What role did the northern capital play in the development of the New South?
How did the rise of industry affect the lives of rural Southerners? Analyze these changes from the point of view of African Americans.
3 Answers | Add Yours
I'm assuming that you're talking about the time after Reconstruction here.
During this time, the great majority of money invested in Southern industry came from the North. This is not surprising given how much more industrial the North had been and how it had not been devastated by the war.
In a lot of ways, the attempt to industrialized didn't change the lives of rural people. In 1900, two-thirds of all Southerners lived by farming, just as they had in 1870 (Henretta 2000, p. 555).
For the most part, African-Americans were (when employed in industry) kept to the more menial and low-paying jobs. Industrialization wouldn't really help them until they moved North during and after WWI.
Message me if you have more questions about what I've said here.
The southern economy was held back by dependence on northern finance capital, continued reliance on cotton production, and the legacy of slavery. Northern investors secured large concessions from southern state legislatures, including land, forest, and mineral rights and large tax exemptions. The railroad came down from the north and built up in the South. This brought the cattle industry to the South along with many other uindustries as cotton was no longer "king". Unlike the North and the West, there were hardly any unions in the South. Wages throughout the South were low for both whites and blacks. As industry expanded throughout the South so did child labor.
We’ve answered 319,186 questions. We can answer yours, too.Ask a question