Title: The American Economy During the 1800s | Synonym
Headings: The American Economy During the 1800s
The American Economy During the 1800s
Explore this article
1 Land and Resources
2 Government and Economy
3 Manufacturing
4 Booms and Busts

Content: The American Economy During the 1800s | Synonym
The American Economy During the 1800s
The U.S. had a volatile, yet greatly expanding economy in the 19th century due to industrialization, immigration, territorial expansion, new technological innovations and other trends. A laissez-faire approach by government and poorly regulated banking led to volatility. In 1800, the economy was small and largely agricultural based, but by the end of the 19th century, the U.S. had one of the largest industrial economies in the world. Explore this article
Land and Resources
Government and Economy
Manufacturing
Booms and Busts
1 Land and Resources
The U.S. possesses vast natural resources, and as the country expanded its territory during the 19th century, these resources played a major role in economic growth. New lands opened up new opportunities for business as settlement created new farms, towns and cities. Territorial expansion spurred immigration and provided prime agricultural land for raising surplus food, enormous forests for lumber and fuel, coal reserves for fuel and mineral reserves for smelting iron and other metals. 2 Government and Economy
The debate between Thomas Jefferson and Alexander Hamilton in the 1790s shaped how the federal government was going to intervene in the economy in the 19th century. Hamilton believed that the government should strongly involve itself in banking and economic affairs, but Jefferson advocated a lesser role in which the market should be free of governmental intrusion. Jefferson opposed the idea of a national bank, and the country was deeply divided over the idea of a central bank. Some felt a national bank was needed to help regulate the economy and mitigate the effects of depressions.