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32 Cards in this Set
- Front
- Back
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who is chauncey jerome
what did he do |
new england clock maker.
invented wind up clock. became rich. joined partners and than business failed |
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what happened to the national market economy after the war of 1812
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began to develop
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how did the war of 1812 effect economics
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created economic expansion.. we made peace with erurope.. and they rusheed into the ULS to take advantage of new investment opportunities... the gov had to adopt policies to spur economic expansion
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who gained leadership after the war with britian.. what did they do
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Henry Clay, John C. Calhoun, John Quincy adams...
wanted to use federal power to promote development.. they advocated new nationalism.. set of policies made to help all regions grow |
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the national bank did what in 1811...
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closed its doors causing financial chaos
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most important spur to american economic development after 1815
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cotton trade
cotton gin |
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transportation revolution...
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needed to find quicker and cheaper ways of transportation to grow.. earrie canal was an act of faith but it made shipping a lot cheaper and created cities...later railroads came and soon surpassed canals in mileage. Rail rates were higher but twice as fast... so railroads soon dominated transportation but it started with the canals
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Revolution in communications..
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Samuel F. B . Morses telegraph like railroad for transportation... sped business information.. linked transportation.. enabled newspapers to provide readers with up to date news.. when robert hoe invented the telegraph it revolutionized journalism with the telegraph...
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Postal System
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had more laborers thn any other enterprise in country... brought producers and sellers seperated by distance in contact...
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Agriculture in the Market economy
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it became revolutionionized with communication and trains... farmers started producing more and learning easier ways to produce more crops..then they started specializing in crops based on thier region.. whichever made them the most money
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John Marshall and the promotion of Enterprise
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John marshall led the supreme court and they became the branch of the federal government most aggressive in protecting the new forms of business central to the growing market economy
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McCulloch v Maryland
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upheld constitutionality of 2 bank of the US.. marshall argued that Congress had the power to make all necessary and proper laws to carry out its delegated powers
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Gibbons v Ogden
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gave Marshall a chance to have power over interstate commerence
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Fetcher v Peck
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Land grant that was given.. marshall said that it was a contract so legislature could not interfere with grant
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Dartmouth College v Woodward
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alter colleges charter... Court said that the state charters were also contracts and could not be altered
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Poputlation Growth
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continued to double every 22 years...due to births and immigration
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Restless movement west
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went to west looking for land to make money...depression sent people in a frenzy.. gov made people pay with cash instead of credit .. people just kept moving looking for opportunity.. 50 of people didnt live in the place they were born
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Urbanization
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four decades after 1820.. fastest rate of ubanization in american history...south was lest urbanized.. all the advancements in economy and the growing market caused it
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technological advances
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when from apprentices to factories ran by unskilled workers...kept taking new inventions and making them better..started trying to get the quickest assembly of product
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Textile factories...
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English Textile factories in Lowell Mass.. seemed to be more fatherly.. employed daughters of New England farm families and they were allowed to attend lectures and use the library...woman worked 12 hours a day 6 days a week and created a sistership bond and made good money...slowly switched from women to men that needed jobs.. irish immigrants
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Lowell and the Environment
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lowell was the textile city..started making damn to get more power to fuel their increasing factories...the big damn created bad things like waste.. dead fish.. flooding mills.. it turned into a known unhealthy city
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Industrial work
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people used to learn apprentanship from their masters.. now factories changed that ... people used to think they could work their way up in their trade and own their own business.. that was not possible anymore
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The Labor Movement..
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Craftworkers such as carpenters, printers and tailors formed unions, and they turned into the national trade union..the unions didnt like the long hours and small pay..fought for more rights as workers..after Panic of 1837 labors strenghth collased they couldnt strike because they needed their jobs..
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Sam Patch and a workers Art
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waterfall jumper that jumped into a Passaic Falls private park where the owner charged people to get in..he lept in niagra falls twice and then drowned on a different jump
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mountain men
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men that went around the mountains with tomohawks and pistols.. became a romantic symbol of the american quest for individual freedom
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Economic Specialization
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factories started specializing in certain products.. like shoes.. farmers would specialiaze in crops
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materialism
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Everybody began only caring about money which shocked European visitors...everybody wanted respect
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wealth and the Emerging middle Class
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specialazation in products increased the reign of the middle class..people with salaries started distinguishing themselves as the middle class and getting more benefits..as the middle class became wealthier they started consuming more.. which spread material goods... they started to segregate cities..the rich would get richer by investing their captial in new inventions..
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Social mobility
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movement of one class to another.. few people really moved up in ranks..especially from lower to middle
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A new sensitivity to time
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time started effecting businesses greatly.. work began at the sound of a bell.. workers kept machines going at a a constant pace.. day was divided into hours and even minutes..more private families owned clocks
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business cycle
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the economy kept rising then depressing than rising than depressing.. people kept getting scared of the next depression
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Panic of 1819
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price of cotton collapsed and took the rest of economy with it...economy went down and so did demand...war between other countries caused demand for americans goods to drops... americans blamed gov policies
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