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EHS Abstract Submission
(c) 1997 EH.Net
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Name: John Wallis
Email: wallis@econ.umd.edu
Institution: University of Maryland College Park
Co-author: None
Title: American Federalism and Economic
Development, 1840-1900
Internet Address
of abstracted work: Not available on the Internet
By mail:
John Wallis
Department of Economics
University of Maryland
College Park MD 20742 USA
Language: English
Abstract:
By the 1830s, state governments dominated public investment in
internal improvements: banks, canals, and railroads for the most
part. After the default crisis in the early 1840s, state
governments played a smaller role in investment, and their
investments were steadily replaced by local government investment
in transportation, water and sewage, and other public utilities.
One view of the nineteenth century is that, after 1840,
governments played only a small role in promoting economic
development. Others have argued that governments remained active
promoters throughout the century. This paper supports the view
of the "American System" writers who viewed public investment in
economic development as a continuous, but changing, process
throughout the 1800s. It provides preliminary evidence on the
size of state and local investments throughout the century;
explains why some authors have believed (inaccurately) that
government promotion ended after 1840; and provides an
explanation for the shift from state to local investment as the
century progressed. The explanation hinges on the changing
revenue structure of state governments, particularly the
declining then rising importance of property taxes in state
revenues before and after 1840.
Bibliography: Wallis, John. "American Federalism and
Economic Development, 1840-1900." Paper presented at the 1997
Cliometrics Conference, University of Toronto, May 1997.
Subject: I
Geographical Area: 7
Country/Region: United States
Time Period: 7
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