During the late 1700’s, the United States was no longer a possession of Britain, instead it was a market for industrial goods and the world’s major source for tobacco, cotton, and other agricultural products. A labor revolution started to occur in the United States throughout the early 1800’s. There was a shift from an agricultural economy to an industrial market system. After the War of 1812, the domestic marketplace changed due to the strong pressure of social and economic forces. Major innovations in transportation allowed the movement of information, people, and merchandise. Textile mills and factories became an important base for jobs, especially for women. There was also widespread economic growth during this time period (Roark, 260). The market revolution brought about economic growth through new modes of transportation, an abundance of natural resources, factory production, and banking and legal practices. Transportation was a large factor in the market revolution. During the years of 1815 and 1840, there were many forms of improved transportation. Roads, steamboats, canals, and railroads lowered the cost and shortened the time of travel. By making these improvements, products could be shipped into other areas for profit (Roark, 260). Steamboats set off a huge industry and by 1830, more than 700 steamboats were in operating up and down the Ohio and Mississippi River (Roark, 261). Steamboats also had some flaws, due to the fact of deforesting the paths along the rivers. Wood was needed to refuel the power to the boat. The carbon emissions from the steamboats polluted the air (Roark, 261). The building of roads was a major connecting point for states. There were some arguments of who would pay for... ... middle of paper ... ...on to its peak. Transportation advances began a unification process across the country both economically and culturally (Roark, 262). The United States finally started to take advantage of the natural resources of the land to benefit the economy. By having water powered equipment, the growth of factories mushroomed, but at the same time, caused a great issue with working conditions and the employment of women. Financing new ventures became an important facet during the market revolution. America’s money supply grew considerably, which led to increased investment opportunities. The market revolution was a fast-paced time for the United States and it introduced a larger scale of the distribution of goods. Works Cited Roark, James L. et al., eds. The American Promise: A Compact, Vol. I: To 1877. 3rd edition. Boston and New York: Bedford/St. Martin’s, 2007.
The Market Revolution can be defined as the economic transformation that took place in America during
The developments in transportation changed the American economy and society from 1820 to 1860 in ways of an increased land value, faster traded goods, new cities, and a deeper sense of nationalism. Before these changes came about, the US economy and society was based on an agrarian setting. After this time frame, American Society turned into a capitalist marketplace. In the northern US, there were few changes in terms of industry because they were involved in an industrial revolution. However, the new Transportation Revolution blasted the West into an agricultural empire that provided consumable exports to the other parts of the country.
Roark, James L., Michael P. Johnson, Patricia C. Cohen, Sarah Stage, and Susan M. Hartmann. The American Promise: A History of the United States. 5th ed. Vol. 2. Boston: Bedford/St. Martin's, 2009. Print.
In the first half of the nineteenth century, the Market Revolution was famous in America. It was an economic revolution marked by industrialization, improvements in transportation, and expansion. People had difficulties selling their production because of the poor transportation and many family lived in the self-sufficient mode. However, this problem was solved because of the invention of the steamboat,
The market revolution was a time of change, liberation, growth, and of course American ingenuity. This new kind of revolution brought about many changes in the lives of Americans everywhere. New technology from the steamboat to the telegraph connected the country in a new way. The emergence of factories (and the factory system) brought the growth of commerce, specialization of products, and many jobs to a rapidly growing nation. The market revolution benefited our country by impacting the social groups of the slaves and the middle class, generating a change in laws of the economy and warranting the redefining of freedom.
After World War I, economy shot up causing historians to call the 1920s the second industrial revolution.' The economy of the 1920's was a key change as it brought about new mass production, mass consumption, and set the stage for the ever-looming Great Depression. The 1920's saw a great boom in mass production which allowed for cheaper prices of technology products. This decade was marked by an enormous expansion of consumer credit, where Americans were used to finance purchases of new products such as the growing popularity of cars and radios, which were created by the mass production. The automobile, movie, radio, and chemical industries skyrocketed during this decade-one of the most important was the automobile industry. As mass-produced automobiles were churned in by Henry Ford, about 1.9 million cars had been sold by the end of 1929. The economy of the automobile society had a great impact on not only business, but also society. Henry Ford, who had revolutionized the new workers day and the concept of mass-production, had indirectly affected how Americans lived and behaved. Cars promoted other markets to grow, such as steel, rubber, glass, and petroleum. It also promoted urban and suburban growth, where a new class of Americans was rising. Now, citizens could drive to new places, meet new people, act differently etc The speed with which the products of mass production diffused through America was astonishing: not just automobiles but also washing machines, refrigerators, electric irons, electric and gas stoves--a whole host of inventions and technologies that greatly transformed that part of economic life that takes place within the household. However, this changing and rising American economy cause called one major consequence. For one of the major consequences of mass production was the building-up of the stock of capital goods for within-the-home production. And this of course, was the biggest key change because it seemed like the rising stock market and industry of the 1920s would stay forever. This rising stock market led to the Great Depression a downward spiral of economic depression.
After the improvements made by the American System facilitated the Market Revolution in America. The Market Revolution was made up of; transportation and communication, transitioning to commercial farming and industrialization (Schultz, 2013). This opened many doors for the American people and led to the change of how America does business.
Travel by land and water was both tedious and expensive. Transporting one ton of goods across states would cost around 100 dollars or 1,265 dollars in today’s money. In the 1790s, land routes connecting the east coast and the farther western regions of the United States were undeveloped. Along with this, when weather conditions were poor land routes could not support any sort of dependable shipping by wagon, or even travel by horseback. Natural waterways provided the most dependable method of transport west of Albany. Even travel by waterway in this time period was inconvenient because these water routes were unreliable due to shallow water and raging rapids.
Roark, J. L., Johnson, M. P., Cohen, P. C., Stage, S., Lawson, A., & Hartmann, S. M. (2009). The American promise: A history of the United States (4th ed., Vol. 1). Boston: Bedford/St. Martin’s.
With ambitious social endeavors comes a flourish of advancement of technology and terminology that changes society, individuals, and the freedom that coexists between them, but change is never far off from where it roots from. The market revolution was a period of many innovations within America that had helped with westward expansion through innovations contributed to long distance communication, transportation, and manufacturing in which such advancements have never been seen before. These innovations have changed terms, freedoms, and fundamentally the economy at large.
The market Revolution brought many changes, six of them were significant.The growth of the Cities was one change. The expansion of markets and the growth of the factories brought a slow urbanization. 5% of Americans lived in towns of less than 8,000 in 1830. That number triple to 16 percent in 1850. In 1840 the largest city in the nation had a population of 300,000. This was New York City (Schultz, 2013).
The market revolution changed the lives of every American in the country. Through social and economic growth caused by the revolution, everyone was impacted. The market revolution during the 19th century produced new technology and communications for the country, like railroads and telegraphs. It made people start working by the clock, rather than the sun, and also made Americans start working for wages. The market revolution brought the American community together. Before every family had their own businesses but, now Americans are working together for the benefit of the country. By doing so, they are providing a better opportunity for women like myself, Elizabeth Williams.
The Market Revolution transformed various aspects of American society because of the development of new inventions, ideologies, and lifestyles. From 1790 to 1840, the improvement of national transportation methods, the commercialization of the American market system, and the beginning of industrialization fostered the Market Revolution and affected the country economically, socially, and even religiously. The Industrial Revolution occurred in Western European countries such as France, England and Germany beginning in 1760 and completely altered the European market, workplace, and society by the time the inventions and technological ideas diffused into the United States. In 1791, Alexander Hamilton expressed “the necessity of enlarging the sphere of our domestic commerce”1 and therefore supported and funded American industries. With the help of the government, the Market Revolution initiated the expansion of the marketplace due to the connection of distant communities, such as western cities with seaboard cities, for the first time due to the advances in infrastructure. This would cause the shift away from local and regional markets to national and international markets abroad. The Market Revolution changed aspects of American life such as labor, transportation, commercialization, family life, new values produced by evangelical religion, sentimentalism, and transcendentalism, and the birth of the new middle class from 1790 to 1840.
The Industrial Revolution was a period from the 18th to the 19th century where major changes in agriculture, manufacturing, transport, and technology had a profound effect in North America. The industrial revolution marked a major turning point in history because it changed every aspect of life in America and the country as a whole. People started replacing ploughs and other tools for machines that could do twice the work. While others moved to large cities and started working in factories and other businesses. Huge industries such as the textile, steel, and coal industry came out and had a profound effect on the industrial revolution but, they would not have been extremely successful if it was not for railroads. The railroads played a vital role in the development and success of other industries. The railroads triggered the biggest leap in transportation in history. Through technological and entrepreneurial innovations and the creation of steam-powered locomotives, the development of trains as public carriers of passengers and freight, brought forth the railroad. The railroad industry changed the nature of production because it became an important energy source that replaced human and animal power. Due to the important role of the railroads, workers became more productive, items were being shipped more quickly, and resources were becoming available to everyone including the working and middle class and not only the wealthy. The railroads became to be known as one of the biggest leaps of transportation in history. This is because it set up the next fifty years of America’s prosperity. The railroads became extremely popular and useful during the 1800’s to millions of people and other large companies. Although there were many indu...
The first half of the 19th century witnessed a huge economic transformation—the Market Revolution—initiated by rapid development in multiple domains in the United Stated. The most decisive driving force was, first of all, the invention of the cotton gin processing machine which easily separated cotton and accelerated cotton production. Meanwhile, transportation revolution such as the emergence of steamboat and railroad conveniently connected the different regions for the exchange and complement of different goods. The development of bank and credit system also promoted the Market Revolution by providing support to farmers to purchase cultivated land (Takaki 76). Although the Market Revolution created interdependent economic structure and boosted