Economics

From glendalesc.com

Plantations owners in the South were no doubt happy about their economic success. They were the main suppliers of cotton, and actually accounted for over half of the cotton in the world before the Civil War. The North depended on the plantation owners’ cotton for their textile industry. In fact, one of the main buyers of their cotton was Europe, specifically Britain, which meant even more money. Not only that, their slave industry was worth $2 billion, especially with the slave trade. The South sort of had a monopoly over the production of cotton, and directly affected the North’s manufacturing industry.

The bad part for them was that cotton became the South’s economy. It now had a one-crop economy in which the South solely relied on.

 

George S.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: