APUSH Notes
Chapter 8: Varieties of American Nationalism
A Growing Economy
Banking, Currency, and Protection
War of 1812 stimulated manufacturing
Post war manufacturing chaos in shipping and banking- need for new Bank of the United States, chartered expiration in 1811 and not renewed, protecting new industries, transport systems
After expiration of charter, state banks offered difft currencies at difft values confusion and counterfeiting
Congress passed new charter for Bank of US 1816- its size and power forced state banks to issue safer currency
Manufacturing had grown tremendously due to imports being cut off + exponential increase in textile industry b/ween Embargo of 1807 and War
Factories in NE no longer family operations
Francis Lowell developed new loom 1813 in Boston Manufacturing Company- first process of both spinning and weaving
After war English ships swarmed American ports, wanted to reclaim old markets with prices below cost
1816 Congress passed tariff to protect “infant industries” from competition aboard- farmers objected b/c paid higher price
Transportation
W/o transport network manufacturers couldn’t access raw materials and send finished goods to markets in US should fed govt finance roads.
1807 Jefferson’s Sec Treasury Albert Gallatin proposed revenue from Ohio land sale go to fund National Road.
Crucial Lancaster Pike built in PA- allowed for the beginning of transport of commodities like textiles
Steam-powered shipping (advancements of Robert Fulton) expanded on rivers and Great Lakes.
Steamboats on Miss. stimulated already agricultural economy of South & West b/c cost to transport products to market lowered
Despite progress of turnpikes + steamships, serious gaps in transportation
1815 John Calhoun introduced bill to use federal funds to finance internal improvements, but Madison vetoed it in 1817 b/c believed unconstitutional
Remained to state govts + private enterprise to build needed transit networks
Expanding
A Growing Economy
Banking, Currency, and Protection
War of 1812 stimulated manufacturing
Post war manufacturing chaos in shipping and banking- need for new Bank of the United States, chartered expiration in 1811 and not renewed, protecting new industries, transport systems
After expiration of charter, state banks offered difft currencies at difft values confusion and counterfeiting
Congress passed new charter for Bank of US 1816- its size and power forced state banks to issue safer currency
Manufacturing had grown tremendously due to imports being cut off + exponential increase in textile industry b/ween Embargo of 1807 and War
Factories in NE no longer family operations
Francis Lowell developed new loom 1813 in Boston Manufacturing Company- first process of both spinning and weaving
After war English ships swarmed American ports, wanted to reclaim old markets with prices below cost
1816 Congress passed tariff to protect “infant industries” from competition aboard- farmers objected b/c paid higher price
Transportation
W/o transport network manufacturers couldn’t access raw materials and send finished goods to markets in US should fed govt finance roads.
1807 Jefferson’s Sec Treasury Albert Gallatin proposed revenue from Ohio land sale go to fund National Road.
Crucial Lancaster Pike built in PA- allowed for the beginning of transport of commodities like textiles
Steam-powered shipping (advancements of Robert Fulton) expanded on rivers and Great Lakes.
Steamboats on Miss. stimulated already agricultural economy of South & West b/c cost to transport products to market lowered
Despite progress of turnpikes + steamships, serious gaps in transportation
1815 John Calhoun introduced bill to use federal funds to finance internal improvements, but Madison vetoed it in 1817 b/c believed unconstitutional
Remained to state govts + private enterprise to build needed transit networks
Expanding