9.1: The Market Revolution

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Presentation transcript:

9.1: The Market Revolution Objectives: To describe how industrialization and capitalization shaped the U.S. economy To identify the inventions that enhanced people’s lives and helped fuel the economy’s growth To explain how improved transportation and communication helped link America’s regions and made them interdependent

U. S. Markets Expand People begin to buy and sell at markets People began to shift towards specialization This led to the Market Revolution America grew more from 1840-1850 than it did from 1800-1840!! This quickening pace depended on capitalism Many entrepreneurs began businesses and invest in industries U. S. Markets Expand

**During this growth of industry in markets and cities, what was happening to farms?

Inventors and Improvements 1. 1859 –Charles Goodyear invents vulcanized rubber  2. 1846 – Elias Howe invents the sewing machine Why were these inventions important? What impact did they have?

Instant Communication 3. 1837 – Samuel Morse invents the telegraph. Messages can be sent in seconds How are they sent? Why was this important?

Transportation Revolution 4. 1807 – Robert Fulton invents the Steamboat  Could travel up to 5 MPH 5. 1817 – Erie Canal Costs dropped sharply Connected the East and West Made NYC a major port

Emergence of Railroads 6. Railroads became increasingly popular in the 1840s-1860s Were expensive, but FAST Could travel up to 10mph! Deliver goods to people not near waterways By 1850,over 10,000 miles of track had been laid

Copyright © Houghton Mifflin Company. All rights reserved. Map: Railroad Growth, 1850-1860 Copyright © Houghton Mifflin Company. All rights reserved.

New Markets Link Regions Canals, road, RRs, and the telegraph have linked all the regions of the U.S.! East – textiles and machinery West – grain and livestock South – cotton NORTHEAST NYC is the central link to Europe Only 14% of workers had manufacturing jobs Products were available all over and continued to get cheaper

MIDWEST SOUTH 7. 1837 – John Deere invented the steel plow By 1850, he was selling 13,000 a year! 8. 1851 – Cyrus McCormick invents the mechanical reapers Still relied on crops Didn’t like industrialization How is America changing through this “revolution”?

1837: John Deere invents the steel plow. http://historywired.si.edu/images/enlarged/212a.jpg 1837: John Deere invents the steel plow. What was the impact of this device?

What is the long-term impact of the mechanical reaper? Model of McCormick reaper, 1850s (Smithsonian Institution, Washington, D.C.) What is the long-term impact of the mechanical reaper?

How is America changing through this “revolution”? Improvements helped people keep in touch with one another Changed economic relationships between the groups, creating new markets where they had none Encouraged Southerners and Northerners to expand west

To describe how industrialization and capitalization shaped the U. S To describe how industrialization and capitalization shaped the U.S. economy To identify the inventions that enhanced people’s lives and helped fuel the economy’s growth To explain how improved transportation and communication helped link America’s regions and made them interdependent Objectives

How did Specialization, Market Revolution, and Capitalism work together to spur industrialization?