1. 7:1 Regional Economies

2. Northern Economy Agriculture – Cash crops-grains, livestock – Small farms – Little use of slave labor Manufacturing – textiles Trade

3. Eli Whitney U.S. inventor Demonstrated interchangeable parts

4. Interchangeable Parts Only have to replace the broken part Allows for rise of machine age Unskilled workers replace artisans

5. Industrial Revolution early 1800s Unskilled workers operate power driven machines Efficiency cuts costs

6. Market Economy/Revolution market economy is an economy based on the division of labor in which the prices of goods and services are determined in a free price system set by supply and demand. [1] division of laborgoods servicesfree price systemsupply and demand [1]

7. Southern Economy Agriculture – Cash crops-cotton/tobacco – Mostly small farmers – Plantation owners-dependent on slave labor

8. 1793 Cotton Gin Removes cotton seeds from the fiber Reduced cost to process cotton/raised profits Increased the need for unskilled slave labor

9. American System/Plan Speaker of the House-Henry Clay Unify the nation economically – Tariff of 1816 – 2 nd National Bank – Transportation

10. Tariff of 1816 Protective tariff Use $$ for internal improvements-infrastructure Good for Northeast/Bad for the south+west

11. 2 nd National Bank 1816 Stabilize nation’s currency

12. Improve National Infrastructure National Road Turnpikes Canals

13. 1825 Erie Canal The Big Ditch Connects Great Lakes with Hudson River Efficient Trade! Solidified NYC as the financial capital of the U.S.

14. Rise of NYC 1835 most populous city Center of commerce: bankers, merchants, artisans Linked Europe with American Interior

15. The Steamboat Travel any direction on rivers-Efficient Trade! Robert Fulton-The Clermont

16. James Monroe “Era of Good Feelings”

17. 7:2 Nationalism at Center Stage

18. Westward Expansion U.S. doubled 16-33 states Motivation – Desire to own their own land – Discover gold/resources – Manifest destiny

19. Manifest Destiny Manifest- “obvious” Destiny- “fate” “sea to shining sea”

20. American Nationalism U.S. superior to other nations – Democracy, religion, language, ancestry, culture Duty to expand this superiority to the West Coast

21. Missouri Compromise MO applies for statehood-slave state Upsets balance in Senate Missouri-slave Maine-free 36° 30° parallel Settled slavery debate for the LA Territory

22. John Quincy Adams Secretary of State under Monroe Established foreign policy guided by Nationalism

23. U.S. Foreign Affairs 1823 Monroe Doctrine Hey Europe: Stay out of the Western Hemisphere!

24. Spain ceded FL to the U.S. and gave up claims on Oregon Territory.