The North - The North's Economic Boom a. Economic Successes...

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The North’s Economic Boom a. Economic Successes of the War i. New Factories – 1. Helped by the protective tariff 2. Manufacturers and businesspeople made lots of money ii. Millionaire Class 1. War bred a millionaire class for the first time 2. Many were speculators and peculators (people who embezzled (arbitrarily took) money) iii. Yankee Scams 1. Dishonest agents sold blind horses to government purchasers 2. Manufacturers supplied shoes with cardboard soles and fast- disintegrating uniforms that were poorly made iv. Labor-Saving Machines 1. These machines allowed the North to expand economically, even though most of its manpower was being drained off to the war a. Sewing machines and machinery that could make sized clothing changed the industry forever b. Mechanical reapers released thousands of farm boys for the army and produced surpluses of grain v. Petroleum 1. Found in PA in 1859 2. Started a new industry vi. Pioneers Move West 1. Free gold nuggets and 160 acres of free land under the Homestead
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The North - The North's Economic Boom a. Economic Successes...

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