HIST 1100 Lecture Notes - Lecture 16: Boston Manufacturing Company, Wage Labour, U.S. Bancorp
Document Summary
War of 1812 panic of 1837 economic depression. Gov"t supported entrepreneurship by granting charters, paying for debts of chartered corporations and protected monopolies--the supreme court was even involved!! No laissez faire : gov"t has minimal involvement in economic. Improvement of transportation = goods/products travel more efficiently (transportation. Land sales increase due to increase of market capitalism. Slavery increases (expansion of the cotton business) Cities grew rapidly after war of 1812. New cities west (louisville, ky; st. louis, mo) Inc pop due to migration of native-born americans from farms cities. To find jobs--artisans mechanics, factory operatives, laborers. Also new kinds of work: bookkeepers, clerks, managers, and salespersons (more skilled labor) Francis cabot lowell: created the 1st boston manufacturing company (stole idea from. 1830-40"s: us became world"s leader of manufacture. Due to standardization of parts (certain item made in bulk and constructed exactly the same with the same parts) Drastic inc in population = not enough housing homeless and city dwellers.
