The Civil War cost more than any other war the country had fought before it. Because of this, the North and the South had to find ways to raise money. The economy in each part of the country was affected in different ways. The South had a harder time than the North.
There weren't a lot of factories in the South. The people in the South were using cotton to get what they needed. The South would sell cotton to other parts of the country. It would then buy what it needed.
The South's economy was built on the labor of slaves. African Americans were forced to work the farms and plantations where cotton was grown. Without their hard work, much of the cotton would be left to rot in the fields. There wouldn't be enough people to harvest it.
The war hurt the cotton trade. The North set up a blockade in the waters off the coast of Southern ports. This blockade was able to keep many ships from leaving. The South had a hard time getting their cotton to other countries to sell.
The Wilson administration organized the wartime economy by establishing a series of centralized planning boards. Woodrow Wilson was the 28th President of the United States.
cost plus
it increased wages
Because of the Civil War in the North, income tax was invented.
It was deliberate wrecking of the farms and the railroads, to ruin the Southern economy and starve the Confederate armies in the field. It was carried out in the Shenandoah Valley by Sheridan, and in Georgia and South Carolina by Sherman.
the north & south found plenty of ways to raise money.
of plantation
The OPA set wages and controlled inflation to help manage the wartime economy.
The OPA set wages and controlled inflation to help manage the wartime economy.
Buying weapons, this put the U.S. into a wartime economy.
Wartime industrial production helped the American economy recover from the depression by giving many millions of Americans jobs.
The Wilson administration organized the wartime economy by establishing a series of centralized planning boards. Woodrow Wilson was the 28th President of the United States.
cost plus
Some key factors in creating a strong wartime economy were increasing the labor force. Creating government contracts and creating new technologies.
The WPB
what was the role of the factor in the southern economy
What was one of the most important differences between the northern economy and the southern economy? The northern economy was industrially based. The Southern economy was agriculturally based.