The Market Revolution

New Communication Technology In 1837 Samuel Morse developed the telegraph. This technology allowed people to communicate through wires for the first time. This is where Morse code comes from.

Market Revolution? America had been a pretty self sufficient place prior to the Industrial Revolution. Now, however, workers are getting wages and buying things produced by other workers. This affects farming, and farmers start to specialize in one or two “cash crops.”

Capitalism The new market economy relied on Capitalism, which is an economic system that depends on the rule of supply and demand. For example, if there is a high demand for boots, then manufacturers must meet that demand with a high supply.

Entrepreneurs An entrepreneur is someone who invests money in a business, in hopes of making more money. There is risk involved, and if that business fails then the entrepreneur loses money. If it is successful, however, then entrepreneur makes money.

Transportation fuels the Market Revolution Improvements in ships, like steamboats, allowed goods to travel further and faster than ever before. This furthers the link between the three regions (North, South, and West).

Farming Improvements John Deere invents the first steel plow which worked much better than previous plows. It required less animal power to pull. Cyrus McCormick invented the mechanical reaper, which allowed a farmer to harvest his crops much faster.

Homework for tonight. Read sections 9.1 and 9.2

Manifest Destiny This is the concept that it was God’s destiny for America to move Westward. As a result of this mindset, hundreds of thousands of Americans and newly arrived immigrants travel West.