Second Exam- Essay Question # 2

Second Exam- Essay Question # 2 - Gaurav Singh 2. Beginning...

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Gaurav Singh 2. Beginning about 1810, the economy and society of the northeastern United States were profoundly changed by the industrial revolution. The rapid development of capitalism in the United States depended upon both the initiative of entrepreneurs and the support of federal and state governments. Discuss the role of government in promoting U.S. economic development between 1790 and 1850. The role of government and business enterprise in the promotion of economic development 1) Republican Economy A republic is a government or state without a monarch that derives authority and legitimacy from the people. Republican ideals were employed to broaden the franchise, increase social and geographic mobility, reorganize families, and democratize education, institutions, and professions. Everywhere, the "ordered liberty" of elitism, hierarchy, and tradition was in retreat. (see notes) For the first time in history Private transactions are seen as socially legitimate and they are backed by the state at a federal and local level. There are certain social expectations within the US. The government was expected to distribute Public domain to the people . It meant that at large the public thought that it was the government’s job for the land to be used, farmed lived upon. They did that by expelling the Indians and Mexicans from land. The society expected the government to facilitate transportation of bring goods to market. The society was also content with paying taxes that would support internal improvements. 2) Transportation Revolution The Transportation Bottleneck The vast extent of the territory across which Americans migrated expanded the reach of U.S. markets and compelled government officials to develop aggressive policies to support better means of transportation. Inland waterways were crucial to navigation, and entrepreneurs sold - 1 -
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Gaurav Singh property in riverside towns for premium prices, increasing these towns’ importance. State governments supported turnpike construction, improvement of rivers, and the building of inland canals. For many westerners, life on the frontier nevertheless meant self-sufficiency, limited trade, and isolation from the national market De witt Clinton and the Erie Canal Economic expansion, both industrial and agricultural, was made possible in part by transportation improvements that included better roads and new waterways. The most important new waterway was the Erie Canal, between Albany and Buffalo, New York. This publicly funded project stimulated the economic development of the entire region it traversed and drew the West into the national market . It also set in motion a canal- construction boom. The steamboat transformed western development by increasing the speed and reducing the cost of water transportation. North American Railroads
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Second Exam- Essay Question # 2 - Gaurav Singh 2. Beginning...

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