Growth Of NYS Business
April 17, 1996
For a number of reasons, business enterprise in New
York grew by leaps and bounds between 1825 and 1860.
New York's growth between the years 1825 and 1860 can be attributed to a number
of factors. These include but cannot be limited to the construction of the Erie
Canal, the invention of the telegraph, the developed of the railroads, the
establishment of Wall Street and banking, the textile, shipping, agriculture and
newpaper industries, the development of steam power and the use of iron products.
On October 26, 1825 the Erie Canal was opened. The canal immediately became an
important commercial route connecting the East with the Ohio and Mississippi
Valleys. With tht ...
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a shrewed businessaman of sorts as he tended to produce
whatever products would leave him the greatest profit margin. The rise of the
dairy industry was by far the most significant development in the agricultural
history of the state between 1825 and 1860. Farmers discovered that cows were
their most relliable money-makers, since both the domestic and foreign market
kept demanding more dairy products (Ellis, 273). Price flucuations became
increasingly important for the farming population between 1825 and 1860. Prices
rose from the low level of the early 1820's until the middle 1830's and the
farmer's shared in the general prosperity (271). Although the rapid
industrialization and urbanization of New York had a great deal to do with the
success of agricultural markets sporadic demand from aboard as a result of the
Irish famine, the Crimean War and the repeal of the Corn Laws in England also
contributed(North, 141). During this period Ohio, Pennsylvania, New York ...
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tariff, internal improvements, the development of manufacturing,
and the promotion of superior agricultural techniques. Each politcal faction
had segments both pro and con on most of these questions, and, inall cases it
was opprtunism, the desire for profits, which was decisive in determining one's
political position on these economic issues(175). New York's economic growth can
also be attributed to the invention of the cotton gin. Cotton had become a boom
crop in the south, however, plantation owners were either too engrossed in the
production of their crops or too unschooled in business techiniques to handle
its distribution. Some just did not want to be bothered. This ...
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"Growth Of NYS Business." Essayworld.com. February 16, 2005. Accessed November 28, 2024. http://www.essayworld.com/essays/Growth-Of-NYS-Business/22377.
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