preview

Economic Disadvantages Of The Antebellum Era

Decent Essays

The antebellum era (also referred to as the plantation era) between 1800’s to 1860 was a period of slave driven farming, marking the economic growth of the south. During this period in 1815, cotton was the most valuable traded produce in the United States and by 1840, it was more valuable compared to all other imported and exported goods combined. In 1860, one year before the Civil War, the South was predominantly reliant on the sale of agricultural products, such as tobacco, rice, sugar, and cotton estimated at 5,344,000 bales, to a worldwide market. while the southern states generated two-thirds of the world's cotton supply, the South had little industrial capability (manufactured good estimated to the value of$156,000,000), consisting of an estimated 29 percent of the railroad tracks or 14484.1km, and only 13 percent of the nation's banks. The South attempted slave labour in manufacturing, but were mainly content with their agricultural economy. Their delay in industrial expansion was not the result of any integral economic disadvantages, there was a vast amount of wealth in the South, but it was mainly bound to slave labour. In 1860, the financial value of slaves in the United States surpassed the participated value of all of the land's railroads, factories, and banks combined. the day before the Civil War, the value of cotton was at its peak, the Confederate aristocrats were confident that the significance of cotton on the world market, especially in England and France,

Get Access