How did the new republic survive the major domestic and foreign crisis of its first decade?
Answers
Answer:
The economic problems faced by the Congress deeply touched the lives of most Americans in the 1780s. The war had disrupted much of the American economy. On the high seas the BRITISH NAVY had great superiority and destroyed most American ships, crippling the flow of trade. On land, where both armies regularly stole from local farms in order to find food, farmers suffered tremendously.
When the fighting came to an end in 1781, the economy was in a shambles. Exports to Britain were restricted. Further, British law prohibited trade with Britain's remaining SUGAR COLONIES in the Caribbean. Thus, two major sources of colonial-era commerce were eliminated. A flood of cheap British manufactured imports that sold cheaper than comparable American-made goods made the post-war economic slump worse. Finally, the high level of debt taken on by the states to fund the war effort added to the ECONOMIC CRISIS by helping to fuel rapid inflation.
The new political and economic policies helped in the survival of the Domestic and foreign crises.
Explanation:
- Just after the Civil War, the American republic went through a tough phase to overcome foreign and domestic issues. Those issues were resolved by different policies in political as well as economic fields.
- During the first decade of the new republic, the greatest railroad connection of the world connected the tracks of around 15,000 miles which developed the import-export between countries of the world.
- A national unified market initiated the company growths feasible and the growth of many industries took place.
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