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The Market Revolution

The Market Revolution. John Sacher University of Central Florida jsacher@mail.ucf.edu. Democratic v. Whig Ideas. Do not welcome economic and social change (or at least don’t believe government should aid this change.) Welcome & encourage economic and social change.

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The Market Revolution

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  1. The Market Revolution John Sacher University of Central Florida jsacher@mail.ucf.edu

  2. Democratic v. Whig Ideas Do not welcome economic and social change (or at least don’t believe government should aid this change.) Welcome & encourage economic and social change.

  3. Characteristics of Market Revolution 1. Creation of a national market. 2. Increase in concentrations of economic activities. 3. Increase in mobility of capital, goods, and labor. 4. Innovations in government and legal systems, and political & social conflict between market oriented & market resistant groups.

  4. Roads

  5. The National Road

  6. Our Traveler, Cincinnati to NY

  7. Flatboat

  8. Erie Canal • TRT The 8th Wonder of the World

  9. Northern Canals

  10. Railroads

  11. Travel TimeCincinnati to New York • 52 Days • 18 Days • 7 Days Total travel time decreases 86%. Cost decrease—95%-land, 75% downriver, 90% upriver.

  12. The Telegraph Samuel F.B. Morse “What Hath God Wrought.”

  13. Americans “were more ready to seek six columns of the details of a brutal murder, or the testimony of a divorce case, or the trial of a divine for improprieties of conduct , than the same amount of words poured forth by the genius of the noblest author of our times.” James Gordon Bennett, editor of the New York Herald

  14. Land—Subsistence Plus Agriculture

  15. Fall Line • A Mill

  16. Urban Growth • In 1820, 12 cities over 10,000 2 cities over 100,000 7.2% population in “urban” areas • In 1860, 101 cities over 10,000 8 cities over 100,000 19.8% population in “urban” areas

  17. Urban Areas, 1820-1860

  18. Lowell Mills

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