the market revolution john sacher university of central florida [email protected]
TRANSCRIPT
Democratic v. Whig IdeasDemocratic v. Whig Ideas
1.1. Do not welcome economic and Do not welcome economic and social change (or at least don’t social change (or at least don’t believe government should aid this believe government should aid this change.)change.)
2.2. Welcome & Welcome & encourageencourage economic economic and social change.and social change.
Characteristics of Market Characteristics of Market RevolutionRevolution
1. Creation of a national market.1. Creation of a national market.
2. Increase in concentrations of economic 2. Increase in concentrations of economic activities.activities.
3. Increase in mobility of capital, goods, 3. Increase in mobility of capital, goods, and labor.and labor.
4. Innovations in government and legal 4. Innovations in government and legal systems, and political & social conflict systems, and political & social conflict between market oriented & market between market oriented & market resistant groups. resistant groups.
RoadsRoads
The National RoadThe National Road
Our Traveler, Cincinnati to Our Traveler, Cincinnati to NYNY
FlatboatFlatboat
Erie CanalErie Canal
TRTTRT
The 8th Wonder of the World
Northern CanalsNorthern Canals
RailroadsRailroads
Travel TimeTravel TimeCincinnati to New YorkCincinnati to New York
18171817 52 Days52 Days
18431843 18 Days18 Days
18521852 7 Days7 Days
Total travel time decreases 86%. Cost Total travel time decreases 86%. Cost decrease—95%-land, 75% decrease—95%-land, 75% downriver, 90% upriver.downriver, 90% upriver.
The The TelegraphTelegraph
Samuel F.B. Morse
“What Hath God Wrought.”
Americans “were more ready to seek six columns of the details of a brutal murder, or the testimony of a divorce case, or the trial of a divine forimproprieties of conduct , than the same amount of words poured forth by the genius of the noblest author of our times.”
James Gordon Bennett, editor of the New York Herald
Land—Subsistence Plus Agriculture
Fall LineFall Line
A MillA Mill
Urban GrowthUrban Growth
In 1820, 12 cities over 10,000In 1820, 12 cities over 10,000
2 cities over 100,0002 cities over 100,000
7.2% population in “urban” areas7.2% population in “urban” areas
In 1860, 101 cities over 10,000In 1860, 101 cities over 10,000
8 cities over 100,0008 cities over 100,000
19.8% population in “urban” areas19.8% population in “urban” areas
Urban Areas, 1820-1860Urban Areas, 1820-1860
Lowell MillsLowell Mills
