Re: South -> North Cash Flow?
On Apr 13, 2007, at 9:30 AM, Joseph Catron wrote:
I was raised to vaguely understand that wealth in the United States flows from the South (with its cheaper labor and more abundant natural resources) to the North. However, I have no empirical basis for believing this, and honestly don’t know where to start looking for something to prove or disprove it; maybe I just can’t summon the right keywords. Can anyone point me in the right direction?
New York City certainly profited enormously off the cotton trade -
New York bankers made money financing it, shippers made money on
exporting cotton and importing finished goods, New York merchants
made money selling those finished goods to the South. All in all, a
classic colonial relationship, and why so many NY interests supported
slavery. But after the Civil War, I’m not so sure.
Doug