Podcast
Questions and Answers
What was a major technological advancement that fueled the rise of American industry during the market revolution?
What was a major technological advancement that fueled the rise of American industry during the market revolution?
- Electric power
- Solar power
- Steam power (correct)
- Wind power
The market revolution resulted in a decrease in the number of northern textile factories.
The market revolution resulted in a decrease in the number of northern textile factories.
False (B)
What was the primary reason for the accelerated demand for southern cotton?
What was the primary reason for the accelerated demand for southern cotton?
The booming textile factories in the North.
The market revolution created a new middle class and a growing lower class of __________ workers.
The market revolution created a new middle class and a growing lower class of __________ workers.
What did many farmers transition to during the early years of the nineteenth century?
What did many farmers transition to during the early years of the nineteenth century?
Match the following terms with their descriptions:
Match the following terms with their descriptions:
The northern economy completely separated itself from southern slavery during the market revolution.
The northern economy completely separated itself from southern slavery during the market revolution.
Name one major consequence of the market revolution on American society.
Name one major consequence of the market revolution on American society.
What was a consequence of labor-saving technology during the market revolution?
What was a consequence of labor-saving technology during the market revolution?
America’s exports increased from $20.2 million in 1790 to over $100 million by 1807.
America’s exports increased from $20.2 million in 1790 to over $100 million by 1807.
What was the primary focus of President James Madison's 1815 annual message to Congress?
What was the primary focus of President James Madison's 1815 annual message to Congress?
In 1816, it cost $9 to move one ton of goods across the Atlantic Ocean and _____ across land.
In 1816, it cost $9 to move one ton of goods across the Atlantic Ocean and _____ across land.
Match the economic events with their corresponding years:
Match the economic events with their corresponding years:
Which of the following factors contributed to the economic growth of the United States?
Which of the following factors contributed to the economic growth of the United States?
The number of state-chartered banks decreased from 1783 to 1860.
The number of state-chartered banks decreased from 1783 to 1860.
The average annual expenditures on internal improvements during Andrew Jackson's presidency were $_____ .
The average annual expenditures on internal improvements during Andrew Jackson's presidency were $_____ .
Flashcards
Market Revolution
Market Revolution
A period of significant economic change in the United States, transforming from a subsistence economy to a commercial one.
Industrial Revolution Technologies
Industrial Revolution Technologies
Innovations like steam power that fueled American industry and transportation networks (e.g., steamboats, railroads).
Commercial Economy
Commercial Economy
An economy where goods are primarily produced for sale in a market, not for personal use.
Economic Growth
Economic Growth
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Wealth and Inequality
Wealth and Inequality
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Free Labor and Slavery
Free Labor and Slavery
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Subsistence Economy
Subsistence Economy
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Transportation Improvements
Transportation Improvements
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Market Revolution Impact
Market Revolution Impact
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Early US Exports
Early US Exports
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US Transportation Issues
US Transportation Issues
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National Infrastructure
National Infrastructure
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State-Chartered Banks
State-Chartered Banks
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Economic Bubbles
Economic Bubbles
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Role of British Capital
Role of British Capital
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Uneven Economic Growth
Uneven Economic Growth
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Study Notes
Market Revolution in 19th Century America
- Americans' commercial ambition in the early 1800s reshaped the nation, transitioning from a subsistence to a commercial economy.
- Industrial Revolution technologies like steam power (for steamboats and railroads) spurred industry and transportation.
- This "market revolution" increased agricultural production for profit, created factories and cities, and expanded the middle class.
- However, it also caused increased class inequality, child labor, slavery's expansion, and economic downturns ("panics").
- Northern textile factories' demand for cotton fueled Southern slavery.
Economic Development in the Early Republic
- American production shifted from consumption to sale.
- Improved transportation boosted trade and exchange.
- Technology separated public and domestic spheres.
- The market revolution fulfilled the Revolutionary generation's progress goals but created societal problems.
- Economic growth was uneven.
- Internal transportation costs were high, hindering development.
- Post-War of 1812, infrastructure like roads, canals, and railroads developed.
- Federal spending on infrastructure steadily increased.
- State-chartered banks grew rapidly.
- European capital funded American infrastructure.
- Panics of 1819, 1837, and 1857 resulted from commodity speculation.
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Description
Explore the transformative Market Revolution in early 19th century America, marked by a shift from subsistence to a commercial economy. Discover how industrial technologies impacted agriculture, transportation, and societal structures, as well as the challenges that arose, such as class inequality and the expansion of slavery.
