Southern Economic History, 1865-1909
- ISBN-10
- 1565549562
- ISBN-13
- 9781565549562
- Category
- History
- Pages
- 730
- Language
- English
- Published
- 2002-07
- Publisher
- Pelican Publishing
- Author
- Thomas Edward Watson
Description
In 1900 there was a general agreement among Southerners on the need for a comprehensive history of the Southern states. It had been and was a nation, sharing beliefs, traditions, and culture. This series, originally published in 1909, is a record of the South's part in the making of the American nation. It portrays the character, the genius, the achievements, and the progress in the life of the Southern people. In 1865 the South was politically and economically prostrate. The great loss of life and health among the white population, the destruction of the slave-labor system, the suffering and destruction that existed during the last years of the war and in the Reconstruction period, the loss of capital, and the bankruptcy of state and local governments weighed heavily over the region. The infrastructure was destroyed and worn out. At least $30 million worth of crops were stolen from farmers at the end of the war. A tax on cotton siphoned another $70 million out of the destitute land. Finally, high real-estate taxes were levied against the holders of land. Since there was so little money, tax sales were made for unbelievable prices. Out of the chaos developed sharecropping or working for a "share" of what was produced. After the tenant was the landowner; above the landowners was the local bank, lending the landowner money against the crop. Over them all were the New York banks, squeezing everyone in the chain. The first tentative industrial development was begun by enterprises from the North. But all progress was tenuous because of conditions imposed on the South after the war.
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