United States History_Martz_Date_042010

United States History_Martz_Date_042010 - CHAPTER TEN The...

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CHAPTER TEN: The Opening of America (1815-1850) THE MARKET REVOLUTION After the War of 1812: -U.S. entered a period of unprecedented economic expansion -U.S. did not have to rely on international trade -capital flowed into the U.S. that had been stored up in Europe THE NEW NATIONALISM New Nationalism was a set of economic policies designed to help all regions prosper and bind the nation more tightly together Madison saw the need for increased financial activity: -Second Bank of the U.S. was chartered in 1816 to end financial crisis -Mild protective tariff was placed on foreign goods to aid American industries -Internal improvements to help move troops or supplies overland THE COTTON TRADE By 1840, South produced more than 60% of the world supply, and cotton accounted for almost 2/3 of all American exports THE TRANSPORTATION REVOLUTION The only way to transport goods had been by water -limited trade to coastal and international markets -goods only move easily in one direction: downstream 1825-1855: -cost of transportation on land fell 95% and speed increased fivefold Erie Canal: -built between 1818-1825; stretched 364 miles from Albany to Buffalo -reduced cost of shipping; towns sprung up thrived by moving goods Steamboats (invented by Robert Fulton in 1807): -reduced the time of an upstream trip from 90 to 8 days and cut costs by 90%
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This note was uploaded on 08/30/2010 for the course HIST 205 taught by Professor Holyfield during the Spring '08 term at University of Delaware.

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United States History_Martz_Date_042010 - CHAPTER TEN The...

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