EconomySee also: History of slavery in Maryland
Despite early competition with the colony of Virginia to its south, the Province of Maryland developed along very similar lines to Virginia. Its early settlements and populations centers tended to cluster around the rivers and other waterways that empty into the Chesapeake Bay. Like Virginia, Maryland's economy quickly became centered around the farming of tobacco for sale in Europe. The need for cheap labor to help with the growth of tobacco, and later with the mixed farming economy that developed when tobacco prices collapsed, led to a rapid expansion of indentured servitude and, later, forcible immigration and enslavement of Africans.
The writer Abbe Robin, who travelled through Maryland during the Revolutionary War, described the lifestyle enjoyed by families of wealth and status in the colony:
- " are large and spacious habitations, widely separated, composed of a number of buildings and surrounded by plantations extending farther than the eye can reach, cultivated...by unhappy black men whom European avarice brings hither...Their furniture is of the most costly wood, and rarest marbles, enriched by skilful and artistic work. Their elegant and light carriages are drawn by finely bred horses, and driven by richly apparelled slaves."
In the later colonial period, the southern and eastern portions of the Province continued in their tobacco economy, heavily dependent on slave labor, but as the revolution approached, northern and central Maryland increasingly became centers of wheat production. This helped drive the expansion of interior farming towns like Frederick and Maryland's major port city of Baltimore.
Other articles related to "economy":
... Scotland has a western style open mixed economy that is closely linked with the rest of Europe and the wider world ... Traditionally, the Scottish economy has been dominated by heavy industry underpinned by the shipbuilding in Glasgow, coal mining and steel industries ... the 1970s and 1980s saw a shift from a manufacturing focus towards a more service-oriented economy ...
... and Money that lower aggregate expenditures in the economy contributed to a massive decline in income and to employment that was well below the average ... In such a situation, the economy reached equilibrium at low levels of economic activity and high unemployment ... basic idea was simple to keep people fully employed, governments have to run deficits when the economy is slowing, as the private sector would not invest enough to keep production at the normal level and bring the ...
... During its history Quincy has been known as a manufacturing and heavy industry center, with granite quarrying dominating employment in the 19th century and shipbuilding at Fore River Shipyard and Squantum Victory Yard rising to prominence in the 20th century ... The recent decades have seen a shift in focus to several large employers in the financial services, insurance and health care sectors of the economy ...
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Famous quotes containing the word economy:
“Even the poor student studies and is taught only political economy, while that economy of living which is synonymous with philosophy is not even sincerely professed in our colleges. The consequence is, that while he is reading Adam Smith, Ricardo, and Say, he runs his father in debt irretrievably.”
—Henry David Thoreau (18171862)
“The counting-room maxims liberally expounded are laws of the Universe. The merchants economy is a coarse symbol of the souls economy. It is, to spend for power, and not for pleasure.”
—Ralph Waldo Emerson (18031882)
“Everyone is always in favour of general economy and particular expenditure.”
—Anthony, Sir Eden (18971977)