The Salad Days or “Era of Good Feelings”

Some Accomplishments of Modernization Cotton Gin Interchangeable parts The National Road The Erie Canal Steam locomotives Steam boats

Differing Economies Develop: North Manufacturing develops almost by necessity Trade (major economic pursuit) is greatly harmed Embargo Act (1807) British Blockade (1812)

Differing Econ: North 2 Agricultural changes also Originally growing crops for subsistence Small farmers in Northwest (N of Ohio River) diverge Grow one or two relatively easy-to-grow crops or livestock (cattle, corn, other grains) Sell it in the growing cities, buy what they need Regardless, little demand for slaves Lighter labor, lower profit margins By 1804, almost all slavery abolished in the North

Differing Economies: South Cash crops Cotton in high demand – textile industry in Europe and growing fast in the North Short-staple cotton – easier to grow, but harder to clean than long-staple cotton Invention of cotton gin allows for efficient cleaning of short-staple cotton – CHA-CHING! changing-world-the-cotton-gin-video.htm changing-world-the-cotton-gin-video.htm

Differing Econ: South 2 Development of “Cotton Kingdom” greatly expands slavery High profits and ability for manual labor to efficiently process cotton lead wealthy plantation owners to buy up land and grow the stuff As America nears end to slave importation, numbers skyrocket – , number of slaves jumps from 700,000 to 1,200,000

The “American System” Pres. Madison wants to unify nation Plan to Congress Transportation/interior improvements Protective tariff Bring back the National Bank

Build self-sufficiency South and West produce food and cotton to fuel the Northern textile industries Industrial North manufactures raw materials produced in the South and West Building/improving rails, roads, canals to facilitate transportation of goods National Road and Erie Canal from Slide 2

Protecting Domestic Industry: the Tariff of 1816 British goods (iron, textiles) in large surplus - stockpiled during the War of 1812 Excess surplus means low prices (below American cost) Tariff = tax on imported goods How does a tariff protect industry? Northeast likes tariff – protecting their industry South/West not so much – no real benefit, only higher cost of finished goods

New Natty Bank Most agree that Second Bank of the United States would benefit all Available guaranteed currency makes trade across regions easier People generally pleased with path of the country – “Era of Good Feelings”