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Economic Beginnings in the United States

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

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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."

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