One was economics. This all started because of the panic of 1857. In the panic of 1857 there was a recession in 1856. The panic began with a loss of confidence in an Ohio bank, but spread as railroads failed, and fears that the US Federal Government would be unable to pay obligations in specie mounted. More than 5,000 American businesses failed within a year, and unemployment was accompanied by protest meetings in urban areas. Eventually the panic and depression spread to Europe, South America and the Far East. No recovery was evident in the northern parts of the United States for a year and a half, and the full impact did not dissipate until the American Civil War. There was 3 causes that made people lose confidence in the banks. One was the decision of British investors to remove funds from U.S. banks, which raised questions about overall U.S. economic soundness. And another was the fall of grain prices, which spread economic misery into rural areas, because of the end of the Crimean War and Russian re-entry into global markets, and the last one was the collapse of land speculation programs that depended on new rail routes, ruining thousands of investors. All these events made bonds and stock prices fall, which made investors …show more content…
Slavery was huge because there was states that opposed slavery and other states that didn’t. In the America revolution slavery had proven unprofitable in the North and was dying out. Even in the South the institution was becoming less useful to farmers as tobacco prices fluctuated and began to drop. However, in 1793 Northerner Eli Whitney invented the cotton gin; this device made it possible for textile mills to use the type of cotton most easily grown in the South. Cotton replaced tobacco as the South’s main cash crop and slavery became profitable again. Although most Southerners owned no slaves at all, by 1860 it was the South’s economy. Slaves were not people, they were just there to work. Many white southerners argued that black people could not take care of themselves and that slavery was a compassionate institution that kept them fed, clothed, and occupied. While in reality they were treated immoral and harsh. Families were separated and sold, mothers were taken away from their children, and they would usually get whipped as punishment. The United States Supreme Court ruled in the Dred Scott decision that slaves were property of their masters and had no citizens’ rights. This angered very many slaves and cause them to run away from their farms or mess up the farming equipment. Many slaves ran away to the north before the war started. They would travel through the Underground Railroad. The Underground Railroad was a