The Market Revolution

1
The Market Revolution

• Chapter 9

2
Post War Market

• War of 1812 demonstrated inefficiencies in US
  govt
• - dependent on foreign trade
• - immobile military
• Congressional decisions
• - encourage natl independence
• - build transportation routes

3
Tariff act of 1816

• Congress eases burden of dependence
• Tariff- duties imposed on imported goods.
• Tariff Act of 1816
• - raised tariffs an average of 25
• Discourages dependence on imported products
• - designed to protect American industries
• - helps avoid entanglements during foreign
  conflicts

4
Improvement in Transportation

• In 1816, a Senate Committee reported that 9
  would move a ton of goods across the 3,000 miles
  journey of the Atlantic from Britain to America
  the same 9 would move the same ton of goods only
  30 miles inland.
• Changes in transportation is needed

5
Transportation Revolution

• By 1815, drastic improvements were made in
  transportation
• - better roads, canals, railroad, etc
• Congress authorized the national road
• - links east west regions
• - made it easier for settlers wagons to
  reach the west
• - increase mobility of armed forces

6
The National Road opened the the Midwest for
settlement and commerce
7
Erie Canal (continue)

• construction began on the Erie Canal in 1817 (100
  miles of canal in the US)
• By 1840, more than 3,000 miles existed.
• Transformed interior of New York into a
  prosperous commercial area

8
Erie Canal (continue)

• runs from the Hudson River to Lake Erie,
  connecting the Great Lakes with the Atlantic
  Ocean
• entire canal was opened on October 26, 1825 363
  miles long, 40 feet wide, and 4 feet deep
• Result massive population surge in N.Y.
• - opened regions further west to increased
  settlement

9
US Railroads

• Connected cities to rivers and canals
• - 3,000 miles of railroad built between 1820
  1840
• - 30,000 miles by 1860
• - rendered some canals obsolete
• Improvements in speed
• - journey from Ohio to N.Y. in 1815 took 52
  days. Same route by 1850 took 6 days.

10
Railroads in the United States, 1840 and 1860
11
Industrial Revolution

• Market Revolution initiated the Industrial
  revolution
• Produced the beginnings of industry and the
  greatest period of growth in US history
  (1820-1870)
• South produced ¾ of the worlds cotton (p 258)
• - Dependent on slavery (4 million in US)