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Those interested in learning more about the early American economy might want to start with John J. McCusker and Russell R. Menard, The Economy of British North America, 1607–1789 (revised ed., Omohundro Institute of Early American History and Culture and University of North Carolina Press, 1991), which provides the best overview of economic ...
- In 1774, colonial Americans had the highest standard of living on earth. AVG. ANNUAL INCOME. £13.85. According to historian Alice Hansen Jones, Americans at the end of the colonial era averaged an annual income of £13.85, which was the highest in the western world.
- The average tax rate in colonial America was between 1 and 1.5% U.S. TAX RATE. 1-1.5% Colonial and Early Americans paid a very low tax rate, both by modern and contemporary standards.
- The Depression of the 1780s was as bad as the Great Depression. Between 1774 and 1789, the American economy (GDP per capita) shrank by close to 30 percent.
- The US’s largest European trading partners in the late 1790s were the German city-states of Hamburg and Bremen. American trade with the Hanseatic city-states of Hamburg and Bremen boomed with upon the outbreak of the Napoleonic Wars.
Long Term Economic Growth – 1860–1965: A Statistical Compendium. Business Booms and Depressions since 1775, a chart of the past trend of price inflation, federal debt, business, national income, stocks and bond yields for the United States from 1775 to 1943. Budget of the United States Government.
“Europeans colonize North America in the early seventeenth century, motivated by religious and economic goals. Spain and France, the two Catholic powers in Europe, lead the way, establishing Santa Fe and Québec as their colonial capitals in North America, but Protestant England soon follows along with other European nations such as Sweden and the Dutch Republic. Tens of thousands of English ...
From 1800 to 1860 men and women moved into western cities to find new opportunities and new profits. Exchanging raw materials such as crops, minerals, and animal skins for manufactured goods, or providing services to outlying communities, became the primary economic roles of these urban areas. The early nineteenth century saw the birth of new ...
In 1700 about 250,000 European colonists and enslaved Africans lived in North America, primarily along a thin strip of land bordering the Atlantic Ocean. By 1870 these scattered colonial settlements had been consolidated into two continental nations – the United States and Canada – with a combined population of more than 40 million.
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The U.S. Economy: A Brief. History. The modern American economy traces its roots to the quest of European settlers for economic gain in the 16th, 17th, and 18th centuries. The New World then progressed from a marginally successful colonial economy to a small, independent farming economy and, eventually, to a highly complex industrial economy.
