Internal improvements" was a nineteenth-century term referring to investment in transportationprojects such as roads, railroads, canals, harbors, and river navigation projects. These public works are an accepted responsibility of the modern state government, but in earlier times the concept of public funding for such projects was new and controversial. North Carolina was so isolated and poor in the early nineteenth century that it was derisively nicknamed the "Rip Van Winkle State." At alarming rates, emigrants fled its stagnant economy, worn-out farmland, poverty, and lack of opportunity. Among the state's greatest handicaps was inadequate transportation. Only a few rivers in the east were navigable, and even these were shallow and difficult to travel. The coast offered few good harbors, and roads, where they existed, were terrible. Under such conditions transportation was slow, inefficient, and so expensive that farmers could not afford to ship their produce more than a few miles.
Some state leaders, such as Governors Alexander Martin in 1791 and Nathaniel Alexander in 1806, asked the General Assembly for money to finance internal improvements. But many legislators and voters strongly opposed raising taxes or increasing government's involvement in internal improvements; for years, the state's role was limited to granting charters to private companies to operate toll bridges, canals, and navigation projects
The person with better evidence and reasoning
The correct answer is A) the boom-and-busty cycle of capitalism.
<em>A characteristic of the economic panics in the early 1800s was the boom-and-busty cycle of capitalism.
</em>
The international economy was declining, the domestic economy of the United States was expanding beyond control, cotton prices collapsed, the contrition of credit affected the market, farmers had to pay its loans which resulted in farm forclosures and some Banks went into bankrupcy. That is why a characteristic of the economic panics in the early 1800s was the boom-and-busty cycle of capitalism.
