Growth of NYS Business :: GCSE Business Marketing Coursework

Growth of NYS Business For a number of reasons, business enterprisingness in New York grew by leaps and bounds between 1825 and 1860. New Yorks growth between the years 1825 and 1860 can be attri excepted to a number of factors. These include but cannot be limited to the construction of the Erie Canal, the invention of the telegraph, the developed of the railroads, the establishment of Wall Street and banking, the textile, shipping, agriculture and newpaper industries, the development of steam power and the use of iron products. On October 26, 1825 the Erie Canal was opened. The canal immediately became an important commercial route connecting the East with the Ohio and Mississippi Valleys. With tht time of travel cut to one-third and the cost of shipping encumbrance cut to one-tenthof the previous figures, commerce via the canal soon made New York City the chief port of the Atlantic. The festering urban population and the contruction of canals, railroads and factories stimulat ed the necessity for raw materials and food stuffs. In 1836 four-fifths of the tonnage over the Erie Canal came from western New York (North, 105). Much of this cargo was in the form of agriculture goods. The farmer sound a shrewed businessaman of sorts as he tended to produce whatever products would leave him the greatest profit margin. The rise of the dairy industry was by far the most world-shaking development in the agricultural history of the state between 1825 and 1860. Farmers discovered that cows were their most relliable money-makers, since both the domestic and foreign market kept demanding much dairy products (Ellis, 273). Price flucuations became increasingly important for the farming population between 1825 and 1860. Prices rose from the low level of the early 1820s until the middle 1830s and the farmers shared in the commonplace prosperity (271). Although the rapid industrialization and urbanization of New York had a great deal to do with the success of agricultu ral markets sporadic demand from aboard as a result of the Irish famine, the Crimean War and the repeal of the Corn Laws in England also contributed(North, 141). During this period Ohio, Pennsylvania, New York and Virginia, in that order were the leading wheat growing states. Between the years 1840 and 1850 New York ranked first in the production of beef. The absence of politic party differences on issues related to