How Did The Market Revolution Affect The Economy
The Market Revolution would be described as the growth of cities,specialization on the farms,industrialization,and the development of modern capitalism which ended self-sufficient households and a growing interdependence of people. The revolution took place during the 19th century and sparked economic growth.It was a shift away from local or regional markets to national markets. Although the market revolution developed a fast changing economy that presented challenges and problems, the economies grew due to the development of roads,canals,steamboats and railroads which led to an increased urbanization and integration in the North while cotton agriculture and slaves helped expand the economy in the the south. The development of canals,roads,steamboats and railroads led to an increase of urbanization and integration in
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Henry Clay, leader of the House of Representatives, proposed a method for advancing the nation’s economic growth. He argued that protective tariffs would help promote American manufacturing and help raise money which would help build national transportation systems. The Constituion didn’t provide the federal money used on roads and canals, so internal improvement were left in the hands of individual states.In the 1790’s the success of Pennsylvania’s Lancaster Turnpike stimulated the construction of short toll roads that connected the country’s major cities. Steampower travel started in 1807 when Robert Fulton developed a steamboat called the Clermont which had a successful voyage up the Hudson River. Commercially operated steamboats began making round trip shippings on the nation’s great rivers both faster and cheaper. Following the production of steamboats, the invention of canals became a huge factor of economic expansion in the Northeast.Because the poor roads made it difficult to move troops and materials during the War of 1812, state governments began to invest heavily in internal
Henry Clay, leader of the House of Representatives, proposed a method for advancing the nation’s economic growth. He argued that protective tariffs would help promote American manufacturing and help raise money which would help build national transportation systems. The Constituion didn’t provide the federal money used on roads and canals, so internal improvement were left in the hands of individual states.In the 1790’s the success of Pennsylvania’s Lancaster Turnpike stimulated the construction of short toll roads that connected the country’s major cities. Steampower travel started in 1807 when Robert Fulton developed a steamboat called the Clermont which had a successful voyage up the Hudson River. Commercially operated steamboats began making round trip shippings on the nation’s great rivers both faster and cheaper. Following the production of steamboats, the invention of canals became a huge factor of economic expansion in the Northeast.Because the poor roads made it difficult to move troops and materials during the War of 1812, state governments began to invest heavily in internal