How did the early Industrial Revolution create a market society in the United States?
Americans integrated the technologies of the Industrial Revolution into a new commercial economy. Steam power, the technology that moved steamboats and railroads, fueled the rise of American industry by powering mills and sparking new national transportation networks. A “market revolution” remade the nation.
What are the 4 reasons for the economic problems farmers faced?
Farmers were subject to droughts, insect invasions, and floods. One bad year to their crops could wipe out a family’s savings from many good years. Unlimited Coinage of Silver to raise farm prices and make loan payments easier. Direct Election of Senators instead of by state legislatures.
How did the market revolution increase sectional tensions?
The market revolution further exacerbated sectional tensions in the United States. As King Cotton became the primary crop in the South, the need for increase in labor arose; thus, the South increased its use of slaves in producing crops. The slave trade ended, but slavery did not end.
Why was the market revolution not a turning point?
2. Refute: The market revolution was not a turning point in United States economic development because the South continued to rely heavily on agriculture and the United States economic relations stayed the same continued to export the same products to the same countries.
What were the main elements of the market revolution?
Key Components of the Market Revolution – Transportation, Mechanization, and Commercial Farming. Following the War of 1812, the country looked to expand into the western territories in order to take advantage of the economic opportunities there as new markets opened up.
Which of the following is one factor that helped cause industrialization in the Northeast?
One reason was greater access to capital, or the money needed to build factories or other productive assets. The Northeast had more cheap labor to work in the factories. The Northeast had many swiftly flowing rivers to provide water power for the new factories.
Why did industrialization develop rapidly in the Northeast?
Why did industrialization develop in the northern states? Northern industrialization expanded rapidly following the War of 1812. Industrialized manufacturing began in New England, where wealthy merchants built water-powered textile mills (and mill towns to support them) along the rivers of the Northeast.
Was the market revolution positive or negative?
The market revolution sparked not only explosive economic growth and new personal wealth but also devastating depressions—“panics”—and a growing lower class of property-less workers. Many Americans labored for low wages and became trapped in endless cycles of poverty.
