The classic planter with fifty or more slaves had a prosperous estate much like the fictional Tara in Gone With the Wind. Even though property values in were less than half the antebellum level, state property tax payments in the South were four times higher than before the war, despite universal Southern economy post cuvil war.
Although the loan was eventually repaid, merchants thereafter preferred to deposit their gold with private goldsmiths who issued warehouse receipts to each depositor. After Britain had officially declared its neutrality in the American war in Maythe president of the Confederacy, Jefferson Davis — a Mississippi planter, Secretary of War under U.
But they now exercised control over their personal lives, could come and go as they pleased, and determined which members of the family worked in the fields. Thus, all the wealth held in the North, to the degree people had capital after a long and expensive war, maintained its value.
The South, however, had made a pivotal miscalculation.
If all former Confederate states were admitted to the 39th Congress in December and each added member was a Democrat, the Republican majority in the Senate would drop from to to to By contrast, modern writers give far less attention to numerous political and economic aspects of the era, even though such factors are at least equally important in terms of understanding the meaning and present day implications of Reconstruction.
In the Census Bureau reported: After attempting to remove Secretary of War Edwin M. It said a citizen of the United States could not be prevented from voting because of his color.
And it said each southern state must approve an amendment to the United States Constitution that gave citizenship to blacks. The cotton might have been an invaluable resource to prime the pump of Southern recovery but instead it was plundered. Grant was reelected in in the most peaceful election of the period.
Bruce in the U.
The first extended the life of an agency Congress had created in to oversee the transition from slavery to freedom.
In truth, Southern elected representatives were among the most progressive on economic and non-racial matters. While Republicans would need at least some of the Southern states to ratify it, the March First Reconstruction Act specified that nearly all Southern states did not have lawful governments and were therefore not members of the Union.
Today, if one looks at the economies of the North and South, the consequences of the Civil War are still apparent. It was creating fabricated governments in the South, to which there was given not an untrammeled opportunity of voting Yes or No…but only the opportunity of voting Yes or being denied recognition as states…As a matter of…law the method of amending the Constitution does not lie within the legislative power of Congress…It is for Congress to choose between [a] convention and ratification, but not to create new…conditions as part of the amending process…[By] maintaining that the Southern states were not in the Union until redeemed by Congress, the Radicals were driven to the absurd conclusion that the states could not qualify as members of the Union until after they performed a function that only [Union] members can perform… 30 Since six of the readmitted Southern states voted for Grant in and only two voted for Seymour, it soon became apparent that a second amendment granting black men the vote in every state could be quickly approved.
If they harvested their crops and did not want to sell them to the North and were not able to sell it to other countries via trade ports, then they lost profits with time. The purpose of such tariffs was to restrict competition for domestic producers, almost none of which were in the South.
Many southerners believe, even today, that reconstruction was a bitter time of defeat.Cotton and the Civil War. By Eugene R. Dattel. If slavery was the corner stone of the Confederacy, cotton was its foundation. At home its social and economic institutions rested upon cotton; abroad its diplomacy centered around the well-known dependence of Europe upon an uninterrupted supply of cotton from the southern states.
The Economy of the South After the Civil War Three reasons the economy of the South was not very strong before the Civil War 1.
Profits were made because labor was unpaid. 2. limited major crops were planted: cotton, tobacco, and sugar. 3. Other industry was believed to be unneeded.
The Seven Factors of a Healthy Economy 1. Labor 2.
Natural Resources 3. While the Civil War benefited the Northern economy, it left the Southern economy in absolutely terrible condition. The South, with its agricultural economy, lost its ability to exploit slave labor. One of the key business goals of most post-civil war business leaders was: A) To stimulate innovation through increased competition.
B) To create a large consumer middle class. C) To develop a centrally planned American economy.
The Southern economy remained mostly agricultural after the Civil War, but it struggled greatly with the labor transition from slave to paid labor. Additionally, many men had left for a number of years to fight for the Confederacy, and many plantations and farms were in poor shape, unable to yield.
During the Civil War, the Southern economy was severely weakened by a blockade that the North (the Union states) placed on the Southern ports. The North sent their ships on th e Confederacy's coast lines to block their exits while also blocking any trade or imports.Download