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America 1789 -1900

Question

How did the south lose income in 1861?

1 year ago

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Ebony


1 Answer

Lawrence M Profile Picture
Lawrence M Verified Sherpa Tutor ✓

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Hello Ebony! Post Civil War, slavery became abolished and in the process this destroyed the southern banking system and eliminated a major part of the Souths antebellum capital stock as a result of the loss of the majority of its labour workers. The sudden disappearance of both capital and labor meant that the agricultural economy of the South had to be completely restructured.

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