ipl-logo

Essay On The Economy After The Civil War

586 Words3 Pages

Prior to the Civil War, during the early 1800s, the economy was more self-sufficient and remained agrarian. Initially, the U.S. was a developing economy that relied on farming and workshops to get by; however, the North and the South both differed on what their economy focused on. For instance, the North had an industrial economy whereas the South had an agricultural economy. Throughout this, the rise of a national economy spurred internal improvements through manufacturing and the building of canals. In the midst of this economic development, sectional tensions widened between the North and the South. Although some may argue that agriculture and labor had a more significant impact on the economy following the Civil War, others understand that the contribution of rapid industrialization and internal improvements like railroads and trains largely impacted the economy post-civil war. …show more content…

Captains of Industry like Carnegie and Rockefeller developed large corporations that increased productivity, expansion of markets, and philanthropy. For instance, Rockefeller´s Standard Oil company symbolized trust that controlled multiple companies by eliminating competition by taking control of smaller oil companies. Not only did he achieve dominance but he also distributed a large portion of oil throughout the economy. His effectiveness increased profits and allowed him to dominate the market by monopolizing a given market. Meanwhile, Carnegie controlled all aspects of manufacturing put towards steel production. He believed that the wealthy had a moral obligation to help out those less fortunate. Carnegie´s belief promoted his philanthropic funding of libraries and numerous schools. Subsequently, industrialization significantly allowed America to become the leading industrial power in the world, thus promoting economic

Show More
Related
2102 Words | 9 Pages

Haley Farrell 8/7/14 AP U.S History Summer Assignment • Andrew Carnegie was an industrialist who influenced the enlargement of the American steel industry in the conclusion of the 19th century. In his era, he was one of the most well-known philanthropists who had also given most of his wealth to charities and foundations. Carnegie believed that those who are wealthy should distribute their riches to work towards amelioration of society and to reduce the gap between socioeconomic statuses, which he expressed in an article called “The Gospel of Wealth” in 1889. Andrew gained his fortune by investing in railroads and bridges in the 1860’s and then later became a bond salesman in which he worked to elevate American enterprise in European countries.

Read More
1016 Words | 5 Pages

In this composition, he addressed that the three ways for wealth to be distributed are give it to the family, use it for public service, or to administer it throughout the life of the possessor. (Wealth and Its Uses 31) He later goes on to explain that, “The only mode of producing lasting good by giving large sums of money is from the millionaire to give as close attention to its distribution during his life as he did to its acquisition” (Wealth and Its Uses 31). From all the uses that he listed, it is clear that he believed most strongly in giving large sums of money for the people. Carnegie used dedication and strategical thinking to build a fortune and use it to help others.

Read More
219 Words | 1 Pages

“I began to stop accumulating and begin the infinitely more serious and difficult task of wise distribution,” as said by Andrew Carnegie. The industrialist and hard-working Andrew Carnegie was a very successful businessman and philanthropist. Andrew Carnegie provided the United States economy to rise due to his steel production in the 1800’s and 1900’s. Although some may think Carnegie was a brutal businessman, Andrew Carnegie enhanced the United States due to his business investments, his philanthropy, and his educational institutions. One way Andrew Carnegie enhanced The United States is his business investments.

Read More
569 Words | 3 Pages

With this new influx of workers and business, numerous so called “Captains of Industry" were born. Men such as Andrew Carnegie and John D. Rockefeller were men who came from nothing, but made fortunes off their innovations in the steel and oil industries. While their actions greatly benefitted the American economy, their monopolistic desires earned them a sinister reputation. These captains both had a disdain for competition and would do everything in their power to eliminate or absorb any opponents in order to gain more influence.

Read More
661 Words | 3 Pages

The first main cause of the Civil War was economic differences between the Northern and Southern states. During the first few decades of the 19th century, the North had an industrial revolution that brought an economy that relied on laborers. While at the same time, the South continued to rely on slaves for their farming and the production of cotton. The Northerners did not need slaves for their economy, but the Southerners could not make any profit without cotton or slaves. In the 1860’s, the North had twice as many railroads as the South, and the South had a bigger cotton production because of their slave population (Document A).

Read More
575 Words | 3 Pages

After the Civil War, the United States had two distinct economies, which is quite significant. The Southern economy was completely damaged by the results of the Civil War. Southerners were forced to readjust their entire economy, because slaves needed to be liberated, leaving slave-owners with no workforce. Meanwhile, in the North, the need to supply Union armies with particularly daily supplies marked the start of an era of industrial development. Which giant corporations essentially emerged known as Big Business.

Read More
640 Words | 3 Pages

Carnegie “had distributed $350 million, but had $30 million left, which went into the Corporation’s endowment” (Carnegie Corporation of New York) to give back to communities in need. The corporation has empowered communities ever since. Communities have been empowered by “Carnegie's wealth establishing numerous colleges, schools, nonprofit organizations and associations” (Carnegie Corporation of New York) has empowered Americans tremendously. Nonetheless, America would not have taken off economically without wealthy individuals like Carnegie. To sum up, everything that has been stated so far, Andrew Carnegie used his wealth to help America in the late 1800s for the greater good.

Read More
419 Words | 2 Pages

How the Civil War Affected the USA The Civil War is considered to be the most horrific yet influential wars in American History. While the American Revolution revolved around establishing the nation, the Civil War was about deciding the fate of the blossoming nation. But determining the fate of the nation came at a huge cost; approximately 620,000 American citizens lives were tragically lost during the barbarous conflict, which is equivalent to ¼ civilians whom went into combat never returned home.

Read More
516 Words | 3 Pages

The Civil War had extremely influential turnouts on the American economy in countless different ways. In ways that both emerged and caused great setback to the economy in both Northern and Southern regions of America that influenced many new innovations to succeed. The aftermath of the Civil War had major consequences throughout the periods of 1865 and 1880, mainly on industrialization and transportation, although those are the only economic implications occurring, the war also had negative outcomes for labor work regarding the Civil War. After the Civil War established in 1861-1865 industrialization began to emerge and helped the United States become more self-sustainable. Creations of new factories increased and industries like steel manufacturing, petroleum refining, and electric powering all expanded after the war, helping them increase into a more “modern economy.”

Read More
1366 Words | 6 Pages

The United States of America is a big, powerful and wealthy country in the world. The division of class, individuality, religion, and race are but a few of the embellishments within the society. The blend of these numerous diversities is the crucial ingredient to the modern nation. America has been formed upon them, with that said the “average American”- have a single means in common; a single concept; a single goal; the American Dream. The Dream consists of a seemingly simple theory; success.

Read More
463 Words | 2 Pages

Furthermore, a business leader who increased productivity, expanded markets, provided more jobs, or showed acts of philanthropy were considered captains of industry. One example is John D. Rockefeller who combined his many oil corporations that he already owned into the Standard Oil Trust. Creating the Standard Oil Trust made Rockefeller’s products cheaper for the public, it provided many jobs to workmen and it “paid the best wages,” according to Document 2. While pursuing the gain of wealth, Rockefeller positively helped the country grow. Another example of a captain of industry was Andrew Carnegie.

Read More
606 Words | 3 Pages

The economically flourishing South transformed into an economically struggling area, while the North suffered as a result of the collapse of the banks. The Civil War and Reconstruction brought about many economic struggles to the United States and transformed the status of the South. The Civil War indisputably transformed the United States politically, socially, and economically. The 13th, 14th, and 15th Amendments sparked most of these changes in addition to the reunification of the Confederate states.

Read More
720 Words | 3 Pages

The economic impact of the war as is true in most if not all cases of war are that the spoils of war are the reward of the victors. The South was already in a weaker position in the industrial strength of its geographical coalition that it was amazing that they were as close to actually succeeding in their mission. They lacked the ability to replenish their troops with guns and ammunition and in many cases had to gather this gear from failed Confederate and Union soldiers. While in the north with a large population and a more sustained economy they were to accomplish the

Read More
837 Words | 4 Pages

Notably, economic causes were major predicaments during the American civil war. These were the grounds of the civil war that affected the two regions in many ways. Within time, economic variations developed vastly between the two parts of the two regions. The Southern states depended much on farming than in industrialization. After the invention of the Cotton Gin, there as a greater necessity for persons and property, thus this made cotton the chief year’s produce of the South.

Read More
955 Words | 4 Pages

Industrialization after the Civil War One of the most remarkable consequences of the Civil war was the industrialization of the United States, which transformed the economy of the country. While certain industries, such as textiles and clock making saw industrialization during the first half of the nineteenth century, it was not until the Civil War that industrialization spread throughout America. The Civil War spurred the process of industrialization and encourages new production techniques that would have the greatest impact after the end of the war. Some of the significant reasons for the delay of industrialization of America after the Civil War were social, economic, political, geographic and legal reasons. The industrialization affected various groups of the society belonging to distinct races and ethnic backgrounds.

Read More

More about Essay On The Economy After The Civil War

Related Topics

Open Document