growing economy: end of war of 1812- allowed us to resume economic growth and territorial expansion.
Banking Currency and protection- chaos in shipping and banking. inadequate transportation and financial systems.
issues- reestablishing the bank of the united states, protecting the new industries and providing a nationwide network of roads and waterways.
banknotes issued- depended on reputation 2nd bank- more capital than its predecessor.
Produced only yarn and thread until 1814.
Boston merchant- francis cabot lowell- developed a power loom organized the boston manufacaturing company in waltham mass founded the first mill in america to carry on the process of spinning and weaving under a single roof 1816- tariff law- limit competition from abroad among the most was cotton cloth.
Transportation- needed improvements Needed to send finished goods to markets within the us and get raw materials. the big debate: should fed government help to finance roads and other internal improvements? in 1807- Jefferson's secretary Albert Gallatin proposed that revenues from the Ohio land sales should help finance a national road from the Potomac river to the Ohio river Pennsylvania gave 100,000 to a private comp.
Private carriages, Conestoga wagons, stagecoaches, Steamboats were the best way of transporting raw materials.
jams c clahoun introduced a bill that would use funds owed the gov by the bank of the us to finance internal improvements state govs and private enterprise to undertake the task of building the network.
Expanding west: one of 4 white Americans lived west of the Appalachians in 1820.
the westward movement of the white amer pop was one of the most important.- brought vast new regions into capital system.- mixed cultures population pressures and economic pressures pushed them from east, decline of Indian resistance and new lands nations population grew by natural increase and immigration, doubled between 1800 to...