* Industrialized and urbanized
* Manufacturing was the main industry, with a focus on textiles, clothing, and iron production
* Well-developed transportation infrastructure, including canals and railroads
* A large and growing population of free workers, including immigrants from Europe
* A banking system that facilitated economic growth
The South:
* Agricultural economy, with a focus on cotton, tobacco, and rice
* Plantation system of agriculture, with a large population of enslaved workers
* Limited transportation infrastructure, with few roads and railroads
* A small and stagnant white population, with a small number of wealthy plantation owners and a large population of poor white farmers
* A limited banking system that did not facilitate economic growth