What was the Northern economy based on during the Civil War?

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The Northern Union economy was mainly an industrial one.  The rise of large factories meant that manufacturing was the most important industry in the Union states.  Banking was also important in the North.  There was immense wealth in the Southern Confederate states, but it was mainly tied to land, agriculture...

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The Northern Union economy was mainly an industrial one.  The rise of large factories meant that manufacturing was the most important industry in the Union states.  Banking was also important in the North.  There was immense wealth in the Southern Confederate states, but it was mainly tied to land, agriculture (namely cotton), and the monetary value of slaves.  When it came to waging war, the benefits of weapons manufacturing and cash flow proved to be extremely beneficial to the North.  Union states still had a great deal of agriculture, which kept people fed during the Civil War.  

The Union had a larger population than the Confederacy, and it was growing.  The Union had about double the population of the Confederacy.  They had more manpower because of this.  They had a larger workforce to keep factories running throughout the war, and they also had more men to fight against the Confederacy.  The Union Army had twice the amount of soldiers that the Confederate Army had.

 

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