During the fiscal year ending 1 June 1860, the country possessed some 128,300 industrial establishments. Of these, 110,274 were located in states that remained in the Union. The most heavily industrialized states, New York and Pennsylvania, each had more industry than all the seceding states combined. In 1860, too, America had a total of $1,050,000,000 invested in real and personal property devoted to business, with $949,335,000 concentrated in the North; Pennsylvania, New York, and Massachusetts each had a larger investment than the South as a whole. Finally, the North contributed 92.5% of the $1.9 billion that comprised the total value of annual product in the country in 1860.
Meanwhile, the South had somewhere around $3,000,000,000 invested in human capital.