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The impact of the civil war on capital intensity and labor productivity in southern manufacturing

"The Civil War resulted in a substantial divergence in the regional structure of factor prices. In particular, wages fell in the South relative to the non-South, but interest rates and other measures of the costs of capital increased. Using archival data for manufacturing establishments, we show that capital-output and capital-labor ratios in southern manufacturing declined relative to non-southern manufacturing after the War, precisely in the direction implied by the regional shifts in factor prices. Labor productivity in Southern manufacturing also declined, but this decline is explained by the reduction in capital intensity"--National Bureau of Economic Research web site.

united states↗

Image 8 of The Washington daily news (Washington, D.C.), March 4, 1926

1 C Industry to Be Shown by Exhibits at Auditorium More Than 90 Firms to Show Washingtons Progress In Manufacturing Production Washington will have a chance to I see itself as an industrial center to yight Our industries will be shown in the exhibits at the Auditorium of the Second Annual Industrial Expo sition 200 Booths Two hundred booths covering 50000 square feet of floor space present a panorama of business life popularly and mis in the Capital takenly supposed to be engaged only in the business of government More than 90 manufacturing con And altho cerns are taking part the industrial side is being stressed 1 there will be displays of the work of Washingtons foremost painter and i sculptors as well The Public library will have exhibit uh will the an 0 e Play grounds Department and the various branches of the military service i Special Programs There will be interesting enter tainment programs nightly Concerts have been arranged by the Army Navy and Marine band Thompson will give a program Lout songs each day Amplifier of will carry the music to all parts of the Auditorium Nine pecial nughts have been designated beginning with Marine Night tonight

district of columbia↗

Image 6 of Daily Kennebec journal (Augusta, Me.), July 10, 1916

daily KENNEBEC JOURNAL Entered at the Augusta Post Office a iSecond class mall matter ESTABLISHED 1825 Kaaotlee whatever will be taken of unsigned communications The Journal cannot be held responsi ble for the preservation or return of rejected communications Address all communications relating to subscriptions and advertisements to Kennebec Journal Company Publishers Augusta Maine Monday July 10 1916 Republican Nominations FOR PRESIDENT CHARLES EVANS HUGHES VICE PRESIDENT CHARLES W FAIRBANKS GOVERNOR CARL E MILLIKEN U S SENATOR Frederick Hale REPRESENTATIVES TO CON GRESS 1st DistLouis B Goodall 2nd DistWallace H White Jr 3rd DistJohn A Peters 4th DistFrank E Guernsey STATE AUDITOR Roy L Ward well A Misguided Friend Editor Kennebec Journal The Journal editorial of June 27 entitled the Right Course at Last has been read with considerable surprise by a wide circle of manufacturers and railroad men The editorial in question claims to reflect the publicity attitude of the newspapers to ward American industry In the present wage controversy between the railroads and the brotherhoods for example you say no safe dependence can be placed on the claims of either side and in the public interests you think the contestants that is to say these conflicting and unre

united states↗