the market revolution
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The Market Revolution. 1820-1860. What are we talking about?. Major economic transformation Expansion of people producing for the market Changing WHAT they are producing and HOW they are producing Completely new mindset REVOLUTIONARY!!. Factors Leading to the Market Revolution. - PowerPoint PPT PresentationTRANSCRIPT
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The Market Revolution
1820-1860
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What are we talking about?
Major economic transformation
Expansion of people producing for the market Changing WHAT they are producing and HOW
they are producing
Completely new mindset REVOLUTIONARY!!
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Factors Leading to the Market Revolution Specialization of Labor Early Industrialization Transportation & Communication Revolution Westward Expansion Rise of the Cotton Kingdom Immigration & Migration Government Support for Business
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Specialization of Labor
What is “outwork”?
What is the “factory system”?
Lowell/Waltham Mills
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Samuel Slater(“Father of the Factory
System”)
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The Lowell/Waltham System:
First Dual-Purpose Textile Plant
Francis Cabot Lowell’s town - 1814Francis Cabot Lowell’s town - 1814
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Lowell in 1850
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Lowell Mill
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Early Textile Mill Loom Floor
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Early Textile Loom
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Early Industrialization
Begins in England as early as 1780s
Really underway in US by 1790s, but doesn’t really start to grow until early 1800s
MECHANIZATION STANDARDIZATION INTERCHANGABLE PARTS
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New EnglandTextile
Centers:
1830s
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New England Dominance in Textiles
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Starting for Lowell
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Lowell Girls
What was their typical What was their typical “profile?”“profile?”
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Lowell Boarding Houses
What was boardinghouse life What was boardinghouse life like?like?
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Eli Whitney’s Cotton Gin, 1791
Actually Actually invented by a invented by a
slave!slave!
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Eli Whitney’s Gun Factory
Interchangeable Parts RifleInterchangeable Parts Rifle
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Elias Howe & Isaac Singer
1840s1840sSewing MachineSewing Machine
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John Deere & the Steel Plow(1837)
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Cyrus McCormick& the Mechanical Reaper:
1831
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Transportation & Communication Revolution
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Cumberland (National Road), 1811
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Conestoga Covered Wagons
Conestoga Trail, 1820sConestoga Trail, 1820s
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Erie Canal System
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Erie Canal, 1820s
Begun in 1817; completed in 1825Begun in 1817; completed in 1825
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Robert Fulton & the Steamboat
1807: The 1807: The ClermontClermont
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Principal Canals in 1840
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Inland Freight Rates
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Clipper Ships
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OliverEvans
First prototype of the First prototype of the locomotivelocomotive
First automated First automated flour millflour mill
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The “Iron Horse” Wins! (1830)
1830 1830 13 miles of track built by Baltimore & 13 miles of track built by Baltimore & Ohio RROhio RR
By 1850 By 1850 9000 mi. of RR track [1860 9000 mi. of RR track [1860 31,000 31,000 mi.]mi.]
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TheRailroad
Revolution,1850s
Immigrant laborImmigrant laborbuilt the No. built the No. RRs.RRs.
Slave laborSlave laborbuilt the So. built the So. RRs. RRs.
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Samuel F. B. Morse
1840 – Telegraph1840 – Telegraph
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Cyrus Field & the Transatlantic Cable,
1858
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Westward Expansion
Doors opened by removal of Indians & new transportation, communication
Streams of migration From lower south From upper south From New England
Opens up access to new resources Cheap land huge pull factors for immigrants
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Rise of the Cotton Kingdom
Contributing factors: Industrial demand for cotton (1st in UK, then in US) Opening of Deep South to new settlement
Some consequences: Further pushes regional economic specialization Revitalizes slavery Growth of domestic slave trade
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Eli Whitney’s Cotton Gin, 1791
Actually Actually invented by a invented by a
slave!slave!
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Immigration & Migration
ImmigrationImmigration
1840s – Irish1850s -- German
Pull factors Relatively cheap land Access to jobs Quicker long-distance
travel Political freedoms
Push factors Political unrest Famine Lack of economic
opportunity
Internal MigrationInternal Migration
Gradual shift from countryside to cities
People in cities moved more frequently
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National Origin of Immigrants:1820 - 1860
Why now?Why now?
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Government Support for Business Gov’t NOT actively involved in economy Laissez-faire policies mostly
BUT Development of private corporations Severely limited gov’t investment in business State gov’ts active in improving transportation infrastructure Support competition & private property (court cases) Criminalize strikes (supportive of employers)
Protective tariffs in 1816, 1824, 1828
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Creating a Business-Friendly ClimateSupreme Court Rulings:Supreme Court Rulings:
** Fletcher v. PeckFletcher v. Peck (1810) (1810) ** Dartmouth v. WoodwardDartmouth v. Woodward (1819)(1819) ** McCulloch v. MarylandMcCulloch v. Maryland (1819) (1819) ** Gibbons v. OgdenGibbons v. Ogden (1824) (1824) ** Charles Rivers Bridge v. Charles Rivers Bridge v. WarrenWarren Bridge Bridge (1835) (1835)General Incorporation Law General Incorporation Law passedpassed in New York, 1848. in New York, 1848.Laissez faire Laissez faire BUT, govt. did muchBUT, govt. did much to assist capitalism! to assist capitalism!
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Outcomes of these Changes
Rapid Economic Growth Periods of Boom & Bust Urbanization/Growth of Cities Changes in Labor Beginnings of Organized Labor Rise of Nativism Commercialization of farming in NW Social/Cultural Responses
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Rapid Economic Growth
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Regional Specialization
EAST EAST IndustrialIndustrial
SOUTH SOUTH Cotton & SlaveryCotton & Slavery
WEST WEST The Nation’s The Nation’s “Breadbasket”“Breadbasket”
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Periods of Boom & Bust
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Boom/Bust Cycles: 1790-1860
The blue line shows, for comparison, the The blue line shows, for comparison, the price of a year’s tuition at Harvard price of a year’s tuition at Harvard College. In 1790 it was $24, but by 1860 College. In 1790 it was $24, but by 1860 had risen to $104.had risen to $104.
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Urbanization/Growth of Cities
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American Population Centers in 1820
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American Population Centers in 1860
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Changes in Labor
Decline in artisan tradition Workers have less autonomy over their labor Subdivision of tasks More supervision
Sharpening of line between work time & leisure time Shift from labor’s “price” to labor’s “wage”
Some aversion to wage labor Women at Lowell (replaced eventually by cheaper
immigrant labor)
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Beginnings of Organized Labor
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The Early Union MovementWorkingman’s Party Workingman’s Party (1829)(1829) ** Founded by Robert Dale Owen Founded by Robert Dale Owen and and others in New York City. others in New York City.Early unions were usually local, Early unions were usually local, social, and weak.social, and weak.Commonwealth v. HuntCommonwealth v. Hunt (1842).(1842).Worker political parties were Worker political parties were ineffective until the post-Civil ineffective until the post-Civil War period.War period.
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Rise of Nativism
Part of ongoing story of anxiety over new groups of immigrants
Some fears of immigrants as “subversives” Against democratic ideas
Anti-immigrant riots & political campaigns
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Irish Immigrant Girls at Lowell
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American View of the Irish Immigrant
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Know-Nothing Party:
“The Supreme
Order of the Star-
Spangled Banner”
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Commercialization of Farming in NW Beginning to think more about the market More crop specialization
Pushed by growth of Eastern markets Transportation networks Availability of credit Improved farm machinery (esp. after 1840s)
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Social/Cultural Responses
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Changes in Social Structure
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Changing Occupation Distributions:1820 - 1860
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Distribution of Wealthv During the American During the American
Revolution,Revolution,45% of all wealth in the top 45% of all wealth in the top 10% of10% ofthe population.the population.v 1845 Boston 1845 Boston top 4% owned top 4% owned
overover 65% of the wealth. 65% of the wealth.v 1860 Philadelphia 1860 Philadelphia top 1% top 1% ownedowned over 50% of the wealth. over 50% of the wealth.v The gap between rich and poor The gap between rich and poor waswas widening! widening!
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Polarization of Wealth in the 20c
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z They all regarded material They all regarded material advance as the natural fruit of advance as the natural fruit of American republicanism & proof American republicanism & proof of the country’s virtue and of the country’s virtue and promise.promise.
The “American Dream”
A German visitor in the 1840s, A German visitor in the 1840s, Friedrich List, observed:Friedrich List, observed:
Anything new is quickly introduced Anything new is quickly introduced here, including all of the latest here, including all of the latest inventions. There is no clinging to inventions. There is no clinging to old ways. The moment an old ways. The moment an American hears the word American hears the word “invention,” he pricks up his ears.“invention,” he pricks up his ears.
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Who are the Beneficiaries?