What was the American economy like in the mid-1780's?

18th Century American EconomyIt was an agricultural economy. In the South it was based on slave labor. Industry was still small, many producers were still craft based, ie. the local smith. Trade with England was important and English capital was very important to develop industry.

18th century America wasn't as equal as in 17th century America, but the settlers in the New World were still far more prosperous than the average citizen in England. The southern colonies were based on plantations (Mainly tobacco), and the New England colonies were based on ship building, lumbering, etc. The New England colonies contained more of a "middle class" than the southern ones. The southerner's middle class were the small-time land-owning farmers.

.The AMERICAN economy in the 18th century was one stricken inflation and worthlessness. After America claimed independence and fought the Revolutionary War it was severely in debt. The major focus of the first administrations was regaining economic power such as Alexander Hamiltons Financial Program. Other countries around the world had a joke against American money of the time, the monetary unit was called a Continental and when they though something was worthless they said "It isn't worth a Continental".