America’s Economic Revolution
Causes: Urbanization Transportation Specialization The rise of corporations made it possible for businesses to raise more capital, enabling them to expand manufacturing Growth of corporations was kept in check, however, by limited capital and limited availability of credit
The most important economic development of the mid-19 th century Factories were a response to: Improved technology Increased demand More than half of the factories in the United States in 1860 were in the Northeast, producing more than 2/3 of the nation’s manufactured goods
Interchangeable parts revolutionized manufacturing Coal (replacing wood and water power) made it possible for factories to move away from streams The number of patents applied for rose almost 10 times from 1830 to 1860
Factories initially had a difficult time recruiting workers from the ranks of farmers and artisans However, improvements in farming methods and equipment led to a rise in production with less labor These displaced farm workers needed jobs
Work was not a new experience for many women in the factories, especially the women that came from farms However, the monotonous nature of repetitive work was taxing Factory work was usually the only work that many women could find It was unthinkable for women to travel the country alone looking for work, so they had few options
Immigrants settling in the major northeastern cities provided a large pool of inexpensive labor There were no real regulations for factory owners to provide decent working conditions for their employees Skilled workers earned $4 - $10 per week Unskilled workers earned $1 - $6 per week
Factory work required little to no skill for the manufacturing process Workers performed specialized tasks
Many artisans formed trade unions to protect their positions in the economy and resist industrialization These unions first took form as political parties Laws hostile toward unions made it difficult for unions to survive Forming unions was seen as an illegal conspiracy The Panic of 1837 further weakened unions
How did the industrial workforce change between the 1820s and the 1840s? What were the effects on American society of changes in the workforce? How did America’s industrial revolution and the factory system change family life? How did America’s industrial revolution and the factory system change women’s social and economic roles?