ECONOMY
The economy of America in majority was greatly booming due to the Erie Canal. It helped raise the economical sectors in developing cities such as New York City or Buffalo. It had raised financial growth in New York from tolls and natural resources. Many Irish people were affected by this canal as well.
- Took away business in ports such as Philadelphia and Baltimore
- Increased the wealth and aided the economy in New York City and Buffalo
- Irish people were a large part of the workforce and many Irish people came from their homeland and moved to cities around the canal
- From 1824 to 1882, around $121 million were collected from tolls
- For a short time, the state of New York stopped railroads and used canals to move goods so that the economy will boost
- The Erie Canal was sometimes less effective than railroads because it was slower and the rivers were frozen in winter
- Natural resources extracted in the West could be shipped up the canal to markets in the Northeast
- The canal brought 20 million tons of property valued at more than $27 million in just one year
- Population of New York had reached 3 million because of the canal