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Early Development of the American Economy,

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Chris Wood

on 23 October 2014

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Transcript of Early Development of the American Economy,

Early American Economy
Early Development of the American Economy
This is the early development of the American economy
National Market
The Cotton Gin
In 1794, Eli Whitney invented t Cotton Gin. The cotton Gins original purpose was to reduce slavery with more production per slave in mind. This idea immediately back fired. Now that cotton could be produced even faster, more slaves were put into plantations on the cotton gins. The idea of Miller and Eli making profiting from the cotton gins in other people farms didn't appeal to anyone but Eli and Miller. These farmers would then take the models of the cotton gin they received and reconstruct they're own more efficient models.
The Mechanical Reaper
The reaper was a horse drawn implement invented by Cyrus Hall McCormick in 1831 to cut small grain crops. The mechanical reaper replaced the manual cutting of the crop with scythes and sickles. Developed to cut down wheat more quickly and efficiently. This was opposed to manually reaping with a blade or scythe which was less productive
The early American economy was characterized by smaller, local markets, centered around big cities. The vast expansion of the railroads in the late 1800's changed this, tying the country together into one national market, in which goods could be shipped for sale across the country. The railroads also provided large economic growth because they themselves provided such a massive market for goods - steel and limber, for example. In the 19th century the railroads represented the first "Big Business." the railroad industry was the largest single employer of labor in the U.S., and helped standardize America economically, socially, and culturally.
The Steel plow
The steel plow was invented by John Deere. Its purpose was to break up tough soil with out soil getting stuck to it. This invention was greatly needed in the American Westward Expansion, where the land sold to farmers to move out west was incredibly tough to farm on. John Deere realized this and made his first plow out of n old blade saw. He then did different tests on soil. Many problems prevented the making of the steel plows. Steel was hard to find. In the beginning steal had to come from Great Britain. Ten years after first plow was made. Deere's company was making 1000 plows per year
Invention of the Telegraph
In 1830, an American, Joseph Henry, demonstrated the potential of Williams Sturgeon's electromagnet for long distance communication by sending an electronic current over one mile of wire to activate an electromagnet which caused a bell to strike.
In 1837, British Physicists, William Cooke and Charles Wheatstone patented the Cooke and Wheatstone telegraph using the same principle of electromagnetism.
However, it was Samuel Morse that successfully exploited the electromagnet and bettered Joseph Henry's invention. Morse made sketches of a "magnetized magnet" based on Henry's work. Morse invented a telegraph system that was a practical and commercial success
Cotton Kingdom
The south took a very different economic course than the North. After the Revolution, when tobacco income plummeted, cotton reinvigorated the stagnant southern economy. The widespread use of the cotton gin, invented by Eli Whitney in 1793, made cotton plantations efficient and profitable. The demand for cotton also grew because of the developing textile industries in the North and i Britain. Cotton plantations spread across the south, and by 1850, the southern U.S grew more than eighty percent of the worlds cotton. The south became a veritable "Cotton Kingdom," remaining rural and agrarian while the North became industrialized. Rich plantation owners saw little reason to spend their capital on risky industrial projects when cash crops brought in a large, steady income.
Navitism
Nativism, in general, refers to a policy or belief that protects or favors the interest of the native population of a country over the interests of immigrants. In the United States, greatest Nativist sentiment coincided with the great waves of 19th century European immigration on the East Coast and, to a lesser extent, with the arrival of Chinese immigrants on the West Coast.
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