Market Revolution, 1810-1850

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Market Revolution, 1810-1850

• Post-war optimism economic nationalism abound
• wartime economic issues lead to political
  remedies
• new banks - everywhere! - very significant
  1814-1824
• 1816 Tariff, 2nd BUS (still controversial), Bonus
  Bill (proposed)
• McCullough v. Maryland, 1819 Supreme Court case
  is key pro-fed, pro-BUS decision

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Market Revolution, 1810-1850

• state govts, 1810-1850
• states use incentives to create turnpikes,
  bridges, canals, banks, railroads
• limited liability phased in , _at_1820-1850
  promotes individual corporate investment
• Steamboats are significant connect cities via
  rivers, commuting (NYC)
• Erie Canal (1817-1825) leads to wave of canal
  building in 1820s, upstate NY economy
• 1860, transportation exacerbates sectional divide

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Canals Steamboat routes, 1825 1860
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Travel times, 1800 1830
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Market Revolution,1810-1860,

• interchangeable parts - significant technologies,
  Eli Whitney is key innovator
• growth of an urban working class-skilled
  unskilled laborers
• Textile industry is emergent as first large
  industry - ex. Lowell mills, MASS
• labor/political unions est. in Jacksonian 1830s
  Workingmens associations
• labor protests in Mass., New York - young women
  involved in New England

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Cotton mills, 1810-1850
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Market Revolution, 1810-1850

• 1800-1840 commercial cotton expands across South
  via cotton gin US as exporter
• Cyrus McCormick reaper, steel plow help boost
  midwestern corn grain production
• NE farming communities struggle- farms dont
  yield enough in market setting
• Midwest farms go large, commercial
• banking currency remains problematic through
  era BUS hard soft money issue
• Panic of 1837 recession, boom bust cycle
  wallops Americans, 1837-1843
• free banking laws introduced in 1830s to expand
  access to capital

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1840 campaign poster, vs. Van Buren
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Market Revolution Group Activity

• Your group is a newly-created American Economic
  Advisory Council in 1840
• Your job is to advise Americans on the market
  revolution, given the changes that have taken
  place in the previous 30 years what are your
  key points of advice? re
• government market regulation
• free enterprise
• workers in the economy
• transportation and physical development
• banking finance
• USE your text primary sources as refs.

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Links

• New York Harbor http//www.digitalhistory.uh.edu/
  ahd/lincoln6b.html
• Lowell Mills Time Table http//mrzine.monthlyrevie
  w.org/TimeTableoftheLowellMills488.jpg
• Erie Canal http//www.eriecanal.org/