From Barter to Big
Business
Economic Growth Along the
Hudson River
4th Grade
New York Then
Hudson River
 Native Americans used
for travel
 Henry Hudson
discovered in 1609
 Philipse’s used for trade
 British tried to take over
river to separate the
colonies
 Still used for commerce
Barter
 Means trade
 Direct exchange of
goods without money
 Before money barter
used
Barter and the Triangle of
Trade
The Manor
Europe

Trade route connecting Americas, Europe, and
Africa

Example:
North America wanted Enslaved Africans
to work
Enslaved Africans traded to West Indies
North Americans trade grain for slaves
Guns and metal goods trade to African
tribes for prisoners
Grains and furs traded to Europe for metal

•
If you draw this route, it looks like a triangle,
hence the name, the Triangle of Trade.
Mrs. Philipse owned the shipping business. She and
Mr. Philipse were both merchants!
West
Indies
Africa
http://www.history.ucsb.edu/faculty/marcuse/classes/2c/images/1700sMapTriangleTrade$Goucher491-72dpi550pxw.jpg

When people invented money,
it allowed for getting what you
want without trading valuable
items that you owned.

Banks were allowed to print
their own money.

The $10,000 bill is the largest
bill. Most are kept in museums.

Currently, the $100 bill is the
largest currency note in
circulation.

Money goes back to 2200 B.C.

Early money includes shells,
beads, stones, and furs.

The first coins were invented
in the 700 B.C. by people in
Turkey.
Money
Specialization
 People only produce
some of the goods and
services they consume.
 It increases the amount
of goods and services
used.
 A doctor specializes in
taking care of and
helping people.
 A blacksmith specializes
when working with iron.
Shopkeepers
 specialized in a
particular item
 allowed consumers
to have a greater
variety of goods
 This system was
helped by the use of
money.
Industrial Revolution
 The Industrial Revolution was
underway by the early 1850’s.
 Machines helped workers
make goods faster and in
greater numbers.
 Sewing machines were an
example of a product created
during this time.
 The most popular one was
built in 1851 by a New Yorker
named Isaac Singer. It made
sewing clothing much easier
and faster.
Big Business
 After the Civil War,
industries in New York grew
very fast.
 In the 1800’s, more people
started to work for others.
 Since more people kept
inventing better ways to
make trains, railroads
became a big business.
 Railroads helped transport
more goods quicker.
 Jay Gould was in control of
half the railroad mileage in
the Southwest New York.
Stock Market
 A stock market is
where stocks are sold.
 Each year people buy
and sell billions of
stocks.
 Stocks are certificates of
ownership.
New York City Now