The Development of the American Economy to 1914

1. Eighteenth century (1701 €“ 1800) economic activity in the North Atlantic region has been characterized as triangular trade. This term may refer to several different triangles. What were the points on one such triangle? Is the term triangular trade a good description of the exchange activity that took place at this time? Why or why not?

2. Consider the following map.

Why was antebellum rail development so much more extensive in the North than in the South?
3. Why did so many people migrate from Europe to North America during the course of the displaced 19th century (~1815 €“ ~1924) ? What impacts did mass migration have on the labor markets in the United States and in Europe?

4. Did it matter that the United States didn’t have a central bank during most of the 19th and the early 20th century? Why or why not?

5. Name an industry that became concentrated (monopolized or oligopolized) late in the 19th century and explain why this occurred.