The American Revolution changed the economy of the United States in many ways. Here are some important points to know:
Debt: After the war, the new country owed about $27 million. This was a big amount of money!
Trade Problems: The British rules hurt trade. Between 1775 and 1783, trade dropped, and the country imported $1.3 million less goods.
Money Problems: The government printed a lot of paper money, which caused prices to go way up. During the war, prices increased by almost 1,000%.
Making Our Own Goods: The revolution pushed the U.S. to start making things at home. After the war, many industries grew, helping the economy get better.
These changes had a big impact on how the new nation developed after the war!
The American Revolution changed the economy of the United States in many ways. Here are some important points to know:
Debt: After the war, the new country owed about $27 million. This was a big amount of money!
Trade Problems: The British rules hurt trade. Between 1775 and 1783, trade dropped, and the country imported $1.3 million less goods.
Money Problems: The government printed a lot of paper money, which caused prices to go way up. During the war, prices increased by almost 1,000%.
Making Our Own Goods: The revolution pushed the U.S. to start making things at home. After the war, many industries grew, helping the economy get better.
These changes had a big impact on how the new nation developed after the war!