![Page 1: CHAPTER 8 The Market Revolution 1812-1845. SECTION 1 A Market Economy](https://reader035.vdocument.in/reader035/viewer/2022062308/56649e0b5503460f94af382e/html5/thumbnails/1.jpg)
CHAPTER 8
The Market Revolution1812-1845
![Page 2: CHAPTER 8 The Market Revolution 1812-1845. SECTION 1 A Market Economy](https://reader035.vdocument.in/reader035/viewer/2022062308/56649e0b5503460f94af382e/html5/thumbnails/2.jpg)
SECTION 1
A Market Economy
![Page 3: CHAPTER 8 The Market Revolution 1812-1845. SECTION 1 A Market Economy](https://reader035.vdocument.in/reader035/viewer/2022062308/56649e0b5503460f94af382e/html5/thumbnails/3.jpg)
I. Analyze the ways in which the American economy changed in the early 1800s.
A. An Expanding Economy 1) Market Revolution – change in the way people made, bought, and sold goods
B. Rise of Manufacturing 1) Manufacturing – use of machines to make products 2) Francis Cabot Lowell led a group of businessmen who built a centralized textile factory in Massachusetts 3) Centralized factory – all the tasks involved in making a
product were carried out in one place 4) Centralizing work dramatically increased production
![Page 4: CHAPTER 8 The Market Revolution 1812-1845. SECTION 1 A Market Economy](https://reader035.vdocument.in/reader035/viewer/2022062308/56649e0b5503460f94af382e/html5/thumbnails/4.jpg)
I. Analyze the ways in which the American economy changed in the early 1800s.
B. Rise of Manufacturing
5) Free Enterprise System – economic setup in which
companies compete for profits
a) also called capitalism b) encouraged the creation of new industries,
jobs, and wealth
![Page 5: CHAPTER 8 The Market Revolution 1812-1845. SECTION 1 A Market Economy](https://reader035.vdocument.in/reader035/viewer/2022062308/56649e0b5503460f94af382e/html5/thumbnails/5.jpg)
I. Analyze the ways in which the American economy changed in the early 1800s.
C. Working Outside the Home• 1) An increase in manufacturing led to work outside the
home for a specific number of hours each day and for a certain
amount of money
D. Rise of Shopping• 1) products became available and people worked for money• 2) Americans filled their homes with purchased items
![Page 6: CHAPTER 8 The Market Revolution 1812-1845. SECTION 1 A Market Economy](https://reader035.vdocument.in/reader035/viewer/2022062308/56649e0b5503460f94af382e/html5/thumbnails/6.jpg)
II. Describe how banks influenced the country’s economic growth.
A. Capital – wealth used to produce goods and make money
B. Rise of the Banking Industry• 1) Banks played a key role in American economic expansion
by providing loans to businesses• 2) Bank Notes – paper money issued by banks• 3) Specie – coins made of gold or silver
![Page 7: CHAPTER 8 The Market Revolution 1812-1845. SECTION 1 A Market Economy](https://reader035.vdocument.in/reader035/viewer/2022062308/56649e0b5503460f94af382e/html5/thumbnails/7.jpg)
SECTION 2
The Northern Section
![Page 8: CHAPTER 8 The Market Revolution 1812-1845. SECTION 1 A Market Economy](https://reader035.vdocument.in/reader035/viewer/2022062308/56649e0b5503460f94af382e/html5/thumbnails/8.jpg)
I. Trace the development of farming and industries in the North.
A. Sections – regions with distinct geographic, economic, and cultural
differences – North and South
B. North 1) Northeast - composed of New England and the Middle
Colonies of New York, New Jersey, and Pennsylvania
2) (Old) Northwest – north and west of the Ohio River – Ohio, Indiana, Illinois, Michigan,
Wisconsin, and Minnesota
![Page 9: CHAPTER 8 The Market Revolution 1812-1845. SECTION 1 A Market Economy](https://reader035.vdocument.in/reader035/viewer/2022062308/56649e0b5503460f94af382e/html5/thumbnails/9.jpg)
I. Trace the development of farming and industries in the North.
C. Farming in the Northwest• 1) Grain and livestock farming was the main way of life in
the Old Northwest – pork, beef, and beer• 2) People no longer raised their own food
D. Industries in the Northeast 1) Urban – places made up mostly of one or more cities 2) Population Density – the amount of people living within a given space 3) Industrialization – growth of industry
a) Eli Whitney – cotton gin – interchangeable parts b) mills hired mostly young single women
![Page 10: CHAPTER 8 The Market Revolution 1812-1845. SECTION 1 A Market Economy](https://reader035.vdocument.in/reader035/viewer/2022062308/56649e0b5503460f94af382e/html5/thumbnails/10.jpg)
II. Describe the growth of cities in the North.
A. In the early 1800s, the populations of cities in
the Northeast increased sharply
B. Poor city-dwellers in the mid-1800s mostly lived
in crowded, cheap housing known as tenements
C. Police and fire services in rapidly growing cities
were limited
![Page 11: CHAPTER 8 The Market Revolution 1812-1845. SECTION 1 A Market Economy](https://reader035.vdocument.in/reader035/viewer/2022062308/56649e0b5503460f94af382e/html5/thumbnails/11.jpg)
III. Explain how labor disputes arose in northern factories.
A. Workers Go on Strike• 1) Strike – work stoppage• 2) Long hours and low wages caused the labor movement to
begin to protest
B. The First Labor Unions 1) Labor Union – an organization of workers formed to
protect the interests of its members 2) Wages and working conditions
![Page 12: CHAPTER 8 The Market Revolution 1812-1845. SECTION 1 A Market Economy](https://reader035.vdocument.in/reader035/viewer/2022062308/56649e0b5503460f94af382e/html5/thumbnails/12.jpg)
SECTION 3
The Southern Section
![Page 13: CHAPTER 8 The Market Revolution 1812-1845. SECTION 1 A Market Economy](https://reader035.vdocument.in/reader035/viewer/2022062308/56649e0b5503460f94af382e/html5/thumbnails/13.jpg)
I. Compare the South’s economy to that of the North.
A. “King Cotton”
B. The United State’s most valuable export
![Page 14: CHAPTER 8 The Market Revolution 1812-1845. SECTION 1 A Market Economy](https://reader035.vdocument.in/reader035/viewer/2022062308/56649e0b5503460f94af382e/html5/thumbnails/14.jpg)
I. Compare the South’s economy to that of the North.
C. Economy of the South• 1) Delaware, Maryland, Virginia, Carolinas, Georgia,
Kentucky, Alabama, Tennessee, Mississippi, Louisiana, and Arkansas
• 2) Geography of South Farming• a) rural – made up of farms and countryside• b) 290 days to grow, fertile soil, and plentiful rain• c) the South remained agricultural largely because the physical
geography made farming highly profitable• d) the economies of Virginia and North Carolina depended on tobacco
• 3) Slow Urban Growth • a) Compared with cities in the North, Southern cities were fewer in
number and smaller in population
![Page 15: CHAPTER 8 The Market Revolution 1812-1845. SECTION 1 A Market Economy](https://reader035.vdocument.in/reader035/viewer/2022062308/56649e0b5503460f94af382e/html5/thumbnails/15.jpg)
II. Compare slave life on small farms and large plantations.
A. After Congress banned the importation of slaves, the slave population increased dramatically
B. An enslaved person’s life on a large plantation
would most likely have included a large community of African Americans
C. A typical slave owner might have described his
slave as property
![Page 16: CHAPTER 8 The Market Revolution 1812-1845. SECTION 1 A Market Economy](https://reader035.vdocument.in/reader035/viewer/2022062308/56649e0b5503460f94af382e/html5/thumbnails/16.jpg)
III. Describe the slave revolts of the early 1800s.
A. Vesey’s Plan – like Gabriel Prosser – Denmark Vesey – his rebellion was smashed before it could get
started in South Carolina
B. Turner’s Rebellion – Nat Turner – acted under what he
believed was divine inspiration – local militia captured
the rebels - Virginia
C. Failed slave rebellions in South Carolina and Virginia resulted in harsher slave laws
![Page 17: CHAPTER 8 The Market Revolution 1812-1845. SECTION 1 A Market Economy](https://reader035.vdocument.in/reader035/viewer/2022062308/56649e0b5503460f94af382e/html5/thumbnails/17.jpg)
SECTION 4
The Growth of Nationalism
![Page 18: CHAPTER 8 The Market Revolution 1812-1845. SECTION 1 A Market Economy](https://reader035.vdocument.in/reader035/viewer/2022062308/56649e0b5503460f94af382e/html5/thumbnails/18.jpg)
I. Give examples of the rise of nationalism at home and abroad.
A. Nationalism at Home• 1) The Supreme Court under Chief Justice Marshall made
several decisions that strengthened the federal government
• 2) Supporting the National Bank• a) McCulloch v. Maryland – a ruling that Congress has the authority to charter a national bank• b) “Necessary and Proper” Elastic Clause
• 3) Protecting Contracts• a) Dartmouth College v. Woodward – a statement that states cannot interfere in business contracts
• 4) Regulating Commerce• a) Gibbons v. Ogden – a declaration that states cannot regulate
commerce in • interstate transactions
![Page 19: CHAPTER 8 The Market Revolution 1812-1845. SECTION 1 A Market Economy](https://reader035.vdocument.in/reader035/viewer/2022062308/56649e0b5503460f94af382e/html5/thumbnails/19.jpg)
I. Give examples of the rise of nationalism at home and abroad.
B. Nationalism Abroad
• 1) Monroe Doctrine – a warning to European governments to stay
out of the Americas
![Page 20: CHAPTER 8 The Market Revolution 1812-1845. SECTION 1 A Market Economy](https://reader035.vdocument.in/reader035/viewer/2022062308/56649e0b5503460f94af382e/html5/thumbnails/20.jpg)
II. Describe why the election of 1824 was controversial.
A. Election of 1824
• 1) Both John C. Calhoun of South Carolina and Henry Clay of Kentucky were southern politicians. Andrew Jackson of Tennessee and John Q. Adams son of John Adams
• 2) John C. Calhoun had been a representative, Sec. of War, Vice
President for 2 Presidents, Sec. of State, and Senator – he
supported nationalism
![Page 21: CHAPTER 8 The Market Revolution 1812-1845. SECTION 1 A Market Economy](https://reader035.vdocument.in/reader035/viewer/2022062308/56649e0b5503460f94af382e/html5/thumbnails/21.jpg)
II. Describe why the election of 1824 was controversial.
B. Controversial Race
• 1) Calhoun – withdrew from the race
• 2) Clay – a passionate orator – willing to make political deals to
become President
• 3) Jackson – was a “Man of the People”
![Page 22: CHAPTER 8 The Market Revolution 1812-1845. SECTION 1 A Market Economy](https://reader035.vdocument.in/reader035/viewer/2022062308/56649e0b5503460f94af382e/html5/thumbnails/22.jpg)
II. Describe why the election of 1824 was controversial.
C. The “Corrupt Bargain”
• 1) Jackson won the most popular votes, but not the electoral vote
• 2) House of Representatives decided the election
• 3) Clay managed to persuade Kentucky to vote for Adams – John Q. Adams became President – Clay became Sec. of
State
• 4) Critics charged Adams and Clay had a corrupt bargain
![Page 23: CHAPTER 8 The Market Revolution 1812-1845. SECTION 1 A Market Economy](https://reader035.vdocument.in/reader035/viewer/2022062308/56649e0b5503460f94af382e/html5/thumbnails/23.jpg)
III. Compare the views of the National Republicans and the Jacksonian Democrats.
A. Adams as President – National Republicans
• 1) Supported the federal power to strengthen the nation• a) build roads, bridges, universities, and other public
improvements• b) encouraged America-made goods
• 2) Jackson blocked Adams in Congress
![Page 24: CHAPTER 8 The Market Revolution 1812-1845. SECTION 1 A Market Economy](https://reader035.vdocument.in/reader035/viewer/2022062308/56649e0b5503460f94af382e/html5/thumbnails/24.jpg)
III. Compare the views of the National Republicans and the Jacksonian Democrats.
B. Election of 1828
• 1) Andrew Jackson found his greatest support among common
people
• 2) Jackson and his fellow Democrats tried to be true to Jefferson’s
ideal of limited government
• 3) The 1828 election was a referendum on the role of government
in the economy
• 4) Jackson won electoral vote 178 to Adam’s 83
![Page 25: CHAPTER 8 The Market Revolution 1812-1845. SECTION 1 A Market Economy](https://reader035.vdocument.in/reader035/viewer/2022062308/56649e0b5503460f94af382e/html5/thumbnails/25.jpg)
SECTION 5
The Age of Jackson
![Page 26: CHAPTER 8 The Market Revolution 1812-1845. SECTION 1 A Market Economy](https://reader035.vdocument.in/reader035/viewer/2022062308/56649e0b5503460f94af382e/html5/thumbnails/26.jpg)
I. Describe the link between Jackson’s presidency and the expansion of democracy.
A. Jackson as President
• 1) Jacksonian Democracy
• 2) Spoils System• a) Patronage – government jobs given to friends and supporters of
newly elected officials
• b) Spoils System – patronage as practiced by Andrew Jackson
• c) Jackson defended the spoils system by claiming that it prevented control of
government by the rich
• 3) Limited government• a) Jackson attacked corrupt laws that would limit people’s liberty
![Page 27: CHAPTER 8 The Market Revolution 1812-1845. SECTION 1 A Market Economy](https://reader035.vdocument.in/reader035/viewer/2022062308/56649e0b5503460f94af382e/html5/thumbnails/27.jpg)
II. Explain the crises over the tariff and Native Americans.
A. Tariff Crisis
• 1) Tariff of 1828 – prior to Jackson, Congress passed an import tax
that benefited Northerners at the expense of Southerners
• 2) The Tariff of 1828 posed a serious challenge to federal authority
when South Carolina declared the tariffs null and void
• 3) South Carolina threatened to secede, or withdraw, from the
Union if its nullification were not respected
![Page 28: CHAPTER 8 The Market Revolution 1812-1845. SECTION 1 A Market Economy](https://reader035.vdocument.in/reader035/viewer/2022062308/56649e0b5503460f94af382e/html5/thumbnails/28.jpg)
II. Explain the crises over the tariff and Native Americans.
B. Indian Relocation
• 1) Five Civilized Tribes – Cherokee, Creeks, Chickasaw, Choctaw,
Seminole
• 2) Jackson responded to southern states’ taking control of Indian
lands by encouraging the relocation of the Indians
• 3) Indian Removal Act – law providing Native Americans land in
the Louisiana Purchase in return for
lands taken from them in the East
• 4) Trail of Tears – journey of the Cherokee west from Georgia
![Page 29: CHAPTER 8 The Market Revolution 1812-1845. SECTION 1 A Market Economy](https://reader035.vdocument.in/reader035/viewer/2022062308/56649e0b5503460f94af382e/html5/thumbnails/29.jpg)
III. Summarize the battle over the Bank of the United States.
A. When Congress voted to extend the charter of
the Bank of the United States, Jackson vetoed
the bill
B. Jackson won re-election in 1832
![Page 30: CHAPTER 8 The Market Revolution 1812-1845. SECTION 1 A Market Economy](https://reader035.vdocument.in/reader035/viewer/2022062308/56649e0b5503460f94af382e/html5/thumbnails/30.jpg)
III. Summarize the battle over the Bank of the United States.
C. Jackson’s Successors
• 1) Martin Van Buren elected in 1836
• 2) As a result of the depression during Van Buren’s presidency, William Henry Harrison won the
presidency in 1840
• 3) William Henry Harrison died a month later due to pneumonia