PREVIEW

... g.”

The Vermont territory, being a major city, certainly had a large market. However, upon closer inspection, it seemed sparse, with few customers and shops compared to its size. Even with the pressure of taxes lifted, there should be some economic breathing room—so why was it like this?

The answer was “fear.”

While taxes had decreased for now, there was a looming fear of when they might be raised again. This fear stifled consumption, causing people to hoard their money. ...

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