The Cotton Economyp. 299-307

Rise of King CottonTobacco: the first choice in the South!

Problems:Prices subject to frequent depressions

One went from 1820’s-1850’sWore out the SoilThus, farmers in VA, MD, NC switched to other

cropsWheat

Rise of King CottonRice:

Mainly in SC, GA, FLMore stable, more lucrativeDemanded high amounts of irrigation9-month growing season!Competition w/ Caribbean sugarRestricted to a very small geographic area

Rise of King CottonSugar:

Along the gulf coast (LA and TX)

Quite profitableRequired intensive laborAlso a long growing season

Rise of King CottonFailures or limitations of the other crops led to

COTTON!Hardy, could grow successfully in variety of

climatesVariety of soilsCotton gin made processing cotton much easierDemand grew very quickly

1st English textile mills2nd New England’s textile mills

Rise of King CottonProduction spread into SC, GA, AL, MS, LA, TX,

AR

Prices were up and down, but overall profitable

By Civil War, cotton was 2/3 of the total export trade of the entire US!$200 million/year; “cotton is king”

Shift in Slave PopulationDramatic increase in number of slaves in South

As cotton production moved west, slavery went with it

Also, a migration of slaves from Upper South to Deep South

See maps on p. 301

Southern Trade and Industry

Manufacturing developed very slowly in south

Total value of textile production in South was only 2% of value of cotton exports! Easy to see why South stayed with cotton!

Merchants found buyers for cotton, brokers or factors

Rudimentary banking system

What do we know about the inadequate transportation system? Volunteers to discuss?

“Economic subordination” of the South to the North???

The South’s “Colonial Dependency”

Why didn’t the South develop a larger industrial/commercial economy?

Why did it remain so different from the North?

The South’s “Colonial Dependency”

Large profits from agriculture

Capital invested in land & slaves

Increased dependency on slavery

Climate not suitable for industry???

Some claimed Southerners lacked a strong work ethic

What do you think?

A distinct way of life; the Southern way; elegance, chivalry; time moved slower

Disdain for Yankees, rapid growth

Scarlett from Gone with the Wind, 1939

White Society in the SouthOnly a small minority in South owned slaves

Only about 6% in 1850The number changes somewhat when you

consider that each family had 5 members in it, so the number was actually about 25% of homeowners had slaves

Those who did own slaves typically had only a few

Yeoman farmers are the majority in the antebellum South

Time to ShareI will draw a name out, and you will have to

share on the following information:Planter Aristocracy & the Cavalier MythPlantation ManagementAristocratic Values—Honor & ChivalrySubordinate Status of Women/The Southern Lady

Brooks & Sumner in Congress

Time to ShareMore sharing!

Other burdensLimited educational opportunitiesHill peopleClose relations with the plantation aristocracyCommitment to paternalismLimited class conflict