were a few fundamental differences between the economies of the North and South. How far do you agree?

Topics: American Civil War, Slavery in the United States, Economics Pages: 3 (1033 words) Published: December 5, 2013
Between 1820 and 1860 there were a few fundamental differences between the economies of the North and South. How far do you agree? Between 1820 and 1860 there were problems in America that resulted in the civil war in 1861, the economy affected the North and South during the civil war, and some major differences helped win the civil war. However this does not mean that the economy had many fundamental differences. For example the methods of earning money were different, but overall both earned roughly the same amount of money. Firstly, the main difference was that the North relied much more on money from industry and manufacturing, as they had more connections with foreign countries, and more factories were built. In the North in 1860 there were 74,000 factories producing two thirds, of goods for America. Whereas in the South there were only 2 major factors: Textiles factory in South Carolina and an Iron works in Virginia set up in 1840. Although they had fewer factories, the Iron works was vital, as it supplied the North with weaponry during the Civil war. In 1850 the South only produced 10% of the nations manufactured output. However the South did lack the industrialisation because their agricultural methods were so effective they had no need for change. The South was also very traditional and disliked change, whereas seven out of eight immigrants had chosen to settle in the North, and they had seen new ideas in other places in Europe so were welcome to change. This is shown by the South’s labour force being reduced from 82% to 81% over 60 years, on the other hand, the North’s labour force was reduced from 68% to 40% over the 60 years. This is however not a reflection on the North rapidly reducing agriculturally, because they still relied on agriculture, and a lot of the North was still rural. Around the urban areas, the population was increasing as towns and cities were developing swiftly. As the North had smaller but still prosperous farmers known as yeomen,...
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