Antebellum America: Transformation of the Economy Flashcards
Economic plan promoted by Speaker of the House Henry Clay in the years following the War of 1812
Promoted vigorous growth of the American economy and the use of protected tariffs to encourage Americans to buy more domestic goods
American System
Leading American statesman from Kentucky who promoted the “American System”
Served as a congressman, senator, presidential candidate, and diplomat
Known as “the Great Pacificator” because of his ability to craft compromises in the Senate
Henry Clay
Protectionist tariff designed to assist new American industries in the aftermath of the War of 1812
Raised import duties by nearly 25%
Tariff of 1816
First textile production system in England, where merchants gave wool to families, who in their homes created yarn and then cloth
Merchants would then buy the cloth from the families and sell the finished product
Textile mills later proved more efficient
Putting-Out System
Economic panic hit the U.S. in 1819
Caused by the recovery of European economies after the Napoleonic wars, by the money policies of the National Bank, and by speculation on the part of officials of branch banks of the National Bank
Led to distrust of the National Bank
Panic of 1819
American economy suffered deep depression when Great Britain reduced the amount of credit it offered the United States
American merchants and industrialists had to use their available cash to pay off debts, causing businesses to cut production and lay off workers
Panic of 1837
Invented the cotton gin
Eli Whitney
National Road
Cumberland Road
Took eight years and $7 million to construct
Included 83 locks that raised ships a total of 600 feet
Lowered cost of shipping goods between Boston and New York from $100 per ton to $8 per ton
Erie Canal
Made it possible for worker to clean fifty pounds of cotton per day
Led to the explosion of cotton production
Invented in 1793, revolutionized Southern agriculture by making it easier to remove seeds
Cotton Gin
Groups of slaves numbering 30-40 who made the seven week overland trip to the Deep South
Expected to march 20 to 25 miles per day
Slave Coffles
New type of plow that prevented soil from getting stuck on the plow in the thick, clay soil in the American West
By 1857, the company produced some 10,000 plows a year
Deere Plow
Supreme Court case that expand the authority of the government and limited the ability of corporations to use charters to prevent competition
Charles River Bridge v. Warren Bridge
Tent city in which thousands of people would gather to hear ministers preach
Protestant ministers walked through the meeting and many people had religious experiences
Camp Meetings
Women who had to struggle to provide for their families.
Working Class Women
