https://padlet.com/nlynch47/1btdhut0g0p8vild Evelyn, Stella, Ishr Directions: Use evidence from the article to create a timeline showing the progression of events that formed the American Economy. en-us 2021-03-05 00:43:39 UTC 2021-03-12 17:43:49 UTC hello@padlet.com jm1002184 https://padlet.com/nlynch47/1btdhut0g0p8vild/wish/1303368805 Declaring independence from Britain allowed for the United States to create its own government and economy ]]> 2021-03-12 16:56:50 UTC https://padlet.com/nlynch47/1btdhut0g0p8vild/wish/1303368805 https://padlet.com/nlynch47/1btdhut0g0p8vild/wish/1303372047 Gave the federal government the power to issue money rather than the states themselves. This was to create a strong national currency for their economy]]> 2021-03-12 16:57:32 UTC https://padlet.com/nlynch47/1btdhut0g0p8vild/wish/1303372047 https://padlet.com/nlynch47/1btdhut0g0p8vild/wish/1303375091 Eight out of ten Americans lived on farms when George Washington became the first president of the United States in 1789.]]> 2021-03-12 16:58:13 UTC https://padlet.com/nlynch47/1btdhut0g0p8vild/wish/1303375091 https://padlet.com/nlynch47/1btdhut0g0p8vild/wish/1303382823 11 southern states bonded together and created the confederate states of america. The civil war then took place and slavery was abolished. Slavery impacted the economy. After the war, the agriculture economy of the South switched from a plantation system to one of tenant farming. Former African-American slaves and rural whites lived in poverty for most of a century afterward.

]]> 2021-03-12 16:59:53 UTC https://padlet.com/nlynch47/1btdhut0g0p8vild/wish/1303382823 jm1002184 https://padlet.com/nlynch47/1btdhut0g0p8vild/wish/1303387608 During Washington's eight years in office, two rival political parties formed creating an economic controversy for years to come]]> 2021-03-12 17:00:58 UTC https://padlet.com/nlynch47/1btdhut0g0p8vild/wish/1303387608 en1004631 https://padlet.com/nlynch47/1btdhut0g0p8vild/wish/1303402608 Congress passed the first national tax system in 1861, issuing a national paper currency that payed for public land and construction .]]> 2021-03-12 17:04:09 UTC https://padlet.com/nlynch47/1btdhut0g0p8vild/wish/1303402608 https://padlet.com/nlynch47/1btdhut0g0p8vild/wish/1303407460 The construction of the first railroad connecting the Atlantic and Pacific coasts in 1869 allowed for the growth of a true national economy capable of competing on equal footing with Europe and Asia.]]> 2021-03-12 17:05:08 UTC https://padlet.com/nlynch47/1btdhut0g0p8vild/wish/1303407460 jm1002184 https://padlet.com/nlynch47/1btdhut0g0p8vild/wish/1303418034 After the Civil War ended, so did slavery, but many faced poverty along with the white people since they relied so heavily on these slaves to make their money]]> 2021-03-12 17:07:20 UTC https://padlet.com/nlynch47/1btdhut0g0p8vild/wish/1303418034 en1004631 https://padlet.com/nlynch47/1btdhut0g0p8vild/wish/1303423409 Eli Whitney’s cotton gin, John Deere’s steel plow and Cyrus McCormick’s mechanized grain reaper tremendously improved farming productivity. "From 1800 to 1890, the typical time required for a farmer to produce 100 bushels of wheat plunged from about 300 hours to roughly 50." ]]> 2021-03-12 17:08:19 UTC https://padlet.com/nlynch47/1btdhut0g0p8vild/wish/1303423409 https://padlet.com/nlynch47/1btdhut0g0p8vild/wish/1303426585 The average time it took a farmer to grow 100 bushels of wheat fell from around 300 hours to around 50.]]> 2021-03-12 17:08:59 UTC https://padlet.com/nlynch47/1btdhut0g0p8vild/wish/1303426585 https://padlet.com/nlynch47/1btdhut0g0p8vild/wish/1303432379 Manufacturing and industrial production in the United States had exceeded farm output in value. New factories and railroad lines emerged as a result of European financial backing.]]> 2021-03-12 17:10:12 UTC https://padlet.com/nlynch47/1btdhut0g0p8vild/wish/1303432379 jm1002184 https://padlet.com/nlynch47/1btdhut0g0p8vild/wish/1303440387 In the 19th century there were many inventions including Samuel Morse's telegraph, Alexander Graham Bell's telephone, and Thomas Edison's lightbulb, phonograph, and systems for distributing power to homes and businesses.]]> 2021-03-12 17:11:51 UTC https://padlet.com/nlynch47/1btdhut0g0p8vild/wish/1303440387 https://padlet.com/nlynch47/1btdhut0g0p8vild/wish/1303441618 Franklin D Roosevelt won the 1932 election and enabled passage of a “New Deal” economic program. He temporarily shut down all banks and a few days later allowed reopening of the solvent ones strong enough to survive, effectively ending the runs on banks.

]]> 2021-03-12 17:12:05 UTC https://padlet.com/nlynch47/1btdhut0g0p8vild/wish/1303441618 https://padlet.com/nlynch47/1btdhut0g0p8vild/wish/1303448316 There was a stock market crash in the late 1920's where prices collapsed causing around 40 percent of banks to close down leading to many losing all their saving in their accounts But before this, in the early 1920's, there was a large economic expansion.]]> 2021-03-12 17:13:27 UTC https://padlet.com/nlynch47/1btdhut0g0p8vild/wish/1303448316 https://padlet.com/nlynch47/1btdhut0g0p8vild/wish/1303454537 To collect revenue and protect American manufacturers of glass, pottery, and other products, the first Congress introduced tariffs.]]> 2021-03-12 17:14:41 UTC https://padlet.com/nlynch47/1btdhut0g0p8vild/wish/1303454537 en1004631 https://padlet.com/nlynch47/1btdhut0g0p8vild/wish/1303455247 The first U.S. central bank charted since 1830s]]> 2021-03-12 17:14:49 UTC https://padlet.com/nlynch47/1btdhut0g0p8vild/wish/1303455247 jm1002184 https://padlet.com/nlynch47/1btdhut0g0p8vild/wish/1303459784 In 1870 there was an economic recession due to debt-ridden farmers in the South and West suffering from tight credit and falling material prices.]]> 2021-03-12 17:15:47 UTC https://padlet.com/nlynch47/1btdhut0g0p8vild/wish/1303459784 https://padlet.com/nlynch47/1btdhut0g0p8vild/wish/1303474608 The Tennessee Valley Authority (TVA) is a federally chartered corporation that was formed to regulate flooding and produce electricity in a low-income area of the South.]]> 2021-03-12 17:18:37 UTC https://padlet.com/nlynch47/1btdhut0g0p8vild/wish/1303474608 jm1002184 https://padlet.com/nlynch47/1btdhut0g0p8vild/wish/1303507184 During World War ll, American industry worked to help. Factories supplies war materials to U.S. forces]]> 2021-03-12 17:25:31 UTC https://padlet.com/nlynch47/1btdhut0g0p8vild/wish/1303507184 en1004631 https://padlet.com/nlynch47/1btdhut0g0p8vild/wish/1303509002 The overbuilt housing market crashed in 2007, leading to a financial crisis in 2008. Unemployment soared up to 10 percent in 2009, moving to 8.8% by March 2011]]> 2021-03-12 17:25:57 UTC https://padlet.com/nlynch47/1btdhut0g0p8vild/wish/1303509002 https://padlet.com/nlynch47/1btdhut0g0p8vild/wish/1303516161 America fought in a costly war In Afghanistan and Iraq.  Meanwhile, the cost of providing health care to Americans had increased drastically, putting pressure on the federal, state, and local governments.]]> 2021-03-12 17:27:29 UTC https://padlet.com/nlynch47/1btdhut0g0p8vild/wish/1303516161 https://padlet.com/nlynch47/1btdhut0g0p8vild/wish/1303530394 During Reagan's presidency, there were tax cuts and business deregulation which created a rise in stocks and an economic expansion. This caused the gap between the wealthy and the poor to grow rapidly.]]> 2021-03-12 17:30:29 UTC https://padlet.com/nlynch47/1btdhut0g0p8vild/wish/1303530394 jm1002184 https://padlet.com/nlynch47/1btdhut0g0p8vild/wish/1303531880 President Lyndon B. Johnson pressed Congress to expand  sharply the social safety net by passing Medicare and Medicaid government health insurance programs for the old and poor. Gov implemented other policies to eliminate poverty by improving education and housing.]]> 2021-03-12 17:30:48 UTC https://padlet.com/nlynch47/1btdhut0g0p8vild/wish/1303531880 jm1002184 https://padlet.com/nlynch47/1btdhut0g0p8vild/wish/1303539268 Strong economic expansion, increased prosperity and stock market speculation]]> 2021-03-12 17:32:23 UTC https://padlet.com/nlynch47/1btdhut0g0p8vild/wish/1303539268 https://padlet.com/nlynch47/1btdhut0g0p8vild/wish/1303554450 The Vietnam War wreaked havoc on the American economy. President Johnson, unwilling to increase taxes to pay for the war, which unleashed a wave of inflation.]]> 2021-03-12 17:35:43 UTC https://padlet.com/nlynch47/1btdhut0g0p8vild/wish/1303554450 en1004631 https://padlet.com/nlynch47/1btdhut0g0p8vild/wish/1303560230 The Korean War being just 3 years cost the United States 389.81 billion dollars]]> 2021-03-12 17:37:04 UTC https://padlet.com/nlynch47/1btdhut0g0p8vild/wish/1303560230 jm1002184 https://padlet.com/nlynch47/1btdhut0g0p8vild/wish/1303560251 In 2007, many houses were builtresulting in the housing market crash. In 2008, the financial crisis occurred, spreading to various places around the world.]]> 2021-03-12 17:37:04 UTC https://padlet.com/nlynch47/1btdhut0g0p8vild/wish/1303560251 https://padlet.com/nlynch47/1btdhut0g0p8vild/wish/1303561912 The economy was very reliant on imports and exports with other countries]]> 2021-03-12 17:37:26 UTC https://padlet.com/nlynch47/1btdhut0g0p8vild/wish/1303561912 https://padlet.com/nlynch47/1btdhut0g0p8vild/wish/1303572934 The North continued its rapid industrialization while the south struggled to get back on their feet after the war. This was also a time period where the American economy was less dependent of trade.]]> 2021-03-12 17:39:48 UTC https://padlet.com/nlynch47/1btdhut0g0p8vild/wish/1303572934