113A: Reasons for industrial growth Flashcards
What was the initial reason for expansion in the US industry?
The Civil War
Why did the Civil War cause industry to grow?
It stimulated the demand for manufactured goods as the army needed guns, clothing and transport
What needed to be developed for the Civil War?
Mass production and methods of distribution
What did the war provide?
Financial infrastructure to stimulate economic growth
What was introduced during the war by the government?
Paper currency known as the United States Note
What did the introduction of the US note mean for the banking system?
It had to evolve to cope with the growing amount of money in circulation
What was introduced to ensure protection for US manufactured goods?
Tariffs were introduced to reduce competition rom other industrialised nations such as Britain
What did increased westward settlement encourage?
Further railroad development
What was the land like in the West?
Very fertile which led to the expansion of farming
From 1860 to 1880 how much did the population of the US grow?
It increased from 31.5 million in 1860 to 50 million in 1880
What did the rapid growth of population provide?
Ample source of cheap labour for economic expansion
What was a main reason for the increase in population?
Immigration
Why did many immigrate to the US?
In search of better living standards
What did the US experience a revolution in?
Transport
What did the railroads provide?
Fast and efficient means of transporting raw materials from the West to the East
