History 2311
Southern Methodist University
Spring 2011
THE MARKET REVOLUTION: TRANSPORTATION, COMMERCIALIZATION, AND
INDUSTRIALIZATION
Market Revolution: the transition from a subsistence and barter economy to a cash economy
of buying and selling goods, services, and labor.
I.
TRANSPORTATION
A.
Better roads
1.
B.
C.
II.
III.
National Road: reached Vandalia, Illinois by 1839
Improved Water Transport
1.
Erie Canal: started in 1817, opened in 1825
2.
Steamboat: Invented by Robert Fulton in 1807
Invention and spread of railroads
1.
Baltimore and Ohio Railroad opened in 1830 with 13 miles of tracks
2.
By 1860, 31,000 miles of track
3.
Demand for rails forced modernization of America’s iron industry
THE OLD NORTHWEST
A.
Huge population boom after opening of Erie Canal
B.
Yankees from New England at least 40% of population
C.
Commercial agriculture
D.
Regional specialization
TECHNOLOGY
A.
New agricultural tools
1.
John Deere’s steel plow (1837)
2.
IV.
V.
VI.
Cyrus McCormick’s reaper (1834)
B.
Patent office and legal protection
C.
“The American System of Manufactures”
1.
development of standardized parts
2.
revolutionized production of everything from nails to clocks
3.
High-quality goods for ordinary people
URBANIZATION
A.
St. Louis
B.
Chicago – 100,000 people between 1840 and 1860
CAPITALIZATION AND COMMERCIALIZATION
A.
Southern cotton provided capital for continuing development
B.
Enormous growth in cotton exports fueled northern wealth
C.
Northern shippers, traders, merchants invested in textile mills, iron mines,
metalworks
INDUSTRIALIZATION
A.
Putting-Out System
B.
The power loom
C.
The Lowell Mills
D.
Impact on Society and Culture
E.
1.
Proportion of wage laborers rose from 12% in1800 to 40% by 1860
2.
Skilled male workers faced threats to status and independence
3.
More regimented schedules
4.
Free labor
Early Strikes