Nations Of Nations

Between the mid 1840 s and the mid 1850 s the United States experienced virtuoso of the near remarkable periods of harvest in the history of the ground . Every economic indicator surged for fightd , manufacturing , grain and cotton exertion , population , railroad mileage , gold production and sales of public land . The building of the railroads stimulated commercial enterprise , and making transportation cheaper energized the nation s economy . The American ambition that Henry Clay had dreamed of arrived with a rush only as Clay was passing from the scene . Inevitably , this growth caused dislocation that was aggravated by the boom psychology that once again infected the popular mind . In 1857 at that place was a serious collapse The return of Russian chaff to the world market after the Crimean War caused grain prices to capitulation . This checked agricultural expansion , which hurt the railroads and cut mass on the demand for manufactures Unemployment increased . Frightened depositors started runs on banks most of which had to suspend specie paymentsPeople called this abrupt downturn the Panic of 1857 . heretofore the vigor of the economy was such that bad ties did not coating long . The upper Mississippi Valley suffered most , for so much new land had been opened up that supplies of nurture produce greatly exceeded demand . Elsewhere conditions improved cursorily .

The South , somewhat out of the hectic rush to make up with , was affected very little by the collapse of 1857 , for cotton prices continued high . This gave planters the false impression that their economy was immune to such violent downturns . Some began to argue that the South would be better off out of the Union . Before a new national upward swing could become headspring established the sectional crisis between North and South agitate people s confidence in the future . Then the war came and a new set of forces shaped economic developmentReferencesFishlow , A (1966 . American Railroads and the Transformation of the Ante-Bellum Economy . Cambridge : Harvard University PressRosenberg , N (1972 . Technology and American Economic Growth . New York : Harper Row...If you want to get a full essay, order it on our website: Orderessay

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