Title: The Growth of the Early American Economy in the West
Headings: The Growth of the Early US Economy in the West
The Growth of the Early US Economy in the West
A Brief History
Early Americans Move West
President Andrew Jackson's Economic Influence
American 19th Century Economic Growth in the West

Content: These actions shook confidence in the nation's financial system, and business panics occurred in both 1834 and 1837. American 19th Century Economic Growth in the West
But these periodic economic dislocations did not curtail rapid U.S. economic growth during the 19th century. New inventions and capital investment led to the creation of new industries and economic growth. As transportation improved, new markets continuously opened to take advantage. The steamboat made river traffic faster and cheaper, but the development of railroads had an even greater effect, opening up vast stretches of new territory for development. Like canals and roads, railroads received large amounts of government assistance in their early building years in the form of land grants. But unlike other forms of transportation, railroads also attracted a good deal of domestic and European private investment. In these heady days, get-rich-quick schemes abounded. Financial manipulators made fortunes overnight while much more lost their entire savings. Nevertheless, a combination of vision and foreign investment, combined with the discovery of gold and a major commitment of America's public and private wealth, enabled the nation to develop a large-scale railroad system, establishing the base for the country's industrialization and expansion into the west.