Capitalism

The Second Great Awakening

In the 1810s and 1820s, Americans were drinking as much as seven gallons of alcohol per year per person, drinking at every meal. Daniel Walker Howe, What Hath God Wrought: Transformation of America, 1815-1848, 167. Even students at school could see their teacher inebriated while teaching, with drunkenness being commonplace throughout society. Id. This came, however, during the […]

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The Panic of 1819

America’s reliance on cotton as an economic staple presented an opportunity for prosperity and an accompanying risk. In late 1818, the value of cotton fell as supply outpaced demand and “London banks decided there was no longer a need to extend more credit.” Daniel Walker Howe, What Hath God Wrought: Transformation of America, 1815-1848, 142. Then, […]

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