Creating a Republican Culture Chapter 8

Entrepreneurial Spirit Factors of Production: “If movement and the quick succession of sensations and ideas constitute life, here one lives a hundred fold more than elsewhere; here, all is circulation, motion, and boiling agitation.” “Experiment follows experiment; enterprise follows enterprise, riches and poverty follow.”

Banking –Government sponsored land banks and credit from suppliers –Bank of North America (1781) –Bank issued notes –Commercial loans –1816 – $68m in banknotes in circulation – – $45m in banknotes in circulation

Another Revolution Affects America Manufacturing moved from –Power-driven machinery –Specialized workers Industrial Revolution –Social and economic reorganization Started in Great Britain

Transportation –1816 –1831 – – –