📈

Impact of the Market Revolution on America

Apr 10, 2025

The Market Revolution

I. Introduction

  • 19th-century America saw a shift from subsistence economy to a commercial economy.
  • Industrial Revolution technologies integrated into American economy.
  • Steam power crucial for industry, transportation, and economic transformation.
  • Northern factories led to increased demand for southern cotton, entrenching slavery.
  • Economic growth brought wealth and a new middle class but also poverty and labor exploitation.

II. Early Republic Economic Development

  • Growth of American economy before the Civil War reshaped life.
  • Transition from subsistence to market-oriented agriculture.
  • Development of national infrastructure (roads, canals, railroads).
  • State-chartered banks and European capital fueled economic growth.
  • Economic depressions in 1819, 1837, and 1857 due to speculation and reliance on paper currency.
  • The Transportation Revolution opened the west and improved internal connectivity.
  • Erie Canal and steamboats revolutionized transportation.
  • Telegraph transformed communication, aiding economic and social integration.

III. The Decline of Northern Slavery and the Rise of the Cotton Kingdom

  • Northern states abolished slavery gradually.
  • Free Black population grew and fought for civil rights.
  • Cotton gin increased demand for slave labor in the South.
  • Cotton boom led to increased speculation and expansion westward.
  • Northern textile mills and banks profited from southern cotton.

IV. Changes in Labor Organization

  • Industrialization led to the decline of the artisanal system.
  • Introduction of factory system, centralized production, and division of labor.
  • Waltham-Lowell System integrated manufacturing processes in textile mills.
  • Harsh working conditions spurred labor activism and strikes.
  • Transition from craft-based apprenticeships to unskilled wage labor.
  • Emergence of class-based labor relationships and free labor ideology.

V. Changes in Gender Roles and Family Life

  • Industrialization and market economy shifted work away from home.
  • Gender roles: men in public sphere (work), women in private sphere (home).
  • Middle-class ideal separated home and work, but lower-class women engaged in wage labor.
  • Legal status of women: coverture limited rights; marriage seen as a permanent contract.
  • Education and social expectations shaped gender roles and family dynamics.

VI. The Rise of Industrial Labor in Antebellum America

  • Large influx of immigrants (Irish, German, Jewish) seeking economic opportunities.
  • Irish settled in northeastern cities; German immigrants moved to Midwest.
  • Rise of nativism and anti-immigrant sentiment, led to political movements like Know-Nothing Party.
  • Labor unions formed to protect worker rights, leading to legal acceptance in 1842.
  • Child labor and ten-hour workday became key labor issues, leading to some reforms.

VII. Conclusion

  • Southern agriculture fueled northern industry, creating a national economy.
  • Economic and ideological divides intensified, questioning freedom and equality.

VIII. Primary Sources

  • James Madison's call for infrastructure improvements.
  • Observations of life along the Erie Canal.
  • Impact of racism in American capitalism.
  • Experiences of immigration and labor strikes.

IX. Reference Material

  • Sources include books on economic, social, and cultural impacts of the Market Revolution.
  • Notable authors and works cited for further research.

These notes summarize the major themes and events of the Market Revolution, its impact on American society, economy, and labor, and the resulting changes in family and gender roles.