Title: How did America change after the War of 1812? This essay describes the economic and political changes after the War of 1812, including the effects of the cotton gin and Sectionalism. - WriteWork
Headings: How did America change after the War of 1812? This essay describes the economic and political changes after the War of 1812, including the effects of the cotton gin and Sectionalism.
How did America change after the War of 1812? This essay describes the economic and political changes after the War of 1812, including the effects of the cotton gin and Sectionalism.
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Content: Afterwards, the country began to fall into depression as Europeans began to buy less expensive cotton from India and bumper crops. Crop prices and land prices collapsed; land values in Pennsylvania dropped from $150 an acre to $35 in four years. Unemployment increased with 50,000 people unemployed or erratically employed in New York, Philadelphia, and Baltimore. Furthermore, state banks failed, and the federal bank foreclosed mortgages on homes, farms and shops. Perhaps John Calhoun would be able to describe it best: " There has been within these two years an immense revolution of fortunes in every part of the Union; enormous numbers of persons utterly ruined; multitudes in deep distress." It is obvious that economic changes were ubiquitous during the time period after the War of 1812.