We use establishment-level data to study capital deepening -- increases in the capital-output ratio -- in American manufacturing from 1850 to 1880. In nominal terms, the aggregate capital-output ratio in our samples rose by 30 percent from 1850 to 1880. Growth in real terms was considerably...

This paper examines the performance of the Boston stock market, the nation's premier market for industrials, between 1835 and 1869, developing new indexes of price performance, dividend yields and total holding period returns for bank stocks and industrial equities using annual data from Martin...

We know remarkably little about the length of the working day before the 1880s. In this paper, we summarize what is known about the trend in the length of the workday in American manufacturing industry from 1830 to 1890. We than develop estimates of the daily hours of work and form the basis for...