August 20, 2024 What were the first fortunes made in the 13 colonies? The first fortunes made in the 13 American colonies were primarily derived from agriculture, real estate development, and commercial trade. There was also some banking, manufacturing, and of course, political influence. 1. Agriculture: Tobacco: Tobacco was the most profitable crop in the Southern colonies, particularly in Virginia and Maryland. Planters like the Carter family and William Byrd of Virginia amassed significant wealth by cultivating tobacco on large plantations. Rice and Indigo: In South Carolina and Georgia, rice and indigo were major cash crops. Wealthy planters like Henry Laurens of South Carolina became extremely prosperous from rice cultivation. Timber: The timber industry led to fortunes due to the abundance of trees, which provided building materials for buildings and ships. The colonies' forests provided a seemingly endless supply of building materials for the growing number of colonis...
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