Econ.113.2.27.08

Econ.113.2.27.08 - population-1845 Boston top 4% owned over...

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Resourcefulness & Experimentation - Americans were willing to try anything - They were first copiers, then innovators - 1800 41 patents were approved - 1860 4,357 John deere steel plow 1837 Cyrus McCormick and the Mechanical Reaper:1831 Samuel F. B. Morse- 1840 Telegraph Cyrus Field- 1858 transatlantic cable The “American Dream” - They all regarded material advance as the natural fruit of American republicanism and proof of the country’s virtue promise Boom/Bust Cycles: 1790-1860 Distribution of Wealth - During the American Revolution, 45% of all wealth in the top 10% of the
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Unformatted text preview: population-1845 Boston top 4% owned over 65% of wealth-1860 Philadelphia top 1% owned over 50% of the wealth-The gap between the rich and poor was widening Samuel Slater- Father of Factory System The Iron Horse Wins 1830-1830 13 miles of track built by Baltimore and ohio RR-1850 9000 mi. of RR track (1860 31,000) The Railroad Revolution1850s-Immigrant labor built the north RRs-Slave labor built the south RRs Regional Specialization-East Industrial-South Cotton and Slavery-West The Nations Bread basket...
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Econ.113.2.27.08 - population-1845 Boston top 4% owned over...

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