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Northwest Missouri State University - OTH 102 - Class Notes - Week 10

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Northwest Missouri State University - OTH 102 - Class Notes - Week 10

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background image CHAPTER 8 THE EMERGENCE OF A MARKET ECONOMY THE MARKET REVOLUTION 1. In the eighteenth century, most Americans were part of what was called a  local “household economy.”   a. They produced enough food, livestock, and clothing for their own  family’s needs or for barter with the neighbors. 2. Market Economy a. Large-scale manufacturing and commercial agriculture that emerged in America during the first half of the nineteenth century. b. Displacing much of the pre-market subsistence and barter-based  economy. c. Producing boom-and-bust cycles while raising the American standard  of living. TRANSPORTATION 1. Because of long travel times, many farm products could only be sold locally  before they spoiled. 2. An array of innovations in transportation knit together the expanding national market or goods and services. a. Larger horse-drawn wagons called Conestogas.
b. New roads
c. Canals
d. Steamboats
e. Railroads 
NEW ROADS 1. In 1795, the Wilderness Road was opened to wagon and stagecoach traffic. a. It was along the trail first blazed by Daniel Boone twenty years earlier. 2. The Philadelphia-Lancaster Turnpike was completed in 1794. a. A movement for graded and paved roads gathered momentum.
b. Using packed-packed down crushed stones.
WATER TRANSPORTATION 1. River steamboats, flatboats, and canal barges carried people and goods far  more cheaply than horse-drawn wagons. 2. The first steamboat appeared when Robert Fulton and Robert R. Livingston  sent the Clermont north up the Hudson River in 1807. 3. Two-way traffic was brought to the Mississippi Valley.  a. Steamboats created a transcontinental market and an agricultural  empire. 4. Erie Canal (1817) a. Most important and profitable of the many barge canals built in the  early nineteenth century. b. Connecting the Great Lakes to the Hudson River.
c. Conveying so much cargo that it made New York City the nation’s 
largest port.
background image RAILROADS 1. In 1825, the world’s first steam-powered railway began operating in England. a. The same year the Erie Canal was completed.
b. 1830, the US had only 23 miles of railroad track.
c. 1850, railroad coverage grew to 30,626 miles.
2. Railroads operated year round giving them an advantage over canals and dirt roads that changed with weather. a. Steam-powered vehicles that improved passenger transportation,  quickened western settlement, and enabled commercial agriculture in 
the nineteenth century.
OCEAN TRANSPORTATION 1. Clipper ships were the nineteenth-century equivalent of the supersonic  jetliner. a. Tall, slender ships favored over older merchant ships for their speed.
b. Ultimately gave way to steamships because clipper ships lacked cargo 
space. COMMUNICATIONS 1. Mail deliveries improved. a. Number of US post offices soared from 75 in 1790 to 28,498 in 1860. 2. The mass production of newspapers enabled by new steam-powered printing  presses reduced their cost from six cents to a penny each. 3. Telegraph System a. System of electronic communication invented by Samuel F. B. Morse.
b. Could transmit messages instantaneously across great distances.
THE ROLE OF GOVERNMENT 1. The dramatic transportation improvements were financed by both state  governments and private investors. a. Virtually all the railroads in the US were built by private companies and investors rather than by the national government. 2. By 1860, Congress had given railroad companies more than 20 million acres  of federal lands. THE INDUSTRIAL REVOLUTION 1. Mass Production a. Companies used new technologies to produce much greater quantities  of products.  i. Machine tools. b. Could be sold at lower prices while generating higher profits. 2. Sparked an industrial revolution in Europe and America. a. The application of water-powered mills and coal powered steam  engines. 2
background image b. The application of new technologies to make manufacturing more  efficient. 3. Industrial Revolution a. Major shift in the nineteenth century from hand-made manufacturing  to mass production in mills and factories using water, coal, and steam 
powered machinery. 
AMERICAN TECHNOLOGY 1. Between 1790 and 1811, the US Patent Office approved an annual average of 77 new patents certifying new inventions. a. By the 1850s, the Patent Office was approving more than 28k new  inventions each year. 2. Many inventions generated dramatic changes. a. 1844, Charles Goodyear, patented vulcanizing rubber.
b. 1846, Elias Howe, patented the sewing machine.
i. Improved by Isaac Merritt Singer, Singer Sewing Machine  Company. 3. Technological advances helped improve living conditions. a. Sewer systems. 4. Mechanization of factories meant more goods could be produced faster with  less labor. a. Standardized parts 5. Eli Whitney invented the Cotton Gin. a. Hand-operated machine that quickly removed seeds from cottons bolls.
b. Enabled the mass production of cotton in nineteenth-century America.
COTTON 1. Southern-grown cotton became the dominant force driving the national  economy. a. Controversial efforts to expand slavery into the western territories. 2. Cotton was a more comfortable fabric. a. Until the cotton gin was invented, the cost to produce was expensive. 3. The spread of textile mills in in Britain and Europe created a rapidly growing  global market for cotton. 4. 1860, British textile mills were processing a billion pounds of cotton a year. a. 92% from the American South. 5. 1830-1860, cotton accounted for more than half of American exports. THE EXPANSION OF SLAVERY 1. With the invention of the cotton gin, the demand for cotton increased. a. Southerners used lots of slaves to plant the fields and pick the cotton.
b. The price of slaves soared with the price of cotton.
2. 1790, planters in Virginia and Maryland had owned 56% of all the slaves in  the US. a. 1860, they owned 15%. 3. Slaves became so valuable that stealing slaves became a common problem  in the southern states. FARMING THE WEST 3

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School: Northwest Missouri State University
Department: OTHER
Course: US History to 1877
Professor: Ford
Term: Fall 2016
Tags: history, United, States, market, and economy
Name: Chapter 8 Notes
Description: Chapter 8 Notes Book Notes The Emergence of a Market Economy
Uploaded: 11/04/2016
7 Pages 35 Views 28 Unlocks
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