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Economic Beginnings in the United States PowerPoint Presentation
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Economic Beginnings in the United States

Economic Beginnings in the United States

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Economic Beginnings in the United States

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  1. Economic Beginnings in the United States A Future of Improvement

  2. Industrial Revolution • Started in Great Britain in Mid to Late 1700s • Major change in economy due to increased use of machines powered by sources other than humans and animals • This is not one event, one process or especially not one invention • Great Britain guarded their new technology closely • No one who knew the designs of any machines or structures could emigrate to another country

  3. Industrial Revolution Overview • Three Main Aspects • Textile Industry

  4. Textile Industry • Samuel Slater • Worked in British cotton spinning mill • Memorized all the design plans • Left for America, secretly, to make fortunes • Found financial backing and built first American factory in 1793 • Built machinery for spinning cotton faster

  5. Textile Industry • Eli Whitney • In 1793, produced the “Cotton Gin” • Separated the cotton fibers from the seeds • Allowed for one man to clean ten times the amount; 1 pound without - 1,000 pounds with • Profits exploded for both cotton and the gin • This increased the demand for both labor and land

  6. Industrial Revolution Overview • Three Main Aspects • Textile Industry • Transportation Industry

  7. Transportation Industry • Transportation started to boom with invention of the steam engine • Although it helped other industries, it revolutionized transportation • Driven by steam, powered by coal or wood • Dozens of steamboats were traveling on the rivers and canals by the 1820s

  8. Transportation Industry • In the 1830s, inventors were creating steam powered locomotives • Even though railroad boosters had opposition, by the 1840s, railroads were becoming part of the U.S. future

  9. Industrial Revolution Overview • Three Main Aspects • Textile Industry • Transportation Industry • Communication Industry

  10. Communications Industry • The federal government oversaw the most important improvement in this field • Post Offices: Delivering written words • Only 75 existed by 1790 • Increased to 8,450 by 1830 • Consistent delivery of mail made communicating long distances much easier

  11. Communications Industry • Mail carried newspapers, magazines and books to the masses • Newspapers alone extended the lines of communication • People could learn about events from this mode of communication

  12. Market Revolution • Dramatic expansion of the market through the construction of roads and canals. • New mind-set adopted by producers in planning and distributing their goods • Before 1790: • Americans would make only goods they would use themselves; Self sufficient • After 1800: • Americans made decisions about what to produce, what to charge, and where to sell on the basis of "the market."