Book Notes- Chapter 8 - Chapter 8 Creating a Republican...

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Chapter 8- Creating a Republican Culture Sunday, October 14, 2007 9:11 PM 1. The Capitalist Commonwealth i. Capitalism: using the power of the republican government to solidify  capitalist cultural values and create a dynamic market economy i. Banks, Manufacturing, and Markets i. Banking and Credit     1. Bank needed for merchants 2. Federalists chartered the First Bank of the US 3. Jeffersonian Republicans opposed it 4. Business cycle: periodic expansion and contraction of  production and employment ii. Rural Manufacturing     1. Merchants bought raw materials, paid workers to process  them, sold the finished materials in regional/national markets iii. The Environmental Impact of Early Industry     1. Destruction of trees, production of pollution ii. Transportation Bottlenecks and Government Initiatives i. Water transport was quickest and cheapest ii. Charters granted to turnpike companies iii. Public Policy: the Commonwealth i. State mercantilism encompassed much more than transportation ii. Commonwealth system funneled state aid to private businesses 
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