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National Economy 1800-1860 Flashcards

US Population 1800- 5.3 Million
1860-31.4 Million

Growth!

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502803568Reasons why the Economy grew (3)Spread of agriculture, Rise of a Market Economy, Cash Crop System
502803569Main events in 1800-1860 (3)Economic Growth, Improved Transportation, Mechanization of production
502803570Who started the "American System"?Henry Clay
502803571What is the "American System"?The Federal government is important to provide tarrifs and to help maintain balance.
502803572Examples of the "American System"Louisiana Purchase, Exploration, Land Sales, RR's, Canals, road construction, Post Office, Agricultural seed collection and distribution, Technology, Corporations
502803573Define CorporationGroups of people who act as a single legal person
502803574Erie Canal (1825)Cuts time of transporting good by 95%. Takes products straight to New York. Canals are mainly in the north
502803575Steam Locomotive (1830)Connects the Midwest and North. Seals the power and wealth. Key factor once the Civil War happens.
502803576Clipper and Steam ShipsCutting the transportation time in half. More reliable and cost effective (shipping)
502803577Telegraph (1848)Quickly allows companies to communicate more effectivly.
502803578What is a key factor in making Industries more effective?Water Mills (Water Power) New England becomes the center. Brought Power Machinery. New working class
502803579Agricultural ImplementsCreation of machines to help work the land. Chicago was big for this.
502803580What does the South invest in?Slaves, Cotton, Cigerettes, Tabaco
502803581Other factors that cause a growth in the North (3)Western Settlement (Texas, Organ, Utah), California Gold Rush, Fur Trade

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