Which shows how the use of credit helped expand the US economy in the late 1700 and early 1800?

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2026-02-13 20:30

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The use of credit in the late 1700s and early 1800s facilitated economic expansion in the U.S. by enabling individuals and businesses to invest in land, goods, and infrastructure without the need for immediate capital. This access to credit spurred entrepreneurial ventures, such as the establishment of new farms and businesses, and supported the growth of transportation networks like roads and canals. Additionally, the creation of banks and financial institutions allowed for the pooling of resources, which further fueled economic development and commerce across the expanding nation. Ultimately, credit played a crucial role in promoting innovation and economic growth during this transformative period.

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