Economic Challenges and Growth in Pre-Independence America

For this written assignment, please answer the following question utilizing your textbooks. Be sure to cite your sources appropriately.
I have attached the required chapters from the books that need to be cited throughout the paper.
1. What factors contributed to any circumscription of commerce for pre-independence America?
2. What were the greatest challenges to the growth and development of the early American economy and businesses?
3. What economic problems were resolved by the replacement of the Articles of Confederation with the Constitution?
4. Business and government have always had a relationship. What was the relationship between business and government at the start of the 19th century (1800)? What were the issues and challenges? How do you think this affected economic growth?
5. What were the important differences between Northern commerce and Southern commerce?

Struggling with where to start this assignment? Follow this guide to tackle your assignment easily!

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Step-by-Step Guide to Answering Your Questions:

Step 1: Review Your Textbook Chapters

• Carefully read the attached chapters to gather relevant information for each question. Make sure you note key concepts, examples, and any case studies mentioned in the chapters.
• As you review, jot down important facts, theories, and arguments that will help you answer each question comprehensively.

Step 2: Organize Your Answers

• Plan how to structure your paper by addressing each question in a logical sequence. Each answer should be clear, concise, and based on the readings from your textbooks. The structure might look like this:
  • Introduction: A brief introduction to the early American economy and its evolution.
  • Body: Detailed answers to each of the questions. Be sure to separate each question clearly.
  • Conclusion: A summary of the key points and any overall observations about the economic development of early America.

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Answering the Questions:

Question 1: What factors contributed to any circumscription of commerce for pre-independence America?

• Factors:
  • British Mercantilism: Under British rule, the American colonies were subject to a mercantile system that limited their ability to trade freely with other nations. They were required to trade primarily with Britain and were restricted by British laws such as the Navigation Acts.
  • Geography: The lack of infrastructure and transportation, like roads and canals, limited trade between regions and with international markets.
  • Political Instability: The colonies experienced political instability and lack of centralized governance, which restricted economic development.
  • Dependence on British Imports: As the colonies were primarily agricultural, they relied heavily on British manufactured goods, leading to a lack of diversification in industry.

Question 2: What were the greatest challenges to the growth and development of the early American economy and businesses?

• Challenges:
  • Lack of Capital: Early American businesses struggled with limited financial resources and lack of access to capital markets, hindering growth.
  • Inadequate Infrastructure: The lack of roads, bridges, and transportation networks made trade and distribution of goods difficult.
  • Political Fragmentation: The Articles of Confederation created a weak central government, making it hard to enforce laws and regulations that could stabilize the economy.
  • Foreign Competition: Early American businesses faced stiff competition from European powers, particularly Great Britain, which dominated global trade.
  • Labor Shortages: Early American businesses often had to rely on a limited and sometimes unskilled labor force, particularly in agriculture and manufacturing.

Question 3: What economic problems were resolved by the replacement of the Articles of Confederation with the Constitution?

• Economic Problems Resolved:
  • Currency Issues: The Articles of Confederation allowed individual states to print their own currency, which led to inflation and economic instability. The Constitution gave the federal government the power to coin money, helping standardize currency.
  • Debt Management: The Articles failed to provide a way to manage national debt. The Constitution allowed the federal government to assume the states’ war debts and establish a unified financial system.
  • Trade Barriers: Under the Articles, states imposed tariffs on goods from other states, which hindered internal trade. The Constitution granted the federal government the power to regulate interstate commerce, leading to more efficient trade.
  • Lack of Centralized Authority: The weak central government under the Articles made it difficult to enforce laws and stabilize the economy. The Constitution created a more powerful federal government capable of managing economic policy and relations with foreign countries.

Question 4: Business and government have always had a relationship. What was the relationship between business and government at the start of the 19th century (1800)? What were the issues and challenges? How do you think this affected economic growth?

• Relationship Between Business and Government:
  • The early 19th century saw an emerging relationship between business and government, with the federal government taking steps to encourage economic growth through protective tariffs and establishing a national bank (the Second Bank of the United States).
  • Issues:
    • Tariffs and Trade Policies: Protective tariffs were a point of contention between agricultural and manufacturing interests, as manufacturers wanted protection from foreign goods, while agricultural producers sought cheaper goods.
    • Banking and Currency: The establishment of the national bank led to debates over centralized versus decentralized control of money, with business interests favoring a national bank for economic stability.
    • Infrastructure: There were significant challenges in terms of building infrastructure (roads, canals, and railroads) to support business growth, and government investment was often slow.
  • Impact on Economic Growth:
    • The government’s involvement helped stimulate economic growth by providing financial support for infrastructure projects, offering protective tariffs to encourage domestic industry, and stabilizing the financial system through the creation of a central bank.
    • However, the challenges of balancing interests between different regions and sectors sometimes hindered rapid and uniform growth across the nation.

Question 5: What were the important differences between Northern commerce and Southern commerce?

• Differences in Commerce:
  • Northern Commerce: The North was more industrialized and commercialized. It focused on manufacturing, textiles, and trade, and had a more diverse economy with a strong merchant class. The North also had a more developed transportation infrastructure (canals, roads, railroads) facilitating both internal and international trade.
  • Southern Commerce: The South’s economy was primarily agrarian, relying heavily on plantations and the cultivation of cash crops like cotton, tobacco, and rice. The South was less industrialized and more dependent on slave labor, which made economic development in other sectors more challenging.
  • Economic Focus: The Northern economy was more diversified with greater emphasis on commerce, while the South was focused on agricultural production, which limited the development of urban centers and industries in the region.

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Step 3: APA Citation of Your Textbook Sources

• As you answer these questions, make sure to cite the specific chapters of your textbooks you are using. You can follow APA format for citing your sources both in-text and in your reference list. For example:

  • In-text citation: (Author, Year)
  • Reference list: Author, A.A. (Year). Title of book. Publisher.

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Step 4: Finalizing Your Paper

• After completing the answers to each question, proofread your paper for clarity, organization, and proper APA formatting.
• Ensure that your responses are thorough, well-supported by evidence from your textbooks, and free of grammatical or typographical errors.

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