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CHAPTER 8

The Market Revolution 1812-1845. CHAPTER 8. A Market Economy. SECTION 1. I. Analyze the ways in which the American economy changed in the early 1800s. A. An Expanding Economy 1) Market Revolution – change in the way people

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CHAPTER 8

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  1. The Market Revolution 1812-1845 CHAPTER 8

  2. A Market Economy SECTION 1

  3. I. Analyze the ways in which the American economy changed in the early 1800s. • A. An Expanding Economy • 1) Market Revolution – change in the way people made, bought, and sold goods • B. Rise of Manufacturing • 1) Manufacturing – use of machines to make products • 2) Francis Cabot Lowell led a group of businessmen who built a centralized textile factory in Massachusetts • 3) Centralized factory – all the tasks involved in making a product were carried out in one place • 4) Centralizing work dramatically increased production

  4. I. Analyze the ways in which the American economy changed in the early 1800s. • B. Rise of Manufacturing • 5) Free Enterprise System – economic setup in which companies compete for profits • a) also called capitalism • b) encouraged the creation of new industries, jobs, and wealth

  5. I. Analyze the ways in which the American economy changed in the early 1800s. • C. Working Outside the Home • 1) An increase in manufacturing led to work outside the home for a specific number of hours each day and for a certain amount of money • D. Rise of Shopping • 1) products became available and people worked for money • 2) Americans filled their homes with purchased items

  6. II. Describe how banks influenced the country’s economic growth. • A. Capital – wealth used to produce goods and make money • B. Rise of the Banking Industry • 1) Banks played a key role in American economic expansion by providing loans to businesses • 2) Bank Notes – paper money issued by banks • 3) Specie – coins made of gold or silver

  7. The Northern Section SECTION 2

  8. I. Trace the development of farming and industries in the North. • A. Sections – regions with distinct geographic, economic, and cultural differences – North and South • B. North • 1) Northeast - composed of New England and the Middle Colonies of New York, New Jersey, and Pennsylvania • 2) (Old) Northwest – north and west of the Ohio River – Ohio, Indiana, Illinois, Michigan, Wisconsin, and Minnesota

  9. I. Trace the development of farming and industries in the North. • C. Farming in the Northwest • 1) Grain and livestock farming was the main way of life in the Old Northwest – pork, beef, and beer • 2) People no longer raised their own food • D. Industries in the Northeast • 1) Urban – places made up mostly of one or more cities • 2) Population Density – the amount of people living within a given space • 3) Industrialization – growth of industry • a) Eli Whitney – cotton gin – interchangeable parts • b) mills hired mostly young single women

  10. II. Describe the growth of cities in the North. • A. In the early 1800s, the populations of cities in the Northeast increased sharply • B. Poor city-dwellers in the mid-1800s mostly lived in crowded, cheap housing known as tenements • C. Police and fire services in rapidly growing cities were limited

  11. III. Explain how labor disputes arose in northern factories. • A. Workers Go on Strike • 1) Strike – work stoppage • 2) Long hours and low wages caused the labor movement to begin to protest • B. The First Labor Unions • 1) Labor Union – an organization of workers formed to protect the interests of its members • 2) Wages and working conditions

  12. The Southern Section SECTION 3

  13. I. Compare the South’s economy to that of the North. • A. “King Cotton” • B. The United State’s most valuable export

  14. I. Compare the South’s economy to that of the North. • C. Economy of the South • 1) Delaware, Maryland, Virginia, Carolinas, Georgia, Kentucky, Alabama, Tennessee, Mississippi, Louisiana, and Arkansas • 2) Geography of South Farming • a) rural – made up of farms and countryside • b) 290 days to grow, fertile soil, and plentiful rain • c) the South remained agricultural largely because the physical geography made farming highly profitable • d) the economies of Virginia and North Carolina depended on tobacco • 3) Slow Urban Growth • a) Compared with cities in the North, Southern cities were fewer in number and smaller in population

  15. II. Compare slave life on small farms and large plantations. • A. After Congress banned the importation of slaves, the slave population increased dramatically • B. An enslaved person’s life on a large plantation would most likely have included a large community of African Americans • C. A typical slave owner might have described his slave as property

  16. III. Describe the slave revolts of the early 1800s. • A. Vesey’s Plan – like Gabriel Prosser – Denmark Vesey – his rebellion was smashed before it could get started in South Carolina • B. Turner’s Rebellion – Nat Turner – acted under what he believed was divine inspiration – local militia captured the rebels - Virginia • C. Failed slave rebellions in South Carolina and Virginia resulted in harsher slave laws

  17. The Growth of Nationalism SECTION 4

  18. I. Give examples of the rise of nationalism at home and abroad. • A. Nationalism at Home • 1) The Supreme Court under Chief Justice Marshall made several decisions that strengthened the federal government • 2) Supporting the National Bank • a) McCulloch v. Maryland – a ruling that Congress has the authority to charter a national bank • b) “Necessary and Proper” Elastic Clause • 3) Protecting Contracts • a) Dartmouth College v. Woodward – a statement that states cannot interfere in business contracts • 4) Regulating Commerce • a) Gibbons v. Ogden – a declaration that states cannot regulate commerce in • interstate transactions

  19. I. Give examples of the rise of nationalism at home and abroad. • B. Nationalism Abroad • 1) Monroe Doctrine – a warning to European governments to stay out of the Americas

  20. II. Describe why the election of 1824 was controversial. • A. Election of 1824 • 1) Both John C. Calhoun of South Carolina and Henry Clay of Kentucky were southern politicians. Andrew Jackson of Tennessee and John Q. Adams son of John Adams • 2) John C. Calhoun had been a representative, Sec. of War, Vice President for 2 Presidents, Sec. of State, and Senator – he supported nationalism

  21. II. Describe why the election of 1824 was controversial. • B. Controversial Race • 1) Calhoun – withdrew from the race • 2) Clay – a passionate orator – willing to make political deals to become President • 3) Jackson – was a “Man of the People”

  22. II. Describe why the election of 1824 was controversial. • C. The “Corrupt Bargain” • 1) Jackson won the most popular votes, but not the electoral vote • 2) House of Representatives decided the election • 3) Clay managed to persuade Kentucky to vote for Adams – John Q. Adams became President – Clay became Sec. of State • 4) Critics charged Adams and Clay had a corrupt bargain

  23. III. Compare the views of the National Republicans and the Jacksonian Democrats. • A. Adams as President – National Republicans • 1) Supported the federal power to strengthen the nation • a) build roads, bridges, universities, and other public improvements • b) encouraged America-made goods • 2) Jackson blocked Adams in Congress

  24. III. Compare the views of the National Republicans and the Jacksonian Democrats. • B. Election of 1828 • 1) Andrew Jackson found his greatest support among common people • 2) Jackson and his fellow Democrats tried to be true to Jefferson’s ideal of limited government • 3) The 1828 election was a referendum on the role of government in the economy • 4) Jackson won electoral vote 178 to Adam’s 83

  25. The Age of Jackson SECTION 5

  26. I. Describe the link between Jackson’s presidency and the expansion of democracy. • A. Jackson as President • 1) Jacksonian Democracy • 2) Spoils System • a) Patronage – government jobs given to friends and supporters of newly elected officials • b) Spoils System – patronage as practiced by Andrew Jackson • c) Jackson defended the spoils system by claiming that it prevented control of government by the rich • 3) Limited government • a) Jackson attacked corrupt laws that would limit people’s liberty

  27. II. Explain the crises over the tariff and Native Americans. • A. Tariff Crisis • 1) Tariff of 1828 – prior to Jackson, Congress passed an import tax that benefited Northerners at the expense of Southerners • 2) The Tariff of 1828 posed a serious challenge to federal authority when South Carolina declared the tariffs null and void • 3) South Carolina threatened to secede, or withdraw, from the Union if its nullification were not respected

  28. II. Explain the crises over the tariff and Native Americans. • B. Indian Relocation • 1) Five Civilized Tribes – Cherokee, Creeks, Chickasaw, Choctaw, Seminole • 2) Jackson responded to southern states’ taking control of Indian lands by encouraging the relocation of the Indians • 3) Indian Removal Act – law providing Native Americans land in the Louisiana Purchase in return for lands taken from them in the East • 4) Trail of Tears – journey of the Cherokee west from Georgia

  29. III. Summarize the battle over the Bank of the United States. • A. When Congress voted to extend the charter of the Bank of the United States, Jackson vetoed the bill • B. Jackson won re-election in 1832

  30. III. Summarize the battle over the Bank of the United States. • C. Jackson’s Successors • 1) Martin Van Buren elected in 1836 • 2) As a result of the depression during Van Buren’s presidency, William Henry Harrison won the presidency in 1840 • 3) William Henry Harrison died a month later due to pneumonia

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