THE MARKET REVOLUTION 1790-1830. THE RISE OF A MARKET ECONOMY DUE TO CHANGES IN TRANSPORTATION A NEW...

THE MARKET REVOLUTION 1790-1830

THE RISE OF A MARKET ECONOMY DUE TO CHANGES IN TRANSPORTATION A NEW ECONOMIC SYSTEM WILL

DEVELOP FARM INCOME INCREASED BECAUSE TRANSPORTATION COSTS DECLINED 1800-1815 HOMES CONSUMED MOST OF WHAT THEY GREW 1820’S BEGIN TO SEE FARM FAMILIES PRODUCE SOME GOODS FOR MARKET MORE SETTLEMENT OUT WEST AS A RESULT OF TRANSPORTATION 1800-40 AGRICULTURAL OUTPUT INCREASED ANNUALLY ABOUT 3% BETTER TECHNOLOGY, IRON TOOLS, LED TO IMPROVED YIELDS IMPROVED VARIETIES OF CROPS & LIVESTOCK AVAILABILITY OF GOOD LAND

WESTWARD EXPANSION – GO WEST YOUNG MAN 1790 WEST WAS EAST OF APPALACHIANS

1840 1/3 US POPULATION LIVED BETWEEN APPALACHIANS & MISS-ISSIPPI RIVER

MOVE AS FAMILIES, CREATE OWN CULTURE, LIFE HARD INITIALLY

SEE EAST AS CORRUPT & WEST AS HONEST & DEMOCRATIC

VERMONTVILLE, MI- INCREASED POWER OF FED GOV’T, RUTHLESS INDIAN REMOVAL, INCREASE IN AG PRICES POST 1812

NEW STATES OUT OF LA PURCHASE

THE DOMESTIC SYSTEMTO TRACE THE CHANGES FROM HOUSEHOLD MANUFACTURING TO FACTORIES

BY LOOKING AT CIRCUMSTANCES THAT FORCED TECHNOLOGICAL CHANGE

1800-1815 MANUFACTURING AT HOME FOR PERSONAL CONSUMPTION

IMPROVED TRANSPORT INCREASED FARM INCOME & STIMULATED COMMERCIAL AGRICULTURE

DOMESTIC SYSTEM CREATED CHANGE IN DISTRIBUTION

WORK DURING OFF SEASON

1800-1840 AG OUTPUT INCREASED ANNUALLY ABOUT 3%

TEXTILES AND THE FIRST FACTORIES GREAT BRITAIN “WORKSHOP OF THE

WORLD”

SIMPLE FACTORIES: PAWTUCKET, RI 1790, SAMUEL SLATER, SPUN COTTON INTO THREAD

F.C. LOWELL & BOSTON ASSOCIATES 1813 - CREATE WALTHAM SYSTEM

COMBINE OPERATION, PRODUCTION & MANAGEMENT IN CENTRAL LOCATION

THREAD INTO COTTON CLOTH

THE WALTHAM SYSTEM & LOWELL MILL GIRLS SOUTHERN NEW ENGLAND FIRST U.S.

MAJOR MANUFACTURING CENTER

FACTORIES RUN ON WATER POWER

MID 1820’S – LOWELL GIRLS WORK IN FACTORIES

COMPARED TO EUROPE CONDITIONS RELATIVELY GOOD INITIALLY

AS VORACIOUS APPETITE FOR COTTON CLOTHING SKYROCKETS DEMANDS FOR PRODUCTION INCREASE, SO DOES PRESSURE TO PERFORM & CONDITIONS DETERIORATE

STRIKES 1834 & 1836

KING COTTON MOST IMPORTANT INDIRECT EFFECT OF

INDUSTRIALIZATION OCCURRED IN THE SOUTH

INDUSTRY, TRANSPORTATION & IMPROVED AGRICULTURAL YIELDS LED TO SPECIALIZATION OF CROPS – COTTON

EXCHANGE NETWORK ENCOURAGED REGIONAL CONCENTRATION & DEVELOPMENT OF CREDIT & GROWTH OF BANKS (MORE LATER)

DEMAND FOR COTTON ASTRONOMICAL

COTTON GIN 1793 SOLIDIFIES SLAVERY IN THE SOUTH

1820 ½ COTTON FROM ALA & MISS

BLACK BELTS – SLAVERY MOVES WEST ALABAMA FEVER

1830 $50/ACRE; 2/3 AMERICAN EXPORTS – COTTON

COTTON STIMULATES REST OF ECONOMY

NORTH CONTROLS COTTON ONCE IT LEAVES PLANTATION & SOUTH RESENTS THENORTH – TENSION

MISSOURI COMPROMISE, PROPERTY RIGHTS, VIRGINIA SELLS 6K 1832

SLAVE PRICES DOUBLE, INTERSTATE SLAVE TRADE FLOURISHES