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The Market Revolution. 1820-1860. What are we talking about?. Major economic transformation Expansion of people producing for the market Changing WHAT they are producing and HOW they are producing Completely new mindset  REVOLUTIONARY!!. Factors Leading to the Market Revolution.

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Presentation Transcript
what are we talking about
What are we talking about?
  • Major economic transformation
  • Expansion of people producing for the market
    • Changing WHAT they are producing and HOW they are producing
  • Completely new mindset  REVOLUTIONARY!!
factors leading to the market revolution
Factors Leading to the Market Revolution
  • Specialization of Labor
  • Early Industrialization
  • Transportation & Communication Revolution
  • Westward Expansion
  • Rise of the Cotton Kingdom
  • Immigration & Migration
  • Government Support for Business
specialization of labor
Specialization of Labor
  • What is “outwork”?
  • What is the “factory system”?
  • Lowell/Waltham Mills
early industrialization
Early Industrialization
  • Begins in England as early as 1780s
  • Really underway in US by 1790s, but doesn’t really start to grow until early 1800s
  • MECHANIZATION
  • STANDARDIZATION
  • INTERCHANGABLE PARTS
slide15

Lowell Girls

What was their typical “profile?”

slide16

Lowell Boarding Houses

What was boardinghouse life like?

slide17

Eli Whitney’s Cotton Gin, 1791

Actually invented by a slave!

slide18

Eli Whitney’s Gun Factory

Interchangeable Parts Rifle

slide19

Elias Howe & Isaac Singer

1840sSewing Machine

slide24

Conestoga Covered Wagons

Conestoga Trail, 1820s

slide26

Erie Canal, 1820s

Begun in 1817; completed in 1825

slide31

OliverEvans

First automated flour mill

First prototype of the locomotive

slide32

The “Iron Horse” Wins! (1830)

1830  13 miles of track built by Baltimore & Ohio RRBy 1850  9000 mi. of RR track [1860  31,000 mi.]

slide33

TheRailroadRevolution,1850s

  • Immigrant laborbuilt the No. RRs.
  • Slave laborbuilt the So. RRs.
slide34

Samuel F. B. Morse

1840 – Telegraph

westward expansion
Westward Expansion
  • Doors opened by removal of Indians & new transportation, communication
  • Streams of migration
    • From lower south
    • From upper south
    • From New England
  • Opens up access to new resources
  • Cheap land huge pull factors for immigrants
rise of the cotton kingdom
Rise of the Cotton Kingdom
  • Contributing factors:
    • Industrial demand for cotton (1st in UK, then in US)
    • Opening of Deep South to new settlement
  • Some consequences:
    • Further pushes regional economic specialization
    • Revitalizes slavery
    • Growth of domestic slave trade
slide38

Eli Whitney’s Cotton Gin, 1791

Actually invented by a slave!

immigration migration
Immigration & Migration

Immigration

1840s – Irish

1850s -- German

  • Pull factors
    • Relatively cheap land
    • Access to jobs
    • Quicker long-distance travel
    • Political freedoms
  • Push factors
    • Political unrest
    • Famine
    • Lack of economic opportunity

Internal Migration

Gradual shift from countryside to cities

People in cities moved more frequently

government support for business
Government Support for Business
  • Gov’t NOT actively involved in economy
  • Laissez-faire policies mostly
  • BUT
    • Development of private corporations
    • Severely limited gov’t investment in business
    • State gov’ts active in improving transportation infrastructure
    • Support competition & private property (court cases)
    • Criminalize strikes (supportive of employers)
    • Protective tariffs in 1816, 1824, 1828
slide42

Creating a Business-Friendly Climate

Supreme Court Rulings:*Fletcher v. Peck (1810)*Dartmouth v. Woodward (1819)*McCulloch v. Maryland (1819)*Gibbons v. Ogden (1824)*Charles Rivers Bridge v. Warren Bridge (1835)

General Incorporation Law  passed in New York, 1848.

Laissez faire  BUT, govt. did much to assist capitalism!

outcomes of these changes
Outcomes of these Changes
  • Rapid Economic Growth
  • Periods of Boom & Bust
  • Urbanization/Growth of Cities
  • Changes in Labor
  • Beginnings of Organized Labor
  • Rise of Nativism
  • Commercialization of farming in NW
  • Social/Cultural Responses
slide45

Regional Specialization

EAST Industrial

SOUTH Cotton & Slavery

WEST The Nation’s “Breadbasket”

slide47

Boom/Bust Cycles: 1790-1860

The blue line shows, for comparison, the price of a year’s tuition at Harvard College. In 1790 it was $24, but by 1860 had risen to $104.

changes in labor
Changes in Labor
  • Decline in artisan tradition
  • Workers have less autonomy over their labor
  • Subdivision of tasks
  • More supervision
  • Sharpening of line between work time & leisure time
  • Shift from labor’s “price” to labor’s “wage”
    • Some aversion to wage labor
    • Women at Lowell (replaced eventually by cheaper immigrant labor)
slide53

The Early Union Movement

Workingman’s Party (1829)* Founded by Robert Dale Owen and others in New York City.

Early unions were usually local, social, and weak.

Commonwealth v. Hunt(1842).

Worker political parties were ineffective until the post-Civil War period.

rise of nativism
Rise of Nativism
  • Part of ongoing story of anxiety over new groups of immigrants
  • Some fears of immigrants as “subversives”
    • Against democratic ideas
  • Anti-immigrant riots & political campaigns
slide57

Know-Nothing Party:

“The Supreme Order of the Star-Spangled Banner”

commercialization of farming in nw
Commercialization of Farming in NW
  • Beginning to think more about the market
  • More crop specialization
  • Pushed by growth of
    • Eastern markets
    • Transportation networks
    • Availability of credit
    • Improved farm machinery (esp. after 1840s)
slide62

Distribution of Wealth

  • During the American Revolution,45% of all wealth in the top 10% ofthe population.
  • 1845 Boston  top 4% owned over 65% of the wealth.
  • 1860 Philadelphia  top 1% owned over 50% of the wealth.
  • The gap between rich and poor was widening!
slide64

The “American Dream”

  • They all regarded material advance as the natural fruit of American republicanism & proof of the country’s virtue and promise.

A German visitor in the 1840s, Friedrich List, observed:

Anything new is quickly introduced here, including all of the latest inventions. There is no clinging to old ways. The moment an American hears the word “invention,” he pricks up his ears.

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