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24 Cards in this Set

  • Front
  • Back
new nationalism
A set of economic policies designed to help all regions prosper and bind the nation more tightly together. These were increasingly advocated by the Republican party.
Henry Clay’s American System*
Clay domestic policy to spur economic growth which included a high tariff and better internal communications and transportation.
Second National Bank
Even Madison saw the need for economic growth and he helped out by signing the charter for the second national bank after the charter for the first one had run out.
Bonus Bill Veto 1817
Vetoed by Madison who believed that federal money could not be used locally, this bill was for the handing out of government funds to local communities for the building of roads and other means of transportation.
Eli Whitney’s cotton gin 1793
A mechanical device that allowed salves to clean 50 pounds of cotton a day rather than 1 by hand. This spurred the cotton trade.
Canal Age 1820-1840
Helped trade and was popular as another form of transportation. After seeing the initial success of canals, even more canals were built.
Erie Canal
Stretched 364 miles from Albany on the Hudson River to Buffalo on Lake Erie. This is an example of the amazingly quick advancements in transportation as no canal longer than 28 miles had ever been built before.
Robert Fulton’s Clermont 1807
His steamboat which demonstrated the commercial possibilities of propelling a boat with steam. Also added to quicker and cheaper transportation.
First railroads 1830s
Established mainly as feeder lines to larger canals, they soon caught on as a more expensive but quicker form of transportation.
Samuel F.B. Morse’s telegraph 1837
For the first time allowed for almost instantaneous communication. This spend up business information, helped transportation and enabled the press to provide people with up-to-date information.
mechanical press 1847
Increased the speed of newspaper and book printing and lowered the price to within the reach of ordinary families.
McCulloch v. Maryland 1819
In this case, the court held up the constitutionality of the second national bank since congress believed that this bank would help them fulfill their responsibilities. This followed Hamilton’s document of implied powers.
Gibbons v. Ogden 1824
This gave the federal government the power to regulated interstate trade. This resulted in an increased business competition throughout society.
Fletcher v. Peck 1810
This showed how far the protection of private property was going to go. It added the contrast clause forbidding states to interfere with the obligation of contracts.
Dartmouth v. Woodward 1819
Came out of the attempt of New Hampshire to alter the Colleges charter (Dartmouth’s) and ruled that state charters were contracts too. This protected corporations which conducted business under charters granted by individual states.
Samuel Slater
Built the first textile mile in the United States despite England’s attempts to protect their economic advantage by hiding these things from the Americans.
Eli Whitney’s system of interchangeable parts
Parts the would be interchangeable between items and mass produced making the items cheaper to make and much less expensive to maintain and fix.
Lowell system of manufacturing
Factories rather than depending on child labor or permanent working class, employed the daughters of New England farm families. The female workers lived in well kept company boardinghouses. This system was meant to avoid the misery that surrounded English factories. Although life in factories was still hard work and long hours it was better and better paid than in England.
mountain men
Men who lived in the mountains and became involved in the capitalist country, selling fur and beaver pelts. They like farmers sought respectability and used the West as a land of opportunity.
John Jacob Astor’s American Fur Co.
Example of a Western company taking advantage of the growing capitalist society and selling furs East and sometimes even to Europe.
The spread of the market made materialism in America much more evident. Since their was no landed upper class, wealth became the only important symbol of status.
social mobility
Social mobility was greater than across the sea in Europe but still had its limited. Most improved status came from a savings account or home ownership which gave workers more security during times of economic downswings and more ability to retire.
boom & bust business cycles
Although on average constantly growing the economy was not always moving up. It was boom upwards for a while and then crash into a recession (a bust). This made economic risks more risky, and it also tinged American optimism with insecurity and anxiety.
Panic of 1819
As the first major depression in the countries history, this led to more social tension between those with different economic interests and often led people to blame the government for their misfortune.