Development of Americas Economy

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As industries like oil, steel, and railroad tracks grew, the economy had to grow with it. With people like Henry Clay and the Populists reforming the American economy, this process became easier. The Populists agreed the government needed to increase the amount of money in circulation. With more money in circulation, the economy grew because people could purchase more of the products that were newly available to them. The economy also grew as the United States government would pay to maintain roads and canals. With the national bank now in place, citizens were more comfortable with trusting the banks with their money since it was regulated by the government. With more money in the national bank, more money could be borrowed to advance businesses and industries. With the economy growing so quickly, it became national rather than regional. A national economy is strong which is better for a growing nation.

The changes in the economy impacted the future of America substantially. These changes made it easier and more desirable to live and make business transactions in the United States. With the railroad significantly changing how long it took to travel and ship goods, the country wanted to expand it quickly. Because tariffs, banks, and subsidies made America more financially stable, they changed America’s future into the present we are living in right now. If the people like Henry Clay and the Populists living in the United States at this time did not make the sacrifices they had to stand up for the changes and improvements they wanted to see; we would not be as fortunate to live in such an advanced country as we do today.

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Resources:

Classic Senate Speeches. (2017, January 12). Retrieved October 20, 2017, from http://www.senate.gov/artandhistory/history/common/generic/Speeches_ClayAmericanSystem.htm

James P. Boyd. Parties, Problems, and Leaders of 1896: An Impartial Presentation of Living National Questions. [Philadelphia, Penn.]: Publishers' Union, 1896. 599-604.

Taylor, G. (2010). Manifest Destinies: America's Westward Expansion and the Road to the Civil War. Booklist, 17.

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