The Economic History in America
HIS204 American History
November 4, 2013
Economic History 2 Today’s American economy traces its roots back to the 18th century. It has had a great impact on the history of America. The rise and fall of the economy has affected many aspects of our cultures and also the financial aspects of the American life as well. It placed class among the American population, generated new businesses, and helped to move the nation forward from a technological viewpoint. In this paper, I will be able to justify a number of the economic changes that have occurred in American history and the way the economy was directly stricken by those changes. During the time frame of 1865 - 1876, our nation went through a time of Presidential reconstruction. It was enforced to assist the American folks, as well as ex-slaves, to reach the economic world. President Abraham Lincoln looked at reconstruction as his responsibility during this time era. He created governments that were reconstructed in many southern states throughout the time of the war. He also experimented with giving land to the ex-slaves of America. Although this act gave the impression that it would be a step within the right direction for our country, with reference to abolishing slavery, there have also been several problems that were overshadowed by the incentives of his ten percent set up.
Another event that had a great impact on the history of America was the reconstruction of the Roaring Twenties. Following the war, the South lay in economic shambles, and therefore the “aristocracy” that was supported by the slaves was dissolved as plantations were divided. Sharecropping became the first sort of southern agriculture, notably among the recently freed slaves. Those that were freed by the Emancipation Proclamation of 1863 were affected most by the chaos of the southern economy. The ambitions of Reconstruction to improve conditions also caused a divisive era of segregation. By the time of the Civil War, a third of the national economy was already powered by manufacturing. Most of this took place in the North. Economic History 3 Following the war, America's economy was driven by innovation and invention that led to tremendous growth of the industrial infrastructure. In short, speedy development an abundant of it is a result of advances that were made in production. Individual commerce also became the backbone of the United States’ economy. The time of the Roaring Twenties was not without the Economic Recessions. Depressions of 1873 and 1893 were really in most cases caused by unreserved developments and monetary over-speculation, as is true of even the foremost recent recessions in America. These panics did however devastate small businesses and increase unemployment rates significantly.
In the United States economic history, the first twentieth century remains important for major advancements in technology today. The steam and water powered economy received a jolt by the unfolding of contemporary electricity. Therefore, the invention of the automobile come late into WWI, the United States was set to change its business and large amounts of raw materials to period production. America mobilized not solely many troopers, however the economy to support their desires uprooted. As throughout the…