The American economy underwent a tremendous economic transformation between the years of 1790 and 1860. The economic growth can be associated with a number of factors; for instance, changes in transportation, communications, and agricultural production. Therefore, the American traders reaped a huge profit from trade due to the improved communication, agricultural systems, and transport system because they could carry out business without any difficulties and this led to the growth of the American economy. One of the dramatic changes that occurred in the US economy between 1790 and 1860 was the development of the agricultural sector. Agricultural production was a primary boost to the American economy. McNabb, notes that the wealth generated from the agricultural sector doubled and this …show more content…
Samuel Morse designed the Telegraph in 1835, which was used as a means of communication from Washington DC to Baltimore and later to Maryland. The telegraph was a breakthrough in the communication, and this contributed to economic growth because it transformed the long distance communication. With the introduction of the telegraph, communication was made easy as the traders and the settlers could communicate with other people across the continent. Apart from the Telegraph, the US postal service was used, which enhanced how information was shared among people thus strengthening the growth of the US economy. Moreover, the improvement of communication systems helped in information dispersal in the field of transport and agriculture (Lindert & Williamson, 2016). In addition, farmers moved into large markets where they could exchange their products with manufacturers thus expanding their trade, and advancing the American economy. Therefore, the changes in the communication systems with the use of the telegraph and postal services improved trade throughout the country thus improving the
Through the period of 1865-1900, America’s agriculture underwent a series of changes .Changes that were a product of influential role that technology, government policy and economic conditions played. To extend on this idea, changes included the increase on exported goods, do the availability of products as well as the improved traveling system of rail roads. In the primate stages of these developing changes, farmers were able to benefit from the product, yet as time passed by, dissatisfaction grew within them. They no longer benefited from the changes (economy went bad), and therefore they no longer supported railroads. Moreover they were discontented with the approach that the government had taken towards the situation.
Business growth on both sides of the country was expedited by a new form of cheap distribution into profitable, expanding markets. Easy transportation facilitated the concept of business travel and expansion on an unprecedented scale. However, some of the largest impacts of the Transcontinental Railroad can be seen through the crosscountry exchange of ideas. Before the railroad existed, the only fast exchange of information was written through the pony express. The Transcontinental Railroad created an outlet of communicating new ideas and information in person. A smooth and swift crosscountry exchange of people and ideas not only made America more infrastructurally sophisticated it acted as a foundation for the Western United States to grow from very little to the political, social, economic, and technological center that it is today.
The new government views in the late 1800’s helped to promote America’s huge industrial growth because not one party controlled the government anymore; so all views were used to formulate new ideas.
In the late 1700’s and early 1800’s the United States was in a transformation from the Jeffersonian vision of an agricultural nation, into Alexander Hamilton’s vision of an industrial America. The book Sam Patch, the Famous Jumper gives a good idea of what America was like during the Early Republic period. The industrial life would turn America into a country that is dependent on the work of manufactories.
In conclusion during the years 1865 and 1900 technology, economic and government policies changed american agriculture
In the period 1865-1900, technology, government policy, and economic conditions all changed American agriculture a great deal. New farming machinery had a large role in the late 19th century, giving farmers the opportunity to produce many more crops than they had ever been able to previously. The railroads had an enormous influence on agriculture. They were able to charge the farmers large fees, expenses that farmers barely had enough to cover, in order to transport their goods throughout the expansive country. The booming industry also changed American agriculture, creating monopolies and gaining incredible wealth with which the farmers simply could not compete. Economically, the monetary policy along with the steadily dropping prices of
Following the Civil War, a second industrial revolution in America brought many changes to the nation’s agriculture sector. The new technologies that were created transformed how farmers worked and the way in which the sector functioned. Agriculture expanded and became more industrial. Meanwhile government policies, or lack of them for a while, and hard economic conditions put difficult strains on farmers and their occupation. These changes in technology, economic conditions, and government policy from 1865 to 1900 transformed and improved agriculture while leaving farmers in hardship.
The Era of 1800 to 1860 proved to be some of the most technologically advanced years of the 19th century. This Era saw a rapid technological change in communications, travel. Through these advances helped the United States grow and prosper. Communication was now possible from the most populated to the least populated areas of the country. Telegraph wires stretched from north to south and east to west. The introduction of the Pony Express allowed the physical movement of mail from the east to as far west as California and as far North as Wyoming. Transportation was at its heyday, via water, rail or land, people moved across the country faster than any other time in history. This era showed
The new era economy reflected the industrialization that the country had just undergone. Although there was a recession from 1921-1922, after 1922 we enter a period of uninterrupted prosperity, and growth. As Americans incomes increase, and prices decrease, this allowed for more of a disposable income. Middle class families are now able to buy cosmetics, fridges, vacuums, and automobiles. Technology also greatly influenced the major economic growth that occurred. The automobile industry became the most important industry in the nation. It was very similar to a domino effect, once auto manufacturing increased and was successful, other industries such as, steel, rubber, glass, and oil companies also increased their production due to the purchases made by the auto manufacturers. Automobile manufacturing created jobs, and as the radius of cities was extended, the demand for more automobiles increased. Unfortunately, farming became a double-edged sword. In the 1920’s tractor usage quadrupled, but the problem was that the demand for agricultural goods was not increasing with increasing production. This created
Towards the end of the late 1700's, America was no longer under custody of Britain, instead it was a large market for industrial goods and without the doubt the world's major source for cotton, tobacco, and other agricultural products. The Market Revolution during this time was a harsh change in manual labor system originating in the south and later spreading world wide. The War of 1812, fought against Great Britain, was a time of rapid improvement in transportation, continuously growth of factories, and important development of new technology to increase agricultural production. A labor evolvement started to occur in America throughout the early 1800's, a drastic shift from an agricultural
The period between the American Revolution and the Civil War had great significance for the United States' economy. Although initially the economy seemed unstable at first, after the second war that America fought with England, the economy began to show considerable growth thereafter. This can be seen as the result of the cotton trade in the South and the eventual industrialisation of America, especially in the Northeast and later the West. From the invention of cotton gins to the adaptation of railways one can see how the United States used their opportunities and resources to their full advantage, transforming their economy to be able to compete among the worlds leading economical countries.
The economic crisis of the late 1780's had began to disappear and economic growth and change began to occur through internal improvements in the nation. With the creation of a strong national banking system they could regulate the nations money supply, therefore ensuring the nations economic growth. Issuing of protective high tariffs helped to protect the american economy from the knock off cheap British goods. Selling of nations lands at high prices led to internal transportation improvements that allowed better transportation of good to marketplaces. The american economy began to take a boom and flourish under these changes and underwent a market revolution. American capitalism began to boom as merchants, manufacturers, and farmers began
The Postbellum period in America from 1865 to the 1920s was characterized by a transformation of the American economy and unprecedented growth. Some of the largest companies founded in this time period are still around and thriving today including the Ford Motor Company, J.P. Morgan Chase, and General Electric. In addition to economic growth, there was also rapid urbanization and population growth from 31 million people in 1860 to 91 million in 1910. A shift in the market from agriculture to manufacturing partially propelled this growth. Despite the decrease in agricultural market share, the output increased threefold. By 1910, America increased its share in world manufacturing to 38.8% from 23.3% in 1870. Some economic historians such as Beard and Hacker propose that this growth is due to the Civil War. In general, there were three main spheres of influence spurring economic growth in this time period including technological advances, economic advantages and big business, and institutional changes.
between 1898 and 1904. In less than a decade the U.S. economy had been transformed
There was an expansion partially because of the railroad network. New products and ideas in transportation fueled growth by bringing the nation's natural resources such as iron, coal, and oil to the factories. America was typically running the business because investors loaned money to the United States. Unlike in many countries America would mostly put the money into private hands not public safe or something in a similar manner. American markets encouraged innovators to invest mass-production methods. With cheaper transportation throughout the nation with larger population eager to get would be easy and appealing. Several other inventions came out such as the cash register, stock ticker and a typewriter. Many of the things that were coming