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Ch.09
FQ: How did Westward Expansion Impact Economic Growth? (1825 - 1847)
I. Markets Change
A. US Markets Expand
1. Entrepreneurialism ("The Business of America is Business")
a. Capitalism: Economic system where private businesses and individuals
own the means of production.
b. Entrepreneurs: "To undertake". Investors willing to take financial risk in
return for economic success.
2. New Inventions/ Innovations
a. Telegraph
b. Vulcanization of Rubber (Goodyear)
c. Sewing Machine (Singer)
3. (Rural & Urban) Household Economics
a. Farm mechanization to meet demand for food.
b. Farm equipment bolsters manufacturing.
c. Economies of scale forces prices down. Consumerism rises for work/
pleasure.
B. An Economic Revolution
1. Communication: Telegraph, 1837. Instant contact. (Simultaneity achieved).
2. Transportation:
a. Steamships (Rivers), Canals (Coast => Interior. Shipping costs fall)
b. Railroads (very fast, economy of scale, cargo & passenger) Time
standardization, 1840s, makes Synchronicity possible today- as in Daylight
Savings Time clock changes.
C. Markets Connect Regions (Sections)
1. Industrial/ Carrying Trade- North
a. Factory Capital
b. Machinery Capital
2. Agricultural (Cash Crop)- South
a. Land Capital
b. Slave Capital
3. Agricultural (Food Stuffs)- West
a. Land Capital
b. Machinery Capital (John Deere & Steel Plow, Cyrus McCormick &
Reaper)
4. Economies of Scale- Efficiency rises, Prices fall.
II. "Manifest Destiny"
A. An Attractive Frontier
1. Manifest Destiny: Ordained by God to expand across the West to the Pacific.
2. Opportunity: Expanse, cost, trade benefits
B. Settlers and Native Peoples
1. Black Hawk War: Repetition of past/ future conflict brought about be US
encroachment (Remember the 'Miami and Little Turtle'?).
2. Laramie Treaty: "Oft heard refrain".
a. Settlers Encroach on Native land
b. Conflict
c. Military responds, defeats Natives
AN03a
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AN03a
Ch.09
AN03a
Ch.09