One of the Important reasons for the 1836 Specie Circular was the uncontrolled land speculation in the West. Real estate speculation was funded by increased availability of credit from the Second Bank of the United States and new, reckless frontier banks
An oil embargo caused the US recession.
Answer:
Businesses needed workers as factories were being built. Employers could set wages as low as they wanted with a long line of people willing to work because people were willing to do work as long as they were paid. Six days a week, people worked fourteen to sixteen hours a day. However, the majority were unskilled workers who earned only $8-$10 per week while working for 10 cents an hour. Skilled workers made slightly more money, but not significantly more. Women were paid one-third to one-half of what men were paid. Children got even less. Owners who were only interested in making a profit were pleased because labor was less expensive.
Explanation:
To a particular factory, the answer may differ.
