Economic History

A House Dividing: Economic Development in Pennsylvania and by John Majewski

By John Majewski

Professor Majewski compares Virginia and Pennsylvania to give an explanation for how slavery undermined the advance of the southern economic system. at the beginning of the 19th century, citizens in each one kingdom financed transportation advancements to elevate land values and spur advertisement development. even though, through the 1830s, Philadelphia capitalists all started financing Pennsylvania's railroad community, development built-in platforms that reached the Midwest. Virginia's railroads remained a set of strains with out western connections. the shortcoming of a massive urban which may supply capital and site visitors for large-scale railroads used to be the weak point of Virginia's slave economic climate.

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Additional info for A House Dividing: Economic Development in Pennsylvania and Virginia before the Civil War (Studies in Economic History and Policy)

Example text

Above all else, reformers desired to create new associations that would bring together scattered, isolated farmers into a community of sharing and cooperative experimenters. Reformers sponsored periodicals, agricultural societies, public speakers, and agricultural fairs to encourage the dissemination of new knowledge. While private profit might encourage a farmer to take up a successful experiment, it was the approbation of the community that would lead him to share it with others. As the editor of the Southern Planter put it in 1841, "Individual and isolated action needs the stimulant of public exhibition.

Developmental Corporations in a Slave-Labor Society 31 Wealthy slaveholders provided the bulk of the capital for the developmental corporations. Albemarle residents who owned 15 or more slaves provided 90 percent of the capital for the Staunton and James River Turnpike, 52 percent for the Rivanna Navigation Company, and 49 percent for the James River and Kanawha Company. Large slaveholders, who owned much of the land in the county, would have the most to gain from improvements that raised property values.

Thus out of a total of 121 investors linked to census and tax records, only 10 (8 percent) were not in position to reap indirect benefits. Developmental Corporations in a Slave-Labor Society 31 Wealthy slaveholders provided the bulk of the capital for the developmental corporations. Albemarle residents who owned 15 or more slaves provided 90 percent of the capital for the Staunton and James River Turnpike, 52 percent for the Rivanna Navigation Company, and 49 percent for the James River and Kanawha Company.

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