Unit 5: Industrialization-Jackson Flashcards
jacksonian democracy, indian removal act, 2nd national bank, industrial revolution, nullification crisis (167 cards)
patenting
congress allowing people to own work incentivized people to continue inventing
state governments funded ? total funds for canals
3/4 funds for canals (bonus: 1/2 capital for rail network)
developmental efforts/new ventures were mainly financed by
- government funds raised through taxation
- then placed under private control
the gov-private relationship
public policy reflected widespread confidence in private enterprise. however, it needed spurring to carry out large-scale development projects
how did govt promote industrial growth
- erecting tariffs to protect domestic
- creating new legal arrangements
- stimulate release of economic energy
- building schools to educate labor force
families were moving to
places with work (especially seen with hands-on, factory, mill jobs)
1816 republican party beliefs
(protectionists)
clamoring for protective duties on certain foreign goods
leaders of protectionists
those who invested in:
- new england textile mills
- pennsylvania iron smelters
when the embargo & war choked off european supplies.
- hemp growers of kentucky
- wool growers of ohio and vermont
- southerners & westerners who hoped to promote industry or expand domestic market
protectionists believed that britain was…
- seeking to dispose of war surpluses
- it was suggested their items were even being sold for a loss
- forcing small industries in america to close doors
- working to wreck the american economy
infant industries
fragile industry still developing that needed to the tender care of America’s federal govt (hiding behind a tariff wall)
north vs south canals
- northern canals facilitated east-west traffic
- lake eerie
- no considerable network in south
- northern had superiority in following civil war
eli whitney (1793)
- system of interchangeable parts (helped with mass production, process of assembly)
- less need for skilled workers
- cotton gin
samuel slater (1790)
- brought plans for a cotton mill from england
oliver evans (1804)
- high pressure steam engine
- applied to mills, printing presses
- techniques of mass production in flour mills
immigration vs total resident pop
- immigration population was erratic
- total resident population was smoothly increasing
gibbons v ogden (1824)
- supreme court overturned ny state law that gave Robert Fulton and Robert Livingston monopoly
- this was done by Chief Justice Marshall ruling trade fell under sway of commerce clause of constitution
- congress gained controlling powers. they issued licenses on non-exclusive basses, ending waterway monopolies.
within a year, 43 steamboats were plying odgen’s rule
marshall court defining interstate commerce
- defined broadly
- expanded federal powers over economy while limiting states ability
dartmouth college v woodward (1819)
protected sanctity of contracts against states
“if business is to prosper, men must have assurance that contracts will be enforced” - marshall
commercial capitalists investment
- couldn’t invest in commercial enterprises during embargo & war of 1812
- found opportunity to invest to early factories
gov (compared to cc) investment
- invested into canals, railroads, manufacturing firms
- subsequently boosted the early factory system
1st bank of us closing (1811 lack of rechartering)
- w/o a national bank, hard to pay for war
- government had to deal with many banks
- each multiple & issued their own paper money
state banks
private banks chartered by the state
banking after britain burned washington
- many holders of state bank notes tried to convert them into gold & silver (specie)
- the banks refused due to lacking resources
- the value began plummeting
- bonds of fed. gov sold below face value and national debt soared