hist 1301 all exam 3 notes

hist 1301 all exam 3 notes - CHAPTER 12 THE MARKET...

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CHAPTER 12: THE MARKET REVOLUTION AND SOCIAL REFORM 1815-1850 I. INDUSTRIAL CHANGE AND URBANIZATION A. Introduction 1. In 1820, 80 percent of the free labor force worked in agriculture, and manufacturing 2. played a minor role in overall economic activity. Over the next three decades, however, the United States joined England as a world leader in industrialization. By 1850, manufacturing accounted for one-third of total commodity output, and 45 percent of the labor force were nonfarm workers. 3. The transportation revolution dramatically reduced transportation costs and shipping times, opened up new markets for farmers and manufacturers alike, and provided an incentive for expanding production. B. The Transportation Revolution 1. Steamboats and canals a. In 1807, Robert Fulton demonstrated a steamboat’s commercial practicality when he sent the Clermont 150 miles up the Hudson River from New York City to Albany. b. Western trade did not start to flow eastward until the completion of the Erie Canal in 1825. c. More than 3,000 miles of canal were in place by 1840, but no other canal could overcome the tremendous advantage of Erie’s head start in fixing trading patterns along its route. 2. Railroads a. Railroads were the last and ultimately the most important of the transportation improvements that spurred economic development in Jacksonian America. b. In 1825, the world’s first general-purpose railroad, the Stockton and Darlington, opened in England. c. The Baltimore and Ohio crossed the Appalachians and connected Baltimore with Wheeling, Virginia, on the Ohio River. The Boston and Worcester linked New England and the eastern terminus of the Erie Canal at Albany. d. Significantly, no direct rail connection linked the North and the South. 3. Government and the transportation revolution a. In Gibbons v. Ogden (1824), the Court overturned a New York law that had given Aaron Ogden a monopoly on steamboat service between New York and New Jersey. Thom Gibbons, Ogden’s competitor, had a federal license for the coastal trade. The right to compete under the national license, the Court ruled, took legal precedence over Ogden’s monopoly. The decision affirmed the supremacy of the national government to regulate interstate commerce. b. Taney ruled in Charles River Bridge v. Warren Bridge (1837) that the older Charles River Bridge Company had not received a monopoly from the Massachusetts to collect tolls across the Charles River. Any uncertainties in the charter rights of corporations
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should be resolved in favor of the broader community interests that would be served by free and open competition. C. Cities and Immigrants 1. The port cities a. America’s largest cities in the early nineteenth century were its Atlantic ports: New York, Philadelphia, Baltimore, and Boston.
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