Download - Over the River and Through the Woods
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Over the River and Through the Woods
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Frontier Economy, Transportation, and the Prospects of Madison, Indiana
John L. Larson, History
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I. What Came Naturally
II. The Urge to Improve
III. The Market Revolution
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I. What Came Naturally
A. Original landscapes
B. Primitive export and import
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A. Original landscapesBy all accounts, a dense forest
Ancient beech-maple forests
Less underbrush than now
Much of it wet
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Impediments to travel =
Poor visibility Mud Fallen timber Creeks/gullies
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B. Primitive export and import
Rafting downstream = primary way out . . .
. . .often all the way to New Orleans
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followed by arduous return About 1000
miles on foot . . .
. . . twice that by keel boat
Natchez “down under”
Weeks on the road—little gain to show
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Natural waterways dictate terms
Settlers clung to navigable streams
Commerce centeredon water
Poorly drained interior less desirable
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Lawrenceburgh data 1826
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II. Urge to Improve
A. In whose interest?
B. Available technology
C. Links with statecraft
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A. In whose interest?
Country merchants
Land speculators
Boosters, hucksters, persons of ambition
NOT subsistence farmers
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B. Available technologies
Steamboats: cheap, private, flexible, effective
Madison waterfront in 1846
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Roads -Macadam -regular -stumps
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Canals -Erie 1825 -Ohio >1827 -Indiana >1836
Still 3 miles per hour
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Railroads: experimental until 1850
B&O Lafayette 1837
M&I’s #1
M&I’s Reuben Wells 1868
Mohawk & Hudson
Look out! 23 mph and gaining
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Special Madison feature: the 400 foot Inclined Plane
http://mjcpl.org/rivertorail
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C. Links with statecraft Politicians offer developmental vision
Jennings, Ray, Noble = “state makers” Pin private fortunes to public policy
Values of land and produce at stake Production alone make land profitable Markets alone make produce profitable Land values raise tax revenue, not rate
Mammoth internal improvement program 1836
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III. Market Revolution
A. Specialization and diversificationB. Cash overcomes barter/exchangeC. Rise and fall of local advantagesD. Market forces take commandE. Who runs this “free” country?
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A. Specialization & diversification Market outlets cash crops cash
purchases
Mills and processors spring up
Merchants carry better range of goods store credit = local money
Local manufacturers thrive
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B. Cash overcomes barter Money (or credit) circulates more freely
inherently fungible converts distance into price
Cash price subverts face-to-face exchange
impersonal transactions stripped of relationship
Material life improves lots of stuff cheaper stuff happy consumers
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C. Rise and fall of local advantages
Madison’s advantage: Ohio River steamboats
-disadvantage? 400’ bluff-overcome with deep cut-open up Indianapolis?
Over time, Indianapolis grew self-sustaining-Cincinnati, Wabash R. proved better
outlets-Madison scrambles to stay in the
game
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Individual merchants & manufacturers:
enjoy early advantages of cheap transport(exact timing is local and varies greatly)
they expand scale and scope of operations
often invest in internal improvements . . .
removing barriers to distant competitors . . .
who swoop in to kill local vendors! (Oops)
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Compare, then overlay
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Again . . .
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Improvement proves to be a fickle mistress!
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D. Market forces take control Maturing markets yield price stabilization
New York price of corn is what matters Farmers become price takers Rural merchants enmeshed in credits
Externalities invade local economies Foreign wars, famines, disasters Commercial panics, bank failures
Handlers get control of the float
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E. Who runs this “free” country?
Granger print 1870s
Bryan campaign 1896