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The Market Revolution

The Market Revolution. What improvements help the US economy?. Market Revolution is when Americans were buying and selling goods rather than making products for themselves/importing US Economy on the rise due to Free Enterprise

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The Market Revolution

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  1. The Market Revolution What improvements help the US economy?

  2. Market Revolution is when Americans were buying and selling goods rather than making products for themselves/importing US Economy on the rise due to Free Enterprise Entrepreneurs invested their own money in new business ventures, huge risks but big payouts Modernizing America Transportation Improvements • 1790-1820 “Turnpike Era” nearly 2400 mi. of road connected most major cities

  3. Erie Canal completed in 1825, connects Albany to Buffalo, allowing access from Atlantic Ocean to Great Lakes • .

  4. Fulton’s steamboat makes travel by water easier & faster • Railroads make moving around the country easier

  5. Agricultural Improvements • Eli Whitney’s cotton gin (1793) • Cyrus McCormick’s Mechanical Reaper(1831) • John Deere’s Steel Plow (1837)

  6. Communication Improvements • Samuel Morse’s Telegraph (1840)

  7. The Textile Industry • 1840: Elias & Singer invent the sewing machine • Textile mills (factories) start in Lowell, Mass • Use young girls for labor

  8. Lowell mills announce 15% wage cut, Mill girls organize a strike Many strikes failed due to immigrants who would take the job at cheaper wage Causes backlash against immigrants Rise of Unions • National Trade Union forms in 1834 • Many strikes ruled illegal but Mass. Supreme Court supported workers right to strike in Commonwealth v. Hunt

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