9.1: The Market Revolution

Objectives: 1.To describe how industrialization and capitalization shaped the U.S. economy

2.To identify the inventions that enhanced people’s lives and helped fuel the economy’s growth

3.To explain how improved transportation and communication helped link America’s regions and made them interdependent

U. S. Markets ExpandU. S. Markets Expand

People begin to buy and sell at markets

People began to shift towards specialization

This led to the Market Revolution

America grew more from 1840-1850 than it did from 1800-1840!!

•This quickening pace depended on capitalism

•Many entrepreneurs began businesses and invest in industries

**During this growth of **During this growth of industry in markets and industry in markets and cities, what was happening cities, what was happening to farms?to farms?

Inventors and ImprovementsInventors and Improvements1. 1859 –Charles

Goodyear invents vulcanized rubber

2. 1846 – Elias Howe invents the sewing machine

•Why were these inventions important?

•What impact did they have?

Instant CommunicationInstant Communication

3. 1837 – Samuel Morse invents the telegraph.

Messages can be sent in seconds

How are they sent?

Why was this important?

Transportation RevolutionTransportation Revolution4. 1807 – Robert

Fulton invents the Steamboat

Could travel up to 5 MPH

5. 1817 – Erie Canal Costs dropped sharply Connected the East

and West Made NYC a major

port

Emergence of RailroadsEmergence of Railroads 6. Railroads became

increasingly popular in the 1840s-1860s

◦ Were expensive, but FAST

◦ Could travel up to 10mph!

◦ Deliver goods to people not near waterways

◦ By 1850,over 10,000 miles of track had been laid

Map: Railroad Growth, 1850-1860Map: Railroad Growth, 1850-1860

Copyright © Houghton Mifflin Company. All rights reserved.

New Markets Link RegionsNew Markets Link Regions

NORTHEAST Canals, road, RRs, and

the telegraph have linked all the regions of the U.S.!

◦ East – textiles and machinery

◦ West – grain and livestock

◦ South – cotton

NYC is the central link to Europe

Only 14% of workers had manufacturing jobs

Products were available all over and continued to get cheaper

MIDWEST SOUTH

7. 1837 – John Deere invented the steel plow

By 1850, he was selling 13,000 a year!

8. 1851 – Cyrus McCormick invents the mechanical reapers

Still relied on crops

Didn’t like industrialization

How is America changing through this “revolution”?

1837: John Deere invents the steel plow.

What was the impact of this device?

http://historywired.si.edu/images/enlarged/212a.jpg

Model of McCormick reaper, 1850s(Smithsonian Institution, Washington, D.C.)

What is the long-term impact of the mechanical reaper?

How is America changing through this “revolution”?

Improvements helped people keep in touch with one another

Changed economic relationships between the groups, creating new markets where they had none

Encouraged Southerners and Northerners to expand west

ObjectivesObjectives

1. To describe how industrialization and capitalization shaped the U.S. economy

2. To identify the inventions that enhanced people’s lives and helped fuel the economy’s growth

3. To explain how improved transportation and communication helped link America’s regions and made them interdependent

How did Specialization, Market Revolution, and How did Specialization, Market Revolution, and Capitalism work together to spur Capitalism work together to spur industrialization?industrialization?