Market Revolution 1820-1830s by Jordan Head

Treaty of Ghent, 1814

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(Ended the War of 1812)

1831: Cyrus McCormick invented the mechanical reaper to harvest wheat in ⅓ of the time it used to take

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John Deere invented the steel plow, 1837

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New states added to the Union 1800-1848: Ohio, Louisiana, Indiana, Mississippi, Illinois, Alabama, Maine, Missouri, Arkansas, Michigan, Florida, Texas, Iowa, Wisconsin

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Rise of Nativism (dislike or even hatred of “non-natives” aka foreigners/immigrants) leads to the formation of the “American Party”

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Number of state chartered banks

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1820: 266

1840: 702

Panics (economic downturns similar to depressions) in 1819, 1837, 1857

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Over 30,000 miles of railroads by 1860

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State funded transportation projects

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B&O Railroad chartered by Maryland gov to compete with the Erie Canal (1828)

Erie Canal (New York, 1825)

By 1840, Ohio had built 2 canals linking Lake Erie & the Ohio River

1843: Samuel Morse convinces Congress to fund a telegraph line from DC to Baltimore. It was successfully tested in 1844.

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Number of cities with over 100,000 inhabitants

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1820: 1 (New York City)

1850: 6 (NYC, Baltimore, Boston, Philadelphia, New Orleans, Cincinnati)

St. Louis, Cincinnati and Ohio become rival manufacturing centers threatening to surpass New England

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The Boston Manufacturing Corporation becomes the first industrial corporation in the US in 1813

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Dartmouth v Woodward (1819): The Supreme Court upheld the rights of private parties & ruled that state governments cannot interfere with contracts

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McCulloch v Maryland (1819): Supreme Court ruled the National Bank was constitutional & that states cannot pass laws that impede/inhibit government laws or institutions.

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By 1840, over 200 steamboats trade up and down western rivers

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Henry Clay proposes his American System to promote economic nationalism & tie the regional economies together:

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A tariff on foreign goods in order to support American manufacturing & industry
A National Bank to establish credit, provide loans & stabilize the economy
Internal improvements/infrastructure funded by the government (roads, canals, etc) -vetoed by Pres. Monroe

1811: Congress approves the building of the National Road, the first major highway built by the US government. It connected the Potomac and Ohio Rivers (Maryland to Illinois)

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By the 1830s, new political parties emerged

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By 1832, textile companies made up 88 out of 106 American corporations

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The slave population grows from 700,000 in 1790 to more than 1.5 million by 1820

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In 1836, “mill girls” in Lowell, Massachusetts go on strike after wage cuts

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American cotton exports rose from 150,000 bales in 1815 to 4,541,000 bales in 1859

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1816: Congress establishes the Second Bank of the United States

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1816: Congress signs a protective tariff to support American manufacturing, especially of cotton textiles

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1814: the first large-scale, modern factory is built in Massachusetts

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Between 1820 and 1850: 3 million Irish & German immigrants settle in northern cities & the midwest

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1840s: 180,000 immigrants per year

1850s: 240,000 immigrants per year

1819 Missouri Compromise: admitted Missouri as a slave state and Maine as a free state in order to maintain a balance between free and slave states in Congress (why would Missouri be a slave state?)

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Commonwealth v Hunt (1842): The Supreme Court ruled that labor unions were legal

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1842: Massachusetts passed a law forbidding children under 10 from working more than 10 hours a day

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1833: The American Anti-Slavery Society is founded in Philadelphia

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By 1850, the average factory or mill worker worked 12 hours per day

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The number of newspapers increased from 940 in 1830 to over 1,600 in 1840.

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1829: Lydia Maria Child publishes her book The Frugal Housewife (frugal means being thrifty or saving money/resources)

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Wealth Distribution

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1820: the richest 10% of Americans own 50% of the country’s wealth

1840: the richest 10% of Americans own 55% of the country’s wealth

1845: the richest 1% of Americans own 40% of the country’s wealth

Non-farm labor force (people employed in something other than farming/agriculture

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1820: 17.1% of the population

1840: 36.6% of the population

1841: Catharine Beecher publishes the first edition of The American Woman’s Home to instruct women on their role in the middle class home & child raising

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Patents issued

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1800: 41

1860: 4,357

Causes

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Effects

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Industry

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Rights

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Innovation

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Politics

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Industry

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Rights

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