28 - LPK Holt HIUS 309 February 28, 2008 Midterm Exam:...

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LPK Holt HIUS 309 February 28, 2008 Midterm Exam: Tuesday, March 18 th -2 Parts: identification (25%) – names, terms, etc. (no historians) and 1 essay (why did the North win the Civil War?) The Economic Impact of the Civil War Introduction o A major watershed in American economic history – the US was converted from an agrarian economy to an industrial economy o Because the Mississippi River was closed, trade went from Iowa to Kansas, directly east rather than going south – proceeded the Civil War by at least a decade o The war produced an enormous increase in agriculture output because of the market provided by the army – led to the first real mechanization of agriculture in the Midwest, people bought reapers – began in the 1850s, not a product of the war; railroads could carry goods back and forth from the east coast, farmers could sell their goods at east coast prices because of the Crimean War (England was at war with Russia, the other major producer of corn and wheat, so the English had to get their goods from the US) o The war gave a great boost to industrial production because of the government buying supplies for the army and navy; the inflation produced by greenbacks in the North – reduced the real wages of labor, didn’t keep up with prices o The war is credited with leading to a shift to large-scale operations – government gave contracts to most efficient manufacturers – could turn out goods fast and at a lower cost o Major industrialists became tycoons after the war ended The South and Economic Growth o The Civil War had a huge negative impact on the South’s economy – huge, permanent changes o The South, at the start of the war, was heavily agrarian – cotton, tobacco, rice, and sugar; during the war, the South’s economy drastically
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changed – shift from cotton to food production; tremendous increase in mining and manufacturing; o Problems with the railroad were never really solved in the South – gaps in lines inhibiting trips; suffered deterioration and destruction o So much material went to the armies that
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This note was uploaded on 04/07/2008 for the course HIUS 309 taught by Professor Holt during the Spring '08 term at UVA.

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28 - LPK Holt HIUS 309 February 28, 2008 Midterm Exam:...

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