Question

The Erie Canal was completed in 1825 and ran from Albany, New York, to Lake Erie. The main vessels used were canal barges. How did these barges impact economic markets and prices?

Answer 1

Answer:

increased trade, reduced food prices in eastern cities, allowed machinery and other bulky items to be economically shipped from east to mid-west, reduced travel time for passengers

Explanation:

Erie Canal connected Lake Erie and the Great Lake system to Hudson River. It granted direct access to Atlantic Ocean to western states of US without have to travel downstream on the Mississippi River to New Orleans first. It also made inland transportation much easier.

The Erie Canal reduced cost of shipping and increased trade. It eased passenger movement. It increased export of mid-western wheat to Britain.It increased trading between Canada and US.

Overall, canal brought significant economic advantage by increasing trade and reducing prices in New York.