1. 9-1 THE MARKET REVOLUTION Pgs. 254-259

2. U.S. Markets Expand  Farmers began to shift from self-sufficiency – raising a wide variety of food for their own families – to specialization, raising one or two crops that they could sell at home or abroad.  Brought a market revolution – people bought and sold goods rather than making them for themselves.

3. The Entrepreneurial Spirit  Economic growth depended on capitalism, the economic system in which private businesses and individuals control the means of production and use them to earn profits  Examples: factories, machines and land  Entrepreneurs invested their own money in new industries.  Huge risk

4. Impact on Household Economy  Farmers began to use machines to keep up with the demand for goods  Cheaper prices made products available to all people.

5. Shoes and Sewing Machines  Goodyear developed vulcanized rubber in 1839  Didn’t freeze in cold weather or melt in hot weather  Elias Howe patented the sewing machine in 1846.  Led to factory production of clothing making it cheaper so all people could buy clothing at the store.

6. Instant Communication  Samuel F. B. Morse created the telegraph in 1837.  By 1853 23,000 miles of telegraph wire crossed the country.

7. The Transportation Revolution  Need for better and faster transportation.  Steam powered boats became very popular and cut travel time in half.  Water was very important for transportation, and if there was no water then canals were built.  Trains were more expensive, but were faster and ran in winter.

8. New Markets Link Regions  Northeast was the center of American commerce.  New York City, New York  Farming was centralized in the Midwest.  John Deere invented the steel plow to help farmers prepare the land faster.  Cyrus McCormick invented the mechanical reaper allowing farmers to do the work of 5 people.  Southerners didn’t want to industrialize and were agriculturally based.  Even if Southern plantation owners wanted factories, they were not financially able to do so because they had invested so much in their plantations.  People wanted to move to the West.