economy Flashcards
what was the growth of population?
- lots of cheap labour
- 31.5 million in 1860 and 50 million in 1880
what did westward expansion do?
- create market of goods
- increased railroads
how many immigrants were there in 1870?
2.8 million
how did improvements in tech like refrigerated cars cause?
- means perishable goods can be kept for longer
- makes growing
what did vanderbilt expanding the railroads do?
increase market for goods
what was the two fold effect on products because of the railroads?
- railroads create new markets
- more products able to be obtained
what was the 1873 economic depression caused by?
- economic reversal in europe and poor US banking
- jay cooke badly invest deposits which collapsed businesses and banks
- q million unemployed
how was urbanisation seen in chicago in 1870?
- take lead in meat packing and steel production
- population from 30,000 to 1 million in 1850 and 90
what did rapid rise in the economy cause?
- slums
- courrupt systems running new cities
how did the procedure of cops drop after the civil war?
- profits drops so loans not repaid
- wheat from 1.45 to 0.76 in 66 and 69
how was the southern economy trapped in history?
slavery gon but king cotton still ruled
by what date was colonisation of native land compete?
1877
why did agriculture develop?
- immigration
- rails
- government
- population growth
- tech
- natural resources
- going cities = bigger markets
how many immigrants were there in the 1880’s?
5 million
what did the homestead act and 1889 free land grab mean?
people farming on the land
- increases agriculture and markets
