Beginning in the early to mid 1800’s the United States started to experience a flow of immigrants settling in the urban United States, and the rapid immigration went on to continue for the next few decades. The circulation of people and the Market Revolution had an enormous impact on the United States in various ways. These events during the nineteenth century brought many benefits to the American economy such as increased production of goods, the creation of new technologies, and higher employment rates. As a result, the United States economy experienced large growth during the urbanization of America, as well as during the Market Revolution.
For several consecutive decades in the nineteenth century, the large flow of immigrants that settled …show more content…
The “period of rapid development in the East and expansion in the West produced a wave of land speculation that resulted in economic periods of boom”(Boundless). The Market Revolution had a major impact on the United States that helped the country make its way to becoming a world power. Additionally, the Market Revolution boosted the US economy and increased the overall wealth of the country. Inventions such as the steam boat, sewing machine, and railroads were created during this time. The Market Revolution was influenced by the urbanized population who brought over ideas, and new ways of doing …show more content…
In 1800, the GDP of the United States was a little bit above 1,100 GDP per capita. However, by the year 1875, it had reached over 3,000 GDP per capita (Harvard University). During those several decades, several million immigrants came to America and the country experienced the Market Revolution. The effects of this were very evident, and the events completely changed the country by pushing the United States in the right direction. Also, as Henry Clay stated in a speech to the Senate, “This transformation of the condition of the country from gloom and distress to brightness and prosperity, has been mainly the work of… American industry”(Henry Clay). The change was very dramatic, and the economic improvement growth was exponential. The impact made by the immigrants, and later the Market Revolution immensely changed the future of the United States economy and aided its rise to a world
For several consecutive decades in the nineteenth century, the large flow of immigrants that settled …show more content…
The “period of rapid development in the East and expansion in the West produced a wave of land speculation that resulted in economic periods of boom”(Boundless). The Market Revolution had a major impact on the United States that helped the country make its way to becoming a world power. Additionally, the Market Revolution boosted the US economy and increased the overall wealth of the country. Inventions such as the steam boat, sewing machine, and railroads were created during this time. The Market Revolution was influenced by the urbanized population who brought over ideas, and new ways of doing …show more content…
In 1800, the GDP of the United States was a little bit above 1,100 GDP per capita. However, by the year 1875, it had reached over 3,000 GDP per capita (Harvard University). During those several decades, several million immigrants came to America and the country experienced the Market Revolution. The effects of this were very evident, and the events completely changed the country by pushing the United States in the right direction. Also, as Henry Clay stated in a speech to the Senate, “This transformation of the condition of the country from gloom and distress to brightness and prosperity, has been mainly the work of… American industry”(Henry Clay). The change was very dramatic, and the economic improvement growth was exponential. The impact made by the immigrants, and later the Market Revolution immensely changed the future of the United States economy and aided its rise to a world