Market revolution terms Flashcards
American System
Henry Clay’s proposal for a national bank, protective tariffs, and a national transportation system
canal
a human-made waterway cut through an area of land to link two bodies of water
doctrine of nullification
an argument stating that since the states had formed the Union, the states had the final authority over laws and could ignore any law they deemed unconstitutional
Know-Nothing Party
a political party founded by those with nativist beliefs
market revolution
a vast expansion of markets in which manufacturers
and producers could sell goods and products
nativism
the belief that immigrants do not deserve the same rights and privileges as native-born Americans
panic
a financial crisis in which banks fail and close and those who have accounts there lose their savings
slave narrative
the autobiography of a former slave, emphasizing the horrifying conditions from which he or she had escaped
tariff
a tax imposed on foreign goods sold in the domestic market; intended to support the purchase of domestically made goods
Spinning jenny
Mechanical loom invented by James Hargreaves of Great Britain; brought to the United States by Samuel Slater in 1789
Interchangeable parts
Mass-produced, identical parts for machines, tools, and weapons, allowing for mass production by the assembly of standardized parts
Cotton gin
Machine that separates cotton seeds from cotton fibers in a fraction of the time it takes a person to do the task by hand
Steam boat
Boat whose steam power allows it to travel upstream against the current, something that formerly had been very difficult; enabled Southern planters to send cotton north in bulk, giving rise the to Northern textile industry