The population declined from 8 million to 4. Policymakers capitalized on public sentiment to acquire Florida and Oregon and declared war on Mexico in to seize Texas, California, and everything in between. Harper's Weekly V. Where at the beginning of the century exports composed about 10 percent of farm income, they amounted to between 20 and 25 percent by the end of the century.
By roughly one-sixth of all capital investments in United States were in the railroads. The economy before economic growth: The Malthusian trap The pre-growth economy was a zero-sum-game: Living standards were determined by the size of the population In the previous chart we saw that it was only after that living standards in the UK did start to increase for a sustained period.
The economy came out of the depression following the Panic of at the end of that decade, lurched into a short, sharp depression in —, and then fell into a much more severe depression from to The signal of every economic collapse in the late nineteenth century was the descent of railroads and the banks associated with them into receivership.
Everything in the late nineteenth century seemed to move faster than ever before.