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economic problem

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 time of travel cut to one-third and the cost of shipping freight cut to one-tenthof the previous figures, commerce via the canal soon made New York City the chief port of the Atlantic. The growing urban population and the contruction of canals, railroads and factories stimulated the demand for raw materials and food stuffs. In 1836 four-fifths of the tonnage over the Erie Canal came from western New York (North, 105). Much of this cargo was in the form of agriculture goods. The farmer become 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 and Virginia, in that order were the leading wheat growing states. Between the years 1840 and 1850 New York ranked first in the production of beef. The absence of politic party differences on issues related to the the growth of democracy existed in regard to the foremost economic questions, there was absolutely no partisan division evident in the movement to incorporate new financial institutions; rather , the primary factors , which the legislators examined, concerned value, feasibility, profit and the location within the state. Dozens of turnpike proposals, most of which werebacked by the Republicans, passed the legislature; but the Federalists cooperated, seeing the chance for profits. Prominent Federalists like John Rutherfurd, John Neilson, William Paterson, John Bayard, and James Parker invested susstanial sums in the turnpike business. There were numerous Republicans who were also vitally interested in the turnpike business (Kass, 150). Bipartisan support also accompanied plans for the construction of bridges and canals. All of the p

Some common words found in the essay are:
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Approximate Word count = 1332
Approximate Pages = 5 (250 words per page double spaced)


  

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