ECOS3024 Final Notes

5 Found helpful • 55 Pages • Complete Study Notes • Year: Pre-2021

Lecture specific , entire unit The Rise to Dominance of the United States of America _____ Summary: -Colonial America and the Birth of the United States -Economic Policy and Territorial Expansion -Antebellum Industrialisation -Transport and Communications: Building a National Market -Population Growth and the Role of Immigration -Postbellum Development of Agriculture -The Postbellum Industrial Powerhouse -Evolution of the Financial System -Position of the United States in the World in 1913 _____ Colonial Beginnings: -English settlements of North-East America began in the early 17C as private ventures, initially to grow tobacco as the cash crop and/or for fur trading. These colones grew with arrivals from Europe. -Earliest colonies were Virginia (1607), Massachusetts, Maryland... _____ Colonial Economic Development -The New England region colonies with poor land for agriculture but with ports well situated for trading become the major early manufacturing centres. -The middle colonies of New York, Pennsylvania, and New Jersey offered fertile land for agriculture and became the bread basket of the colonies. -It was the Southern colonies of Maryland, Virginia, and Georgie most suitable for tobacco plantation using African slaves in labour gangs. Along with North and South Carolina, these colonies became slave plantation colonies. European immigrants avoided these colonies because of lack of opportunity. _____ Growth of the American Colonies -By the eve of American War of Independence (1775-1783) the colonial population had grown to nearly two-and-half- million, probably consisting of over 400,000 black slaves. -Because of the living standards of the white population was relatively high, American colonies became a valuable foreign market for British manufacturers in the 18C as well as a means to obtain needed raw materials and re-exports (i.e. tropical products, chiefly tobacco) -Britain fought and won the “French and Indian War” (1754-62) in the Ohio Valley to ensure westward expansion of the American colonies. _____ Self-Governing Colonies and Enlightenment -An important factor in the cause of the American War of Independence (1775-1784) is that all thirteen English Colonies were self-governing with their own charter in which their was an appointed Royal Governor, assisted by his Council of advisors and with elected assemblies whose delegates were elected by whites and property. -With enlightenment these assemblies, who could propose legislation, increasingly came into conflict with their British appointed Governor’s over policies affecting the rights of their colonial citizens. _____ American War of Independence Major causes for the war: -British land policy to deny colonies (in particular, Virginia) land for settlement west of the Appalachians via ‘The Quebec Act 1774’ secured by French and Indian War. -British trade policy under the Navigation Acts constrained the colonial merchants as well as production of manufactures that could compete with British industry (e.g. prohibition against import of iron manufactures but not pig iron). This was a source of concern mainly for the New England colonies. -After the expensive ‘Seven Years’ War’ in 1763 the British imposed greater taxation (i.e. on tea, glass and paper) on the colonies to pay for their defence and effectively curb the powers of the American colonies. It was an arrogant and stupid reaction by the British authorities to colonial protests to these measures which ignited the war. _____ Birth of the United States of America, 1789 -The United States of America was officially born 4 March 1789 when Congress declared its Constitution effective.

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