1859- Chain department store still with us today

1860-61 - Water Power #1 Energy Source for Manufacturing

1860-1920
Labor Force Grew- in 1860, there were about three farmers per manufacturing worker; by 1910, the ratio was one
to one. Moreover, the number of workers as a percentage of the total population was rising, from 33 to 40 percent. The population
grew by a factor of 2.7 between 1870 and 1920, and the labor force grew by 3.2 immigrants, adding to the population and even more
to the labor force. But the main source of growth was the natural increase of the native and immigrant populations.

1860-1920
Gains for workers (hours and wages)- Workers made considerable progress between the end of the Civil War and
the end of World War I. In 1860, the average number of hours worked per day in nonagricultural employment was 10.8. By 1890, the
average workday in manufacturing was 10.0 hours, and people normally worked a six-day week.
By 1910, the standard workweek was 55 hours in all industries; by 1920, it had dropped to about 50. A widespread standard week
consisted of five 9-hour days and 4 to 5 hours on Saturday morning
Real wages grew and earnings increased 50% between 1860 and 1890.
Between 1860 and WW1 energy sources widen markets and organized business structures. Economic scales and shifts in resources
from lower to higher productivity.
Economy assumed many of its modern characteristics during 1860 and WW1
During 1860 and WW1 demand for liqueur, and tobacco were high
Mens clothing of one size fits all was very popular
Many people started getting custom items like shoes, and other clothing.

In 1860 wind and water were most popular. Then in 1870 steam power replaced that. Later in 1920 electricity would replace steam
power.
1860 - Decline in confidence in the Confederate paper money

1861: Civil War Begins

March 4, 1861; Abraham Lincoln becomes POTUS Civil War begins

1861- Morrill act (higher taxes on imports)

-Virginia only cannon manufacturer in South

1861 1862 - the South exported only 13,000 bales of cotton from a crop of 4 million bales
1862; Department of Agriculture created Cattle Drives in Texas begin in 1866, by 1880s wealth cattle baronies exist, ending in 1885
due to changes in northern ranges.
1861 1862 -The southern government imposed a ban on sales of cotton to the North.
-1862 -Union took control of New Orleans, cutting off a major trade route. Southern manufacturing rebounded from the war more
quickly than southern agriculture. Southern manufacturing output had approached prewar levels by the early 1870s, and the Souths
transportation network (based on steamboats, roads, and railroads) had been completely revitalized.
-1863 - Foreigners for the most part were unwilling to lend to the Confederacy, especially after the Norths naval blockade became
effective.

1863-1864; Federal Naval Blockade on Foreign imports

North takes control of Mississippi. South has shortage of horses and mules, Southern railroad strained to capacity.
1864; Shermans march through Georgia destroys productive capacity in the region.

Advances in agricultural technology; plant varieties, irrigation systems, fertilizers. Ex: new wheat allowed planting 100 miles
northward/westward
Hard Times on the Farm 1864-1896
Conditions were especially hard on the frontier, where the combination of dreary surroundings and physical hardship compounded the
difficulties of life.

1861 1865 - Indexes of prices and money in the South (given in Figure 14.2) show clearly that prices rose further and faster than the
stock of money and that the final months were ones of hyperinflation

1861 - a sharp financial panic occurred in the North and banks suspended payments of specie. The government quickly raised taxes
and sold bonds; first taxes on personal and business income taxes

1862 Suspension of Gold Payments Gold was flowing out of the country at such an alarming rate that the government and banks
were forced to suspend, for sometime, the withdrawal or use of gold.

1862 Greenbacks Because sufficient revenues for the war were not obtained through the sale of bonds, the treasury issued a new
fiat currency called the greenbacks. This currency played a large part in the prices of money skyrocketing during the civil war.

1862 Railway Act of 1862 Congress granted a charter of incorporation to the Union Pacific Railroad, which was authorized to
build a line from Council Bluffs, Iowa, to the Western boundary of Nevada. This was vitally important because it finally gave a
company the ability to get their companies started on building the transcontinental railway.

1862: Rivalries for the eastern terminus are settled after the Northern Platte River route is selected because of use by the pony express,
stages, and freight wagons.