1/14 Class

Question 1

American Commerce’s Rocky Start

Answer 1

founders wanted free trade, they battled England for it

Question 2

founders

Answer 2

wanted free trade,

Question 3

Alexander Hamilton Vision

Answer 3

comfortable with commerce and cities, he believed in using the power of the fed gov to grow business

Question 4

Jeffersonians

Answer 4

didn’t like trading, paper money, etc.

they didn’t like classes

Question 5

market revolution

Answer 5

American system - state effort to grow the economy
transportation revolution - the railroad and other transportation
implications and results - telegraphs, better communication, rise in factory made products

Question 6

second bank of the united states

Answer 6

1816

Question 7

results of market revolution

Answer 7

a national market
new factory made goods
national brands
modern financial tools
price convergence
panic of 1819 - caused by lots of speculation

Question 8

legal context of economic growth

Answer 8

the Marshall Supreme Court and Judicial and Federal Supremacy
Law and the “Release of Energy”

Question 9

Marbury v Madison(1803)

Answer 9

established Supreme Court as arbiter of Const

Question 10

Dartmouth V Woodward, 1819

Answer 10

contracts supreme

Question 11

McCullough v MD(1819)

Answer 11

States can not tax federal activities

Question 12

Gibbons v Ogden, (1824)

Answer 12

congress regulates interstate commerce

Question 13

Charles river Bridge Co. vs Warren Bridge(1837)

Answer 13

they built a bridge to charge tolls one was given a second charter after the first which took business away

Question 14

law and the release of energy

Answer 14

Will theory of contract
limited damages under nuisance law
doctrine of assumption of risk(anti-worker/pro-business
fellow servant rule
new corporation laws with limited liability

Question 15

putting out system

Answer 15

where there are products started in homes but sold to craftsmen