What were economic issues during the civil war?

Answer 1

One major economic issue that arose during the Civil War was the alliances that were being built among the American territories. These alliances allowed some territories to purchase goods at a lower cost than other territories were expected to pay. This occurrence led to many animosities among the states of the Union.

Answer 2

In the North, a major boom, as the factories and farms were required to provide all manner of war supplies, and skilled immigrants continued to arrive from Europe.

In the South, stagnation, with the Union naval blockade starving them of imports, and the Confederate dollar increasingly worthless.

Answer 3

During the civil war industry started to build up in the north , while the south only had agriculture to rely on. The north, coincedentally also had more farmland than the south previding them with resources. The south lived off of the support they were getting from th brittish. To sum it all up , pretty much the north's economy was booming while the south's wasnt .

Answer 4

The southern ruling class had an interest in upholding the institution of slavery, since it provided them with an extremely cheap labor force.

The northern ruling class wanted its capitalist system of banks and factories to take over the southern economy; remember that one of the few ways for a capitalist economy to avoid recession is to open new markets and appropriate new resources. They also felt that capitalism would more quickly and efficiently generate wealth for themselves, both because capitalist wage-labor can be exploited more efficiently than can chattel slave labor, and also because a union victory would drive the southern planting class out of power.

In the end, things became more complicated. But one dynamic is clear: plantation land was parceled out to poor black and white farmers after the war. The farms were too small to be productive, farmers took out loans and mortgages from northern banks and then defaulted on these loans, and despite the best efforts of the populist movement, the farms were eaten up by northern "carpet-baggers". The Civil War, therefore, had the intended economic effect of transferring southern wealth from southern planter aristocrats to northern bourgeois.

Note that the civil war also saw the birth of American corporations and the 14th Amendment granted corporations constitutional rights equal to an individual citizen's. Some northern capitalists may have had this end in mind too, as well as the inevitable wartime boost in production.

The website to which this is a link may not have the same analysis that I have, but it does include southern secession statements that quite frankly (especially in SC's case) state the southern aristocracy's assertion of its right to own slaves. The northern justifications, wrapped up as they are in arguments for federal primacy and abolitionism, are less obvious.

Answer 5

the value of southern money went down for an exsample things that cost 2 dollars in the north cost 20 in the south