US Prosperity

The US has always been prosperous from its beginnings as a British Colony in 1650 to today.  We have had periods of economic decline, war and disease.  But we have been the most prosperous nation on the planet in history. We established a “market economy”.

The population of white settlers grew from an estimated 40,000 in 1650 to 235,000 in 1700. In 1690 there were an estimated 13,000 black slaves. The population grew at an annual rate of over 3% throughout the 18th century, doubling every 25 years or less. 

By 1775 the population had grown to 2.6 million, of which 2.1 million were white, 540,000 black and 50,000 Native American, giving the colonies about one third of the population of Britain.

The three most populated colonies in 1775 were Virginia, with a 21% share, and Pennsylvania and Massachusetts with 11% each.

https://en.wikipedia.org/wiki/Economic_history_of_the_United_States

After the Revolutionary War, the development of the steam engine 1799 would allow for the expansion of the Industrial Revolution and the development of the railroads. Prior to 1820, American’s prosperity was dependent on its agriculture and trade.

The Industrial Revolution began in Great Britain in 1790 using the steam engine to power manufacturing equipment

The Louisiana Purchase of 1804 opened up the Midwest for development.

US railroads began to develop in 1826 to deliver freight.

By1856 the US had opened up the West and Southwest for development.

The first transcontinental railroad was completed in 1869.

The US automobile industry was established in 1890. Fords sold for $500 in 1908 making automobiles affordable to the average family.

The first hydro-electric plant began operation in 1895 at Niagara Falls.

In 1900, the US began to install water treatment and chlorination completed in 1940.

In the 1920s. radio broadcasts began in the US and air travel became common.

In the 1930s, electricity was available to most homes, the ice box was replaced by the refrigerator, the clothes washer replaced to washing by hand.

In the 1940s, phones arrived in the home. Television became common in 1948.  Home air conditioners became affordable in 1947.

http://www.answers.com/Q/American_prosperity_in_the_early_1800s_was_based_on?#slide=3

Wikipedia

My grandparents were born in the 1880s and they experienced the transition from the horse and buggy to our landing on the moon in the 1960s. My great grandparents were born in the 1850s and witnesses the Industrial Revolution as it was happening.

As I was writing this, I was struck by the historic opportunities we in the US experienced after 1804 and the advances in our standard of living over the past century.

Our early settlers fled from Europe to have land, freedom and self-reliance. Our “market economy” allowed this to happen.

Norb Leahy, Dunwoody GA Tea Party Leader