What was the basis for the Northern economy before the US Civil War?

Answer 1

It was based on several major crops which were cotton, tobacco and rice. Southern cotton dominated the world markets.

There was hardly any significant industrialization. It was, for all practical purposes an economy based on agriculture. With that said, there was some industry in both Nashville and Richmond. The same was true for the shipyards in Mobile Bay, Alabama.

Answer 2

The North was much more industrialized, having many industries, such as textiles, revolve around factories. In contrast, the South was still very agricultural, having many plantations as well as small farms. The North also had many more miles of railroad track.

Answer 3

The economy of the South was based almost exclusively on agriculture, which relied largely, though not entirely, on slave labor.

The products derived largely from mono-cultures, such as cotton, tobacco, sugar cane, indigo, most of which was exported.

The southern states were proponents of free trade with a slight taxation on products imported from abroad.

The economy of the North was based primarily on industry, which had essentially hand on wage labor, rail and maritime transport and to a lesser extent on agriculture.

Northern states were in an advanced stage of industrial expansion and consequently were proponents of a federal policy of providing for protective tariffs on imports of foreign products, which often were better than the Americans ones, in order to ensure a market for their products.

Answer 4

Prior to the US Civil War, two sets of economics were at work. One was the prosperous sales of Southern cotton both to the Northern textile mills and to Great Britain. In the North, it was in the midst of the industrial revolution and new railroads and new factories were being built. The institution of slavery was a mainstay for the Southern cotton plantations and created wealth for the owners of large cotton exports.The North continued its industrialization and much of this was due to mass immigrations of Irish Catholic s who worked the New York shipping docks and in factories.

Answer 5

The US industrial revolution was gaining momentum in the years leading up to the US Civil War. As an example, the New England states had an advanced textile mill industry and was also the leading producer of iron. Iron was essential for industry, including building iron rails for the expanding railroad industry.

Answer 6

The North had an advanced and rapidly evolving industrial economy in the antebellum days and during the US Civil War. What is seldom overlooked is the fact that the North also had a booming agrarian economy as well. Wheat and wool were produced based on livestock and vast Northern farmlands. This enabled the North to enjoy a huge economic edge over the South as the Civil War unfolded.

Answer 7

It wasn't as bad as it was during war time.

Answer 8

Industry. The North had many mills, forges, and factories. Its economy was based on the production of goods.

Answer 9

Slavery and Cotton