The American Revolution And The Nation’s Economy Essay Examples

Type of paper: Essay

Topic: Economics, United States, Growth, America, England, Continent, Economic Growth, Nation

Pages: 2

Words: 550

Published: 2020/12/15

Introduction:

It is very common to every nation’s history to include its economic progress over a period of time. Consequently, this also includes the factors that affect the growth of the nation whether it’s a war or an industrial innovation. More importantly, the process of attaining such growth is the main course of this report. Additionally, this will only cover the late years of the 18th century and the early years of the 19th century.

It is not uncommon to us that the United States was once a colony of the Great Britain. Specifically, before the American Revolution there are 13 provinces that are under the sovereign power of the Great Britain. There was a growth in monetary and exportation for the colony in the first years of the 18th century.
But to bring more focus to the economic growth in the late 18th century we need to emphasize the effects of the American Revolution. Technically the American government during the revolution is not yet an official one, therefore it is expected that the policies on economic growth are not yet evident. More importantly, the Great Britain has opted to the blockage of major ports in the American continent to weaken the finances of the revolution. The American Revolution lasted from 1775 to 1783, a very long war that has caused major decline of the 13 provinces’ economy. The finances are all done in an alleged alliance with French Government. Remarkably, this has also caused a conflict to the European allies.
In 1783 when the British finally flee the continent they have also brought with them large number of merchants that are loyal to the crown. Inevitably, this has caused a weakening of the American economy. In 1787 when the American constitution was established, it has promoted economic growth and expansion of cities to the west areas of the continent.
Hamilton as the first secretary of the nation’s treasury has promoted the federal power of governing the economic status of the United States. He believes that the unified goal of the central government in giving economic growth must be prioritized. He definitely succeeded on his mission and has done debt dissolution through tariffs in imported whiskeys which are quite controversial. Moreover, he has also helped in promoting the banking sector of the government and has achieved the Congressional Authority of establishing the First Bank of the United States in year 1791. The neutralization of the war’s effect to the nation’s economy has slowly promoted stability. Merchant entrepreneurship, Bank growths as well as establishment of new cities are existent during this period, not until the quasi-war of 1798-1799 commenced. This has disrupted trades outside the continent (Douglas, 1966).
On the other hand, President Jefferson in comparison to Hamilton has sadly failed with his Embargo act of 1807. It has banned all of exportation coming from the American Continent to the European Continent just to have neutrality. However, it was a total failure with respect to economic growth. Fraud play was evident during the Quasi-war when both France and the Great Britain wouldn’t want any merchandise from the continent. Evidently, it has caused a great dissolution of economic sprout for the newly born country.
In conclusion, the nation has been filled with various economic changes all throughout its existence. Additionally, many issues regarding alliance for each country in trade has made the conflict of economy. It is also evident that technological advancement is present during the early years of the 19th century (Ross, 2009). However, when the Embargo act of 1807 was dissolved, the economy began to move again.

Work Cited:

Thomson, Ross (2009). Structures of Change in the Mechanical Age: Technological Invention in the United Sates 1790-1865. Baltimore, MD: The Johns Hopkins University Press. ISBN 978-0-8018-9141-0. |page=236
North, Douglas C. (1966). The Economic Growth of the United States 1790-1860. New York, London: W. W. Norton & Company. ISBN 978-0-393-00346-8.

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WePapers. (2020, December, 15) The American Revolution And The Nation’s Economy Essay Examples. Retrieved April 18, 2024, from https://www.wepapers.com/samples/the-american-revolution-and-the-nations-economy-essay-examples/
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"The American Revolution And The Nation’s Economy Essay Examples." WePapers, Dec 15, 2020. Accessed April 18, 2024. https://www.wepapers.com/samples/the-american-revolution-and-the-nations-economy-essay-examples/
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The American Revolution And The Nation’s Economy Essay Examples. Free Essay Examples - WePapers.com. https://www.wepapers.com/samples/the-american-revolution-and-the-nations-economy-essay-examples/. Published Dec 15, 2020. Accessed April 18, 2024.
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