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Growth and Expansion

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Christine Cavedon

on 31 March 2014

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Transcript of Growth and Expansion

Invention of New Machines & Technology change the way things are made
Growth of factories and trade led to the development of corporations and cities
Changes how we make money and do business
In a free enterprise economy business owners have freedom to produce items they feel will make a profit and buyers can compete to find the best products at the lowest prices.
New Technology
Industrial Revolution
Economic Independence
Patents and Factories
:
1790 Congress passes a law to protect inventors
a
patent
gives an inventor the sole legal right to an invention and its profits
Samuel Slater brings British technology to America to run a cotton mill in Rhode Island - made cotton into thread
Francis Cabot Lowell created a textile plant in MA - he began the
factory system
where all manufacturing steps are brought together in one place
Free Enterprise
:
American Economy economic system where competition can flourish
people are free to buy, sell, work, and produce whatever they like
Capitalism
- economic system of the U.S. - individuals put their
capital
or money into a business hoping for a profit
4
elements
or parts
competition
profit
private property
economic freedom
Shopkeepers, merchants, and farmers (small investors) financed new businesses in the hopes of earning profits
encouraging people to invest in new industries were:
low taxes
minimum government
regulations
competition

Industrial Revolution
1790 - 1825
Chapter 10 Section 1
What effects did the Industrial Revolution have on the U.S. Economy
Economic Growth:
Agriculture expanded and remained the leading occupation of most Americans in 1800s
Agriculture Expands
cotton gin:
machine that removed the seed from cotton fiber - cleaned the cotton

interchangeable parts
:
identical machine parts

patent
:
gives inventor the sole legal right to an invention and its profits

f
actory system:

all manufacturing steps are brought together in one place

Capitalism
:
the economic system of the United States

capital:
money

free enterprise:
also used to describe the American economy - people are free to buy, sell, work, and produce whatever they want

elements:
parts of something

contribute:
added to something
Northeast:
farms are small
worked by families
marketed produce locally
Growth and Expansion
Vocabulary
Industrial Revolution!!

People are leaving their homes and farms
to work in the mills and earn wages!!
The Growth of Industry
Industrial Revolution in New England
In 1800, New England shows first signs of the Industrial Revolution. Four reasons why geography
contributed
to the development:
poor soil
rivers and streams provide waterpower for factories
abundant coal and iron
ports for shipping raw materials and trade goods
Inventors revolutionize the textile industry!
New Technology
spinning jenny water frame power loom
cotton gin
James Hargreaves Richard Arkwright Edmund Cartwright
Eli Whitney

multiple spinning machine water powered spinning wove thread into cloth cleans cotton - removed
frame seeds from cotton
* used
interchangeable parts


South
:
demand for cotton grew
steadily
supplied the cotton to the textile
industries in New England
plantation owners used slaves
Africa to plant, tend, pick cotton
cotton gin allowed larger crops
1790-1820 production went from
3,000 bales to 30,000 bales per yr
West:
southern farmer seeking
new land moved West
north of Ohio River - raised
pork and cash crops such
as corn and wheat

Corporations Develop
corporations (large businesses) made it easy sell stocks (shares of ownership) to finance improvement & development
Cities Come of Age
Economic Independence
Cities developed along rivers because factories could take advantage of water power
Centers of commerce and Trade:
New York
Boston
Baltimore
buildings made of wood or brick
barnyard animals roamed free
cholera and yellow fever dangers because there were no sewers to carry away waste
fire threatened building made of wood
offered many opportunities such as jobs and steady wages
libraries, museums, shops provided ways for people to enjoy themselves
Mill Times - PBS
Children of the Revolution
Crash Course - "Bigger Picture"
Full transcript