Chapter 8 Notes.pdf - The Capitalist Commonwealth Banks Manufacturing and Markets \u25a0 Banking and Credit \u25cf 2\u200bnd\u200b BUS was Chartered in 1816 for 20

Chapter 8 Notes.pdf - The Capitalist Commonwealth Banks...

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The Capitalist Commonwealth - Banks, Manufacturing, and Markets Banking and Credit: 2 nd BUS was Chartered in 1816 for 20 years Panic of 1819: state banks over-issued notes, over speculation on Western land Growing distrust of banks (2 nd BUS) emerged Rural Manufacturing: Merchants were especially hard hit from the Panic More and more of manufacturing moved from homes to factories New England and the West focused on livestock – Cincinnati Forests were removed in many areas of the North Textile mills were built around water The Transportation System: Turnpikes – toll roads increased (Lancaster Turnpike) Connected interior to coasts – increased trade Public Enterprise: The Commonwealth System: Under John Marshall, the Supreme Court ruled in favor of expanding business (eminent domain); state legislatures followed Commonwealth System – providing government aid to private businesses Toward a Democratic-Republican Culture Opportunity and Equality – for White Men: The US was unique in the world – no aristocratic families However, there were numerous laws that restricted rights based on race and gender Toward Republican Families: Mercy Otis Warren – argued against patriarchy Republican Marriages: More marriages were based on love, fewer arraigned marriages
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