HIST 201 Chapter 10: Market Revolutions and the Rise of Democracy
Document Summary
Chapter 10: market revolutions and the rise of democracy. Use of federal funds for internal improvements. Intended to spur domestic economic development + tariffs and currency regulation. Propounded recognition of latin american independence movements. Maysville road bill (1830): authorized federal investment in a private turnpike company. Vetoed by president andrew jackson because he opposed using central power for infrastructure improvement. Between 1789 and 1832: fuller market economy took shape in united states. Market economy: market forces influence production, distribution, and consumption of goods. Open competition, exchange of products / credit / cash. More farmers begin to produce surplus goods / more americans moved to towns and cities where manufacturing took place. Market connections grew for agricultural and manufactured products. Example: cotton planters in the south shipped products to new england to be manufactured into cloth. Homemade and farm good spread through local, regional, national, and international markets. Invention of new technologies played a large role in economic growth.
