Download e-book for iPad: A House Dividing: Economic Development in Pennsylvania and by John Majewski

By John Majewski

ISBN-10: 052159023X

ISBN-13: 9780521590235

Professor Majewski compares Virginia and Pennsylvania to give an explanation for how slavery undermined the improvement of the southern economic system. at the start of the 19th century, citizens in each one country financed transportation advancements to elevate land values and spur advertisement progress. although, by means of the 1830s, Philadelphia capitalists all started financing Pennsylvania's railroad community, development built-in platforms that reached the Midwest. Virginia's railroads remained a suite of strains with no western connections. the inability of a massive urban that may offer capital and site visitors for large-scale railroads was once the weak spot of Virginia's slave economic system.

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Extra resources for A House Dividing: Economic Development in Pennsylvania and Virginia Before the Civil War (Studies in Economic History and Policy)

Sample text

Although the project never came close to fulfilling its larger aims, residents of Albemarle nevertheless benefited from the project. 59 The canal also made it easier to send goods along the improved Rivanna River to Richmond. In 1842, the navigation company wanted to dig a complete canal (as opposed to merely improving the Rivanna) to the James. 60 Indirect Benefits ofAlbemarle fs Developmental Corporations As the 1830s ended, Charlottesville and Scottsville appeared deadlocked: Charlottesville served as the commercial hub for the central portion of the county, including the nearby University of Virginia, and undoubtedly benefited from its position as county seat.

As Chapter 5 demonstrates, local financing made coherent networks cumbersome to organize, especially with no fewer than four cities seeking to build the central trunk line. The state legislature, an institution that might have transcended local interests, never overcame the state's commercial rivalries. Pitting Richmond, Norfolk, Petersburg, and Lynchburg in a battle for mercantile supremacy, these commercial rivalries prevented the legislature from focusing resources on a single trunk line. By i860, a collection of uncompleted and unprofitable railroads and canals littered Virginia's landscape.

Entrepreneurs such as "Member" effectively used local newspapers and agricultural societies to overcome the freerider problem associated with indirect benefits. The property owners in and around Charlottesville and Scottsville, after all, enjoyed higher property values whether or not they made an investment in the developmental corporations.

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A House Dividing: Economic Development in Pennsylvania and Virginia Before the Civil War (Studies in Economic History and Policy) by John Majewski

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