Textile mills, factories, and industries were scattered across the North.
These industries made products from raw materials, called manufacturing. These manufactured goods would then be taken to markets for sale. The North liked tariffs, a tax on foreign goods, because these taxes would make imported goods more expensive, and people would buy Northern-made items. The use of tariffs protected the factory owners and workers from losing their jobs.
The South's economy was based on farming or agriculture. Large farms, called plantations, used slave labor to harvest abundant amounts of crops to sell. These were called cash crops and included such things as tobacco, cotton, and rice. The South disliked tariffs because most of their goods were bought from foreign countries and cost more because of the taxes.
The North and South made their money in very different...
The process would take centuries, but by Elizabethan times it had surely begun. Serfdom had all but disappeared from England, and money rents and wages had largely replaced other forms of compensation and exchange. The new importance of trade contributed to a profound change in attitudes, one that was beginning to re-shape society itself. In 1579, Thomas Churchyard defined as nobles, "Merchauntes that sail forrain countreys," a statement that
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