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Impact of industrialization on the american economy and society from 1865-1920
The market revolution essays
American industrialization history
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When George Washington was president, in 1792, the New York Stock Exchange was founded when 24 stockbrokers and merchants signed an agreement in New York under a buttonwood tree on Wall Street. During the mid- to late 1920s, the stock market in the United States underwent rapid expansion. It continued for the first six months following President Herbert Hoover's inauguration in January 1929. Here are the top five reasons for the stock market crash; 1)Banks participating in stock market 2) Undefined or overflowing margins 3) over stimulation of the market 4) A process (that is now illegal) of inflating a stock in order to sell it, and then backing out, causing the stock value to plummet 5) Poor investment decisions on the part of
Due to theses new products, changes needed to be made in prices. This led to the Commercial Revolution which was a dramatic increase in general commerce and also the growth in financial services. With the new advancements
The market revolution had a tremendous impact on many regions in the U.S., most notably the South and Northeast. The market revolution is a term used by historians to describe the expansion of the marketplace that occurred between 1815 and 1830, prompted mainly by major transportation improvements and various unique inventions to connect distant communities together for the first time. The South developed and thrived mainly from the cotton gin and the expansion of slavery. The Northeast flourished and bloomed from the factory system, interchangeable parts, transportation improvements, and women in the work force. The market revolution impact on the South and Northeast brought about widespread economic growth yet affected the regions differently, the South shifted from subsistence farming to commercial farming and the Northeast grew in mechanization and industrialization.
The working force was already at a maximum and at the peak of what it could be so now there was a need for improvements in other areas such as communication and marketing. New inventions were created in this era such improvements in printing technology and other communication technology. These inventions in technology and communication are what created the market revolution in the Jacksonian era. Overall the biggest result of this revolution was the change from an agrarian society to a capitalistic one. This is what took the world out of the Stone Age and propelled the nation to soar past other nations in terms of capitalism.
Kimberly Centers Ruth Turpin History 16 November 2014 Market Revolution "The onward spirit of the times must have its way. . . . And therefore, railroads and locomotive steam cars—the offsprings, as they will also be the parents, of progressive improvement—should not, of themselves, be considered as nuisances. " - They said it (Shmoop.com) The Market Revolution marked a historical period which was not only a time of political change, but great economic and industrial advancements. During this period improvements in transportation, manufacturing, and communication were made.
The Market Revolution affected the society of the United States by giving much wealth to the few rich, creating a sizeable middle class, and making the large lower class suffer even
The Market Revolution was a big turning point for the United States in Economic developments for many reasons. The shift from agriculture to more factory life was a huge part in which women were now being sent into the labor force. As well as the idea that people now shifted from the idea of self employment to a boss telling the workers what to do. The South however was more reliant on farming due to the fact that they were slave owning states so their shift to industrialization was not as strong as the North. They did still however receive new and more efficient tools to help with farming such as the metal plow and the cotton gin.
The industrial Revolution can be described as a change in the way produce were manufactured and exchanged, as American industrialists between 1865 and 1915 used advancing industrial innovations and expenditure to convey better productivity to their industries, that noticeably increased their merchandise and their capability
The Market Revolution of the 19th century effected America in many ways: it socially affected women, changed America's economy, and changed the modern political argument of the people. This revolution created the landscape for the women's rights movement by giving women rights such as the right to work and leave their homes. It changed America's economy using cotton as its new resource for trade throughout the world which eventually leads to a political advancement and rise of the American power due to its newly founded economic growth. The Market Revolution socially affected women, the way women are viewed in society, and the rights of women.
The processes that made the Market Revolution of 1800-1840 possible were the spread of market relations, the movement of the population towards the West, and the rise of political democracy. The Market Revolution saw innovations in transportation and communication. For example, the telegraph, invented by Samuel F. B. Morse, made instantaneous communication possible. Moreover, the combination of the recently invented steamboats, railroads and telegraph lowered transportation costs, opened new land to settlements, and made it easier for enterprises to sell products. Additionally, the introduction of the railroads stimulated the market for coal, used as fuel, and for iron, used to build rails.
In the late nineteenth century there were many key technological developments the account for the American industrial growth. Technological developments were not the only thing that contributed to the rise of the American industry: raw materials, labor supply, entrepreneurs, federal government, and and an expanding domestic market. Although there were many contributing factors, technological development was one of the principal sources to industrial growth in the late-nineteenth century. In the late 1800’s Cyrus Field created a transatlantic telegraph cable to Europe and in the next ten year Alexander Graham Bell developed the first telephone taking the communication era to new heights.
The Market Revolution caused major changes to America and the economy. More Americans moved to larger cities to find work in factories and warehouses. Urbanization of the North was expanding rapidly, and some cities tripled in size due to the sudden influx of farmers and immigrants.
Sarah Mitchell Dr. Burns US History 207 February 25, 2023 Between 1820 and 1840, a Revolution occurred in American life. In what ways was the "Market Revolution" more or less important than the American Revolution? The Market Revolution was a huge factor to what our world is like today. The way in which we work, how much money we get paid, and how long we work for all stem from the Market Revolution.
(189). " Before the market revolution in transportation, farming, and goods, families used to work for themselves at their farms, and exchange goods among their neighbor; all without the need for money. Nevertheless, the market revolution changed that, it contributed toward the production of goods that was now being manufactured increasing outside the home. And at the moment, they started exchanging money for goods, providing for the growth of the economy.
Industrial advances such as interchangeable parts allowed factories to easily replace parts on machines that broke down. This system of interchangeable parts, or the “American System of Manufacturing”, also allowed entrepreneurs to mass produce inventions with great speed, attracting investors. The amount of advantages the new system of machines had greatly surpassed the old system of manual labor in both productivity and profit. After Samuel F. B. Morse sent the first telegraph message, telegraph lines started connecting the entire country, giving businesses access to fast communication and further increasing economic productivity brought about by technology. Both agriculture and manufacturing were significant during this time, but nothing was more eye-opening to the economy than
