The Market Revolution

Context

  • U.S. became self-sufficient

  • Worked on infastructure

  • Industrialization began in U.S. when Samuel Stater emigrated from Britain to Rhode Island and set up first U.S. textile factory in 1789

What is the Market Revolution?

  • Fundamental transformation in U.S.

    • due to widespread mechanization of industry and integration of various economic markets both domestic and foreign

Adam Smith

  • Laissez-faire capitalism

  • Self-betterment through reason

  • Believed economy will control itself without any government interference

Cumberland Road

  • Built stretching from MD to IL

    • built to transport goods

  • State was responsible for maitnances, toll system was imposed

Transportation Revolution

  • Steam engine changed everyday life during 1830s-1850s

  • Development of canals and railroads fueled U.S. economy

    • first big buisness in the U.S.

    • magnet for financial investment

    • key to opening West

    • railroads aided development of other industries

  • Erie Canal- connected NYC to Great Lakes (East to West)

Industrial Techonolgies

  • Interchangeable parts- parts of a machine that can be substituted for one another; allowed unskilled workers to put machines together

  • Factory system- goods were produced in factories; made things cheaper

Agricultural Technologies

  • Cotton gin- prioritized cotton

  • Farmers could now grow crops for profit instead of only personal use

  • Helped national and international industry

Immigration

  • Irish and German immigrants came to U.S.

    • brought about Irish Potato Famine

    • Germans were political refugees

  • Lead to creation of Know Nothing Party → wanted to restrict immigration

  • Nativism → political policy of promoting the interests of native inhabitants against those of immigrants

  • Many arrived on eastern seaboard and settled in large cities

    • cities had many problems (overcrowding, unsanitary, crime)

Rise of Middle Class

  • Nature of work shifted during Industrial Revolution

    • led to rise of middle class

  • Shopkeepers

  • “Skilled” workers got paid more and had more leisure time

  • Sporting events, card games, etc. developed

  • Educated, mostly protestant

  • Clear distinction between lower and middle class

Women

  • Republican Motherhood!!

  • “Cult of Domesticity” - in books and magazines; stated that women must have babies, raise them, and provide a home that was a haven of rest for their husbands

  • Seperate public and private spheres took firm hold in middle class

  • NONE OF THIS APPLIES TO LOW-CLASS WOMEN

    • they still have to work long days with little pay

Boott Cotton Mill, Lowell MA

  • Major center in cotton textile, abundance of water power

  • Gained fame for “mill girls”- opportunities for women in neighboring cities to have employment

    • eventually replaced by immigrants