It is MOST LIKELY due to dependence on cotton farming.
Before the civil war, the economy of the southern states depend primarily on agriculture, particularly cotton farming.
The southern states were not interested in diversifying the economy because they were making huge profits from growing cotton.
When the white settlers moved to the American south, they found out that the area has a very fertile land which can be good for growing cotton; therefore, they embarked on cotton farming.
Also, the invention of the cotton gin by Eli Whitney contributed greatly to the cotton industry so much that it made the process of removing seed and hunks from cotton fiber very easy, unlike before, when they are used to picking cotton fibers by hand.
One of the factors that made cotton so profitable in the southern states was cheap labor as the works were performed by slaves.
Also, the cotton industry experienced a major boost during the early 19th century which led to an increase in the number of slaves in America.
Therefore, the relative absence of enterprises engaged in manufacturing and finance before the Civil War in the Southern states is MOST LIKELY due to dependence on cotton farming.
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