Riley Meadows

ECON 1740
04/29/2018

E-portfolio Assignment
The War of Independence kicked off a revolution that would change the way the

world thought. Splitting from a powerhouse country was ludicrous and unthinkable

at the time, not to mention terrifying for the 13 colonies. I can’t imagine how hard

it would be to come to the U.S. and figure out how to build your own homes, grow

your own crops, fight off animals, slowly figure out a form of governing

yourselves, all while doing it completely different than the only the 13 colonies

knew – the way Great Britain did it. The 13 colonies had to figure out how to

organize a way to have the essentials: shelter, food, warmth, water. Great Britain

waged war on the 13 colonies before they knew which way was up or down. It was

a miracle France helped them, or else their march for freedom would have been

futile.

After the 13 colonies figured out the essentials, they immediately had to

create a makeshift militia and fend off the British with the help of France. The 13

colonies and some help from France were a rag tag team while Great Britain was

an organized country with a trained and organized army. After the 13 Colonies

simply won the right to live on the land they inhabited in 1783, they still had to
find a way to keep progressing. Growth was very rapid and populations living in

urban places increased very rapidly up until the Civil War in 1861. Between the

War of Independence and the Civil War; the Declaration of Independence was

signed in 1776, the Articles of Confederation were signed in 1781, and finally the

United States Constitution was signed 1787 with additional amendments added

until 1992. The Civil War was a turning point in the history of the United States.

Cotton was creating abundant amounts of wealth for the entire country, but

especially the South. The cotton industry was dominated with slavery. We created

the cotton gin, along with other improvements to the cotton gin and improved

technology to increase productivity and overall cotton output. The Civil War was

between those who wanted to keep slavery, and those who wanted slavery gone

because it’s immoral. Slavery was abolished, and cotton production slowed down

while the country put the pieces back together and figured out how to run the

cotton industry without slaves. The war put the country into massive debt. After

the Civil War, all the destruction brought about inspiration for creation. Innovation

was spreading in the country like wildfire. Manufacturing and business became a

focus in the country, and the country’s entrepreneurs came out of hiding to spark

an economic growth that wouldn’t stop for many years to come. Railroad

improvements took off. Banking made successful improvements after the first few

attempts failed. After the Civil War, the government had something to work with
because the country was united, and everyone was now on the same page. The

government now had the opportunity to make improvements and new decisions on

the laws of business, economics, property, banking, and much more.

Industrialization was at it’s finest from 1860-1900. The country focused on growth

during this time. We began to work towards maximizing revenue and minimizing

costs. We figured out our system for international trade, tariffs, taxes, and overall

the country was beginning to be much more self-sufficient. The growth, business

ventures, and innovation up to year 1900 laid the foundation for the inventions to

come. By the year 1913 the world had come to recognize the entrepreneurs in the

U.S. as innovators that would change the world. We had begun to master the

economy of that time, as well as made the laws to protect and promote

entrepreneurs, innovators, and successful corporations and businesses to succeed.

The U.S. set tariffs in place to assure we reduce imports and increase exports. The

U.S. had self-sufficiency in it’s sights, and it succeeded. World War 1 took place

from 1914-1918 which cost the U.S. $32.7 billion. This explains the short

economic crash in 1920-1921. The economy bounced back quickly, but economic

growth and health only lasted a few years. The Great Depression ruined growth,

happiness, and financial stability for many people in the U.S. from 1929-1941. The

stock market crashed, consumers reduced spending, people stopped investing, and

many banks and businesses failed. There are a lot of debates about the reasons why
the Great Depression happened, but overall it was economic flaws that were a long

time coming.