N Market Revolution New 24-25

Market Revolution

The expansion of the market place prompted by the construction of new roads and canals that connected distant communities

Mechanization of Agriculture

Cotton gin, steel plow, and reaper (slices grain) led to more production of agriculture which benefited agricultural societies like the ones in the South

Eli Whitney

Invented the cotton gin and interchangeable parts

Cotton Gin

Invented by Whitney. Enabled the process of growing and selling cotton on a larger scale

McCormick

Invented the reaper which sliced grain

Transportation/ communication

Improvements in transportation and communication led to more efficient spread of news and more efficient means of trade. These inventions helped boost the economy in that items and messages could be traded faster so money circulated faster.

Erie canal

Connects the north and the west and allows for the trade of goods between the two regions. This "invention" led to the exclusion of the south (sectionalism) and united the west and north together. Connected great lakes with the Hudson river

Roads

Wilderness road: opened and eased other routes. Not as efficient as other technologies

Canals

Canals with steamboats were able to transfer large people and commodities for cheaper than wagons. Made transport cheaper and more effecient

Railroads

Opened up new areas of land for settlement and expanded markets like coal and iron

Steamboat

Invented by Robert Fulton. It enabled more options for trade and commerce since it could travel upstream

Telegraph

Invented by Samuel Morse. Sped up flow of information. Allowed merchants to know when to expect their shipments and know how much to expect to sell them for. More information led to more robust markets

Impacts on the North

The revolution helped unify the north and the west. Transportation effected politics (messages could be spread etc), and there was an increase of enfranchisement

Impacts on the South

Through the market revolution the rich in this area became more rich, and the poor more poor. There was low social mobility and an increased economic gap. The cotton gin helped increase revenue, but this region became very isolated from other regions. There was a growth of slave labor

Impacts on the West

Helped unify the north and west. Led to an influx of people to the west who had less money (small farmers moved west). Social mobility was more accessible, and this region had access to imported goods via the steamboat

National (Cumberland) Road

1811, Cumberland to Wheeling, Federal government funded

Factory

Organizational innovation. Made production much faster and more efficient, workers are gathered in one place

Manifest Destiny

It was Americans god given right to expand into western land/ spread into land

Irish

Moved to American to escape poverty due to the potato famine. They were not though of highly and were often treated in the same way blacks were treated. Were catholic and hated by many like the know nothings.

Problem with Capitalism

The rapid expansion that also comes with high risks that include regular periods of sharp economic downturns.

Samuel Slater

"Father of the Factory System" in America; escaped Britain with the memorized plans for the textile machinery; put into operation the first spinning cotton thread in 1791.