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Most new industries were financed by small investors- merchants, shopkeepers, and farmers. These people invested some of their money in hope of earning profits if the new businesses succeeded. Low taxes, few government regulations, and competition encouraged people to invest in new industries.

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Copied: Word-For-Word

Source: McGraw Hill

Book: The American Republic To 1877

Chapter: 10, Growth and Expansion

Page: 310-311

AKA just plain investors :)

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