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The South needed money for weapons and supplies to mauntain the war effort.
the economic growth lagged behind because they had to repair damages from the war
Prior to the US Civil War, the South already was at a disadvantage regarding its economic base as compared to the economic base of the more powerful Union industrial and agricultural elements. With that said, it was during the war that several key elements caused problems for the Confederacy. One was its production of too much cotton instead of food products that could be used by the Southern armies. Also, the decline in its railway system combined with the Union blockades were also factors to be considered. The other sometimes overlooked problem was the high inflation rates in the Confederate dollar.
The statement that correctly explains economic conditions in the South during the Civil War was that they were very poor and relied heavily on agriculture. This greatly contrasted the North which was more industry oriented.
southern banks struggled to support industrial development
How did white landowners in the south reassert their economic power in the decade following the civil war?
The South needed money for weapons and supplies to mauntain the war effort.
The South was far more economically impacted by the Civil War because more of the South was destroyed by the war, and the abolition of slavery forced the South to adopt a completely new economic system.
Most advantages, economic and otherwise, favored the North
Economic growth lagged behind because they had to repair damage from the war.
the economic growth lagged behind because they had to repair damages from the war
Economic growth lagged behind because they had to repair damage from the war.
The North had the greater economic resources as it was industrialised while the South relayed on a slave and cotton economy.
The south was in economic shambles so the US government started the reconstruction.
Prior to the US Civil War, the South already was at a disadvantage regarding its economic base as compared to the economic base of the more powerful Union industrial and agricultural elements. With that said, it was during the war that several key elements caused problems for the Confederacy. One was its production of too much cotton instead of food products that could be used by the Southern armies. Also, the decline in its railway system combined with the Union blockades were also factors to be considered. The other sometimes overlooked problem was the high inflation rates in the Confederate dollar.
Economic conditions in the South were doing fine. Same can be said for the Northern States before the war. Also, the industrialization of the North was continuing at a rapid pace. Not so much of that in the South.
economic infrastructure