New York Growth
For a number of reasons, business enterprise in New York grew by leaps and
bounds between 1825 and 1860. New York\'s growth between the years 1825 and 1860
can be attributed 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 freight cut to one-tenthof the previous
figures, commerce via the canal soon made New York City the chief port of the

Atlantic. The growing urban population and the contruction of canals, railroads
and factories stimulated the demand 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 become 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 significant 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 more 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 1820\'s until the middle 1830\'s and the
farmer\'s shared in the general prosperity (271). Although the rapid
industrialization and urbanization of New York had a great deal to do with the
success of agricultural 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 the the growth of democracy
existed in regard to the foremost economic questions, there was absolutely no
partisan division evident in the movement to incorporate new financial
institutions; rather , the primary factors , which the legislators examined,
concerned value, feasibility, profit and the location within the state. Dozens
of turnpike proposals, most of which werebacked by the Republicans, passed the
legislature; but the Federalists cooperated, seeing the chance for profits.

Prominent Federalists like John Rutherfurd, John Neilson, William Paterson, John

Bayard, and James Parker invested susstanial sums in the turnpike business.

There were numerous Republicans who were also vitally interested in the turnpike
business (Kass, 150). Bipartisan support also accompanied plans for the
construction of bridges and canals. All of the parties contained a large number
of adherents from from every level of economic well-being in society. This helps
to expain the absence of any clear-cut party differences on the major economic
issues of the such as the chartering of banks, the protestive tariff, internal
improvements, the development of manufacturing, and the promotion of superior
agricultural techniques. Each politcal faction had segments both pro and con on
most of these questions, and, inall cases it was opprtunism, the desire for
profits, which was decisive in determining one\'s political position on these
economic issues(175). New York\'s economic growth can also be attributed to the
invention of the cotton gin. Cotton had become a boom crop in the south,
however, plantation owners were either too engrossed in the production of their
crops or too unschooled in business techiniques to handle its distribution. Some
just did not want to be bothered. This opened thee door for agents representing

New York shipping firms who were only too happy to help them out - for a fee.

This scheme not only earned the New York merchants a handsome profit but also
solved the problem that without cotton the ship owner would be hards preesed to
find adequate cargoes for their return voyages. And so it came about that New

York in the nineteeth century became the nation\'s foremost shipper of
cotton(Allen, 108-109). The cotton shipments entering New York harbor were
brought to textile mills for processing. A group of New york capitalist
estashlished the Harmony Cotton Manufacturing Company in Cohoes. A heavy
investment of