What was the American economy like during the revolutionary war?
1 Answer
Jan 10, 2016
It remained relatively unchanged.
Explanation:
During the entirety of the 18th America's wealth was found in its natural resources and its ability to produce large quantities of food. America was by definition an agrarian economy. To a lesser extent America built ships. This was of course important but England had actually outlawed the building of ships of war in America. Even so, a few were built.
The other parts of the economy, production of cloth and clothing, of shoes, hats, and liquor all happened on a small scale and most of it happened in private homes.
The American government's economy was heavily stressed as it had little income from the levying of taxes and was reluctant to impose new taxes even though they were needed.
