1 / 8

THE MARKET REVOLUTION 1790-1830

THE MARKET REVOLUTION 1790-1830. THE RISE OF A MARKET ECONOMY. DUE TO CHANGES IN TRANSPORTATION A NEW ECONOMIC SYSTEM WILL DEVELOP FARM INCOME INCREASED BECAUSE TRANSPORTATION COSTS DECLINED 1800-1815 HOMES CONSUMED MOST OF WHAT THEY GREW

davis-deleon
Download Presentation

THE MARKET REVOLUTION 1790-1830

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. THE MARKET REVOLUTION 1790-1830

  2. THE RISE OF A MARKET ECONOMY • DUE TO CHANGES IN TRANSPORTATION A NEW ECONOMIC SYSTEM WILL DEVELOP • FARM INCOME INCREASED BECAUSE TRANSPORTATION COSTS DECLINED • 1800-1815 HOMES CONSUMED MOST OF WHAT THEY GREW • 1820’S BEGIN TO SEE FARM FAMILIES PRODUCE SOME GOODS FOR MARKET • MORE SETTLEMENT OUT WEST AS A RESULT OF TRANSPORTATION • 1800-40 AGRICULTURAL OUTPUT INCREASED ANNUALLY ABOUT 3% • BETTER TECHNOLOGY, IRON TOOLS, LED TO IMPROVED YIELDS • IMPROVED VARIETIES OF CROPS & LIVESTOCK • AVAILABILITY OF GOOD LAND

  3. WESTWARD EXPANSION – GO WEST YOUNG MAN • 1790 WEST WAS EAST OF APPALACHIANS • 1840 1/3 US POPULATION LIVED BETWEEN APPALACHIANS & MISS-ISSIPPI RIVER • MOVE AS FAMILIES, CREATE OWN CULTURE, LIFE HARD INITIALLY • SEE EAST AS CORRUPT & WEST AS HONEST & DEMOCRATIC • VERMONTVILLE, MI- INCREASED POWER OF FED GOV’T, RUTHLESS INDIAN REMOVAL, INCREASE IN AG PRICES POST 1812 • NEW STATES OUT OF LA PURCHASE

  4. THE DOMESTIC SYSTEMTO TRACE THE CHANGES FROM HOUSEHOLD MANUFACTURING TO FACTORIES BY LOOKING AT CIRCUMSTANCES THAT FORCED TECHNOLOGICAL CHANGE • 1800-1815 MANUFACTURING AT HOME FOR PERSONAL CONSUMPTION • IMPROVED TRANSPORT INCREASED FARM INCOME & STIMULATED COMMERCIAL AGRICULTURE • DOMESTIC SYSTEM CREATED CHANGE IN DISTRIBUTION • WORK DURING OFF SEASON • 1800-1840 AG OUTPUT INCREASED ANNUALLY ABOUT 3%

  5. TEXTILES AND THE FIRST FACTORIES • GREAT BRITAIN “WORKSHOP OF THE WORLD” • SIMPLE FACTORIES: PAWTUCKET, RI 1790, SAMUEL SLATER, SPUN COTTON INTO THREAD • F.C. LOWELL & BOSTON ASSOCIATES 1813 - CREATE WALTHAM SYSTEM • COMBINE OPERATION, PRODUCTION & MANAGEMENT IN CENTRAL LOCATION • THREAD INTO COTTON CLOTH

  6. THE WALTHAM SYSTEM & LOWELL MILL GIRLS • SOUTHERN NEW ENGLAND FIRST U.S. MAJOR MANUFACTURING CENTER • FACTORIES RUN ON WATER POWER • MID 1820’S – LOWELL GIRLS WORK IN FACTORIES • COMPARED TO EUROPE CONDITIONS RELATIVELY GOOD INITIALLY • AS VORACIOUS APPETITE FOR COTTON CLOTHING SKYROCKETS DEMANDS FOR PRODUCTION INCREASE, SO DOES PRESSURE TO PERFORM & CONDITIONS DETERIORATE • STRIKES 1834 & 1836

  7. KING COTTON • MOST IMPORTANT INDIRECT EFFECT OF INDUSTRIALIZATION OCCURRED IN THE SOUTH • INDUSTRY, TRANSPORTATION & IMPROVED AGRICULTURAL YIELDS LED TO SPECIALIZATION OF CROPS – COTTON • EXCHANGE NETWORK ENCOURAGED REGIONAL CONCENTRATION & DEVELOPMENT OF CREDIT & GROWTH OF BANKS (MORE LATER) • DEMAND FOR COTTON ASTRONOMICAL • COTTON GIN 1793 SOLIDIFIES SLAVERY IN THE SOUTH • 1820 ½ COTTON FROM ALA & MISS

  8. BLACK BELTS – SLAVERY MOVES WEST • ALABAMA FEVER • 1830 $50/ACRE; 2/3 AMERICAN EXPORTS – COTTON • COTTON STIMULATES REST OF ECONOMY • NORTH CONTROLS COTTON ONCE IT LEAVES PLANTATION & SOUTH RESENTS THENORTH – TENSION • MISSOURI COMPROMISE, PROPERTY RIGHTS, VIRGINIA SELLS 6K 1832 • SLAVE PRICES DOUBLE, INTERSTATE SLAVE TRADE FLOURISHES

More Related