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

Content: Factories began to dominate urban areas, and people flocked to the cities seeking work in new industries. Innovations in interchangeable parts, mass production and assembly lines revolutionized American industry. 4 Booms and Busts
Economies are subject to boom and bust periods, and the U.S. economy was particularly vulnerable to the business cycle in the 19th century. The relative lack of governmental influence and poorly regulated banking led to deep depressions and volatility. A monetary scheme dependent upon gold and silver to back its value caused currency to be restrictive and less able to cope with economic downturns. The economy could not be infused with money during depressions because it was tied to the gold standard. The gold standard ended in 1933 during the Great Depression of the 20th century. Economic crises occurred about every 20 years, and in particular there were severe depressions in the 1840s and 1870s .