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How did the northern and southern states make money in history?
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What was the basis of the wealth in the northern states during the US Civil War?
The northern states, or the Union, had manufacturing industries and was quickly becoming industrialized. The Union also had strong banking institutions which controlled most of the nation's wealth. Capitalists provided the money needed to invest in assests such as railroads, ship building, and factories (and even provided the capital the southern plantations needed for their spring planting). Real estate in the northern states was also worth more than land in the southern states.
What was wealth based on the northern states?
The money and goods a person owned.
Why was the south dependent on the north?
North and South were heavily dependent on each other during the years before the Civil War. The South produced materials (especially tobacco and cotton) which were America's chief export goods. The southern states exported around 80% of the goods that brought cash into the American economy. However, there was a price for all that wealth. The southern states did not develop a strong manufacturing economy. Most manufactured goods were made in the northern states or in Britain or France. The southern states imported tools, supplies, implements, shoes, clothing. A more controversial portion of the picture is the money. Most southern plantations were heavily in debt. Despite exporting huge quantities of cash crops, plantations were not all that profitable. Slaves cost a great deal of money. Slaves had to be housed, fed, clothed, supervised, and guarded all year long even if the growing season was only 6 months. The south's cash crops also consumed the nutrients in the soil and before the mass production of chemical fertilizers this meant farming on ever larger pieces of land, and all that land cost money. Southern plantation owners borrowed heavily from northern banks in New York and Boston (and England, also). They lived a lavish lifestyle on borrowed money, and they depended on the north to supply it.
Why was the North dependent on the South economically?
North and South were heavily dependent on each other during the years before the Civil War. The South produced materials (especially tobacco and cotton) which were America's chief export goods. The southern states exported around 80% of the goods that brought cash into the American economy. However, there was a price for all that wealth. The southern states did not develop a strong manufacturing economy. Most manufactured goods were made in the northern states or in Britain or France. The southern states imported tools, supplies, implements, shoes, clothing. A more controversial portion of the picture is the money. Most southern plantations were heavily in debt. Despite exporting huge quantities of cash crops, plantations were not all that profitable. Slaves cost a great deal of money. Slaves had to be housed, fed, clothed, supervised, and guarded all year long even if the growing season was only 6 months. The south's cash crops also consumed the nutrients in the soil and before the mass production of chemical fertilizers this meant farming on ever larger pieces of land, and all that land cost money. Southern plantation owners borrowed heavily from northern banks in New York and Boston (and England, also). They lived a lavish lifestyle on borrowed money, and they depended on the north to supply it.
Why did Southern states secede from the Union in 1861?
Southern states seceded from the Union due to several reasons, 1) being the industrial revolution was creating large profits for the northern states while cotton price's were regulated by the federal government, 'Commerce Clause', which were kept at the same basic price per lb even with the industrial revolution making the demand for cotton much higher. 2) Britain was offering backing in the form of money to the south in an effort to divide the United States which would weaken the country 3) finally the election of Abraham Lincoln to president. President Lincoln was pro abolitionism (against slavery) and pro industry. The southern states disagreed with his belief's and with Britain talking up succession, which is a Constitutional right of the states. The Southern States, mostly slave states seceded. Note. President Lincoln went against the Constitution and refused secession based on the thought that the division of the States would destroy the 'Great Experiment' (Union of the States).
Why did the southern states secede the union?
because the constitution enabled the northern states to control all money in the country. it kept the northern states in power f mney and the southern states nd kept them poor
Why did people think slavery was dying in 1790?
The Northern states abolished slavery. The Southern states had too much money invested in slaves already to go that far. Hope I helped! :)
What was the basis of the wealth in the northern states during the US Civil War?
The northern states, or the Union, had manufacturing industries and was quickly becoming industrialized. The Union also had strong banking institutions which controlled most of the nation's wealth. Capitalists provided the money needed to invest in assests such as railroads, ship building, and factories (and even provided the capital the southern plantations needed for their spring planting). Real estate in the northern states was also worth more than land in the southern states.
What states make up the Mexican Cession?
After the Mexicans lost the Mexican War, These regions became American territory: (Paid money) California Texas (With Rio Grande as the border) Northern part of New Mexico Northern part of Utah (the southern part of the two states were sold to the US later.)
What was weath based on in the northern states?
money and goods a person owned
What was wealth based on the northern states?
The money and goods a person owned.
Is northern Italy's government rich?
The government of Northern Italy is not rich. Northern Italy is richer than Southern Italy because the Mafia in Southern Italy makes that part of Italy an unsafe place for businessmen to invest their money. As a result few high paying jobs are created.
What northerners packed their belongings in carpetbags?
Americans from northern states, commonly referred to as Northerners, packed carpetbags full of their belongings and left for southern states. They became known as the "carpetbaggers" among many citizens.ÊTheir post war goals concernedÊmaking money among financially impactedÊareas of the region.
Lincoln and Johnson were wise in not seeking harsh treatment of the southern states?
Yes, if they had any power in that decision, but reconstruction still struck the south harshly by northern carpetbaggers and scalawags who came to try to make money off the devasted south.
Why did southern states fear the outlaw of slavery?
The southern states feared the outlawing of slavery because the slaves were they're profitable way of gaining money.
President lincoln and johnson were wise in not seeking harsh treatment of the southern states?
Yes, if they had any power in that decision, but reconstruction still struck the south harshly by northern carpetbaggers and scalawags who came to try to make money off the devasted south.
Why is Dc the capitol?
Well at first New York City was the capital of the U.S. when there were only 13 states, then the treasury of the cabinet under President George Washington gave Washington the idea to tax each state. Since the Revolutionary War was just over, more northern states were in debt more than the Southern states. So the southern states thought the idea to tax them was unfair because the north owned more money. So to get the Southern states to pay taxes they compromised to more the capital city more south because NYC was too far so they did.
