New Insights Gained from Studying

Economic History of the United States

Colonies: This was the time period where America was very prosperous and growing. It was
just a good time to live in America. It was interesting to find out that during the Revolutionary
War that only one-third of the population wanted to be free from Great Britain. The South traded
with Great Britain and was opposed to the Revolutionary War. So, why hurt your trading
partner? The North traded with India. Thus, breaking free of Great Britain would have no
economic impact for them.

Privateers: These were private individual who were allowed by the United States government to
hassle ships from other countries. Benjamin Franklin created privateers as a result of imprisoned
American sailors in Great Britain who were begging him to do something to gain their release
and freedom. He did not have enough imprisoned Great Britain citizens to affect a one-to-one
trade of prisoners. The initial plan was to attack ships in order to get captive citizens that could
be used for later trade deals. The Black Princes first attack yielded about 35 captive souls.
Captain Luke Ryan and his entire crew, who (unbeknownst to Franklin) were previous smugglers
who had escaped from jail in Great Britain, became greedy, started releasing some of the
prisoners and stealing gold and other valuables instead of capturing prisoners--resulting in a
difference of objectives between Franklin and himself.

Identification: Before the Civil War people identified themselves by their state first, then
country. After the Civil War, people identified themselves by their country first and then state.
Slavery: The United States of America was the last westernized country to formally abolish
slavery. The North was economically prosperous because it was urbanized. The South was
economically poor due to being rural by nature, with many plantations. Slaves were considered
an important asset for southerners. There was actually a line drawn across the United States
called the Mason-Dixie Line that set the boundary between the free and slave states. When
California declared their state as a free state, this upset the boundary line. Residents of Utah at
one point had slaves. It was interesting to learn that a large amount of money was expended to
ensure that slaves did not run away.

Immigrants: The United States has always been a place of immigration. The Irish came because
of the potato famine. Germans immigrants were most likely to go directly to the western part of
the United States.

Transportation: Completion of the Erie Canal affected the railroad system from soaring. People
were afraid of the high speeds of rail transportation, fearing they would be killed. Also, so much
money had been invested in the construction of the Erie Canal that the people wanted a return for
their money. The first steamboat needed a mechanic on board because the engine was
temperamental. A few engines exploded, but overall they were a faster form of water travel and
were used. As people began purchasing cars, they discovered that they also had to spend money
for a mechanic.

Indians: Thomas Jeffersons opinion on how Indians should be treated as that they should have
full property rights and be should be respected by the Whites. The Indians went through the
legal process of obtaining land, but then President Andrew Jackson assisted in passage of the
Removal Act of 1830, which gave authority to government officials to create legal contracts that
would force Native Americans to relinquish their lands.