the salad days or “era of good feelings”. some accomplishments of modernization cotton gin...
TRANSCRIPT
The Early 1800’sThe Salad Days or “Era of Good Feelings”
Some Accomplishments of ModernizationCotton GinInterchangeable partsThe National RoadThe Erie CanalSteam locomotivesSteam boats
Differing Economies Develop: NorthManufacturing
develops almost by necessityTrade (major
economic pursuit) is greatly harmed Embargo Act (1807) British Blockade
(1812)
Differing Econ: North 2Agricultural changes also
Originally growing crops for subsistenceSmall farmers in Northwest (N of Ohio River)
diverge Grow one or two relatively easy-to-grow crops or
livestock (cattle, corn, other grains) Sell it in the growing cities, buy what they need
Regardless, little demand for slaves Lighter labor, lower profit margins
By 1804, almost all slavery abolished in the North
Differing Economies: SouthCash cropsCotton in high demand – textile industry in
Europe and growing fast in the NorthShort-staple cotton – easier to grow, but
harder to clean than long-staple cottonInvention of cotton gin allows for efficient
cleaning of short-staple cotton – CHA-CHING! http://videos.howstuffworks.com/hsw/17799-americ
a-in-a-changing-world-the-cotton-gin-video.htm
Differing Econ: South 2Development of “Cotton Kingdom” greatly
expands slaveryHigh profits and ability for manual labor to
efficiently process cotton lead wealthy plantation owners to buy up land and grow the stuff
As America nears end to slave importation, numbers skyrocket – 1790-1810, number of slaves jumps from 700,000 to 1,200,000
The “American System” - 1815Pres. Madison wants to unify nationPlan to Congress
Transportation/interior improvementsProtective tariffBring back the National Bank
Build self-sufficiencySouth and West produce food and cotton to
fuel the Northern textile industriesIndustrial North manufactures raw materials
produced in the South and WestBuilding/improving rails, roads, canals to
facilitate transportation of goodsNational Road and Erie Canal from Slide 2
Protecting Domestic Industry: the Tariff of 1816British goods (iron, textiles) in large surplus -
stockpiled during the War of 1812Excess surplus means low prices (below
American cost)Tariff = tax on imported goods
How does a tariff protect industry?Northeast likes tariff – protecting their
industrySouth/West not so much – no real benefit,
only higher cost of finished goods
New Natty BankMost agree that Second Bank of the United
States would benefit allAvailable guaranteed currency makes trade
across regions easierPeople generally pleased with path of the
country – “Era of Good Feelings”