On the Crises of iS^/, 184/, and 18^/ 



15 



PRODUCTION 



Year Bushels 



1840 84,823,273 



1850 100,485,944 



ISGO 173,104,924 



Year exports 



Wheat, bu. Flour, bhl. 



1850 608,661 1,385,448 



1851 1,026,725 2,202,335 



1852 2,694,540 2,799,339 



1853 3,890,141 2,920,918 



1854 8,036,665 4,022,386 



1855 798,884 1,204,540 



1856 8,154,877 3,510,626 



1857 14,570,331 3,712,053 



In connection with a study of the decHne of agricuUure in 

 England, it may be 'of interest to observe the tendency in the 

 United States. For this purpose the following table will be 

 useful : 



The table shows that for this particular decade manufactures 

 with regard to -product had the better of the situation. In the 

 decade 1870-80, however, the situation is just the reverse, while 

 in the decade 1880-90 manufactures again had the upper hand. 



Summarizing: The crisis of 1857 in Europe was -character- 

 ized by speculation and over -investment in general. In the 

 United States, while there was a general change in the perma- 

 nent environment, decidedly the most marked advance was in 

 railwav construction. 



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