HISTORY 2R03 Lecture Notes - Lecture 13: Private Good, United States Dollar, Industrial Revolution
22 Nov 2017
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America had come off fighting two large wars against the largest and most powerful empire in the world. In this time, the late 18th century-early 19th century, there were two revolutions taking place. A democratic revolution and the industrial revolution were sweeping the world. The world at this time was rural, 90% of the population lived in the countryside. The largest city at the time was philadelphia which had 42,000 people living in it, nothing compared to paris and london. It was a subsistence culture, people produced what they needed, not to sell. South had more elements of a capitalist society, but the majority of people only produced what they needed, or little more in order to purchase goods that they wanted. People usually had a surplus of wheat and they sold this to the storekeepers. ^^^there was an exception to this, new england, who had manufacturers in the city who started the industrial revolution in america.
