Chapter 8: The Growth of a National Economy Section 1: Inventions and Innovations

Revolutionary…. What makes an action, an event, or a period in history revolutionary?

Today’s Objective Identify the characteristics of the Market Revolution

Components of the Market Revolution Market Revolution Roles of Women Attitudes Toward Work Innovations in Manufacturing

Industrial Revolution –An on going effort to ______ ______ by using _______ rather than the _____ of humans or animals Beginnings: –Britain’s ____ _______ –Increased ____________ –Invention of the _____ _________

The U.S. Textile Industry ______ secrets smuggled to America in st successful _____- ________ textile mill Other’s copied Slater –By 1814, the US had 240 textile mills

Interchangeable Parts _____ Contract –10,000 guns  2+years Idea changed manufacturing

The Cotton Gin How did it change the cotton industry? 1. Raised the ______ of _____and the amount ________ 2. Many plantations grew ______ on Cotton 3. Southern ______ buy more land—moving west 4. Increased ______ for labor—_______ doubled

Transportation and Communication Roads –The _______ ______ (US Route 40) –________—toll roads built by private investors River Travel –________ _______ steam boat Canals –____ ______, 1825

Transportation and Communication (cont) Railroads –_______ Locomotive –B & O Railroad Communication –Expanding _____ ______ –Daily ___________ and Magazines –Communication helped tie the _____ _______

An Expanding Economy The ________ Revolution –Rise in _______________ Began in ____ __________ Spread to the Northeast into the Old NW –___________ Factories Francis Cabot ______ All __________ of a product made in ____ place –_______ _________ System (Capitalism) _________ companies compete for profits Encourages __________, produces new jobs, industries and wealth

Working Outside the Home Demand for _______ ________ –____________ Each person makes a part of the final product –Decline of _________ and Northern Farmers

The Role of Banks Rise of the _______ Industry –Profits from ________ –Investment Capital __________ Lending –_______ didn’t restrict lending –Poorly chosen candidates –Out of Business Banks created ________

Closure: In what way were the events of the Market Revolution revolutionary?