Common historical fallacies: Difference between revisions

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* while cotton represented a significant portion of antebellum exports,  
* while cotton represented a significant portion of antebellum exports,  
* and while cotton was the dominant slave-produced southern agricultural product,  
* and while cotton was the dominant slave-produced southern agricultural product,  
** not all cotton was produced by slaves/ slave owners;  
** not all cotton was produced by slaves/ slave owners;
** exports were not a significant portion of the overall U.S. antebellum economy
** exports were not a significant portion of the overall U.S. antebellum economy
** production and exports of cotton increased significantly after the Civil War and emancipation
click EXPAND to view chart of US exports as portion of the economy, 1790-1860:
click EXPAND to view chart of US exports as portion of the economy, 1790-1860:


MERCHANDISE IMPORTS, EXPORTS, AND TRADE BALANCE (billions of dollars):  
MERCHANDISE IMPORTS, EXPORTS, AND TRADE BALANCE (billions of dollars):
{| class="wikitable"
|Year
|Value of Exports ($bn)
|Est. GDP ($bn)
|Exports as % of GDP
|Cotton % of exports
|Cotton % of GDP
|-
|1820
|0.07
|0.07
|10%
|40.0 % (est)
|4.0%
|-
|1830
|0.07
|1.01
|6.90%
|(no data)
|
|-
|1840
|0.12
|1.55
|7.70%
|(no data)
|
|-
|1850
|0.14
|2.56
|5.40%
|53.4%
|2.9%
|-
|1860
|0.33
|4.32
|7.60%
|(no data)
|
|}


Year Exports GDP Exports as % of GDP
Year Exports GDP Exports as % of GDP