US History Unit 1.2 Market Revolution Vocab Flashcard

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A major economic shift in the early 1800s caused by new transportation, communication, and industrial technologies. It changed how people lived, encouraging them to consume goods produced in factories across the US, and sold in local markets, rather than create their own goods and live a self-sufficient life. The Market Revolution helped expand capitalism and consumerism, but deepened divisions between the North and South over labor and slavery.

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Market Revolution

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A national economic plan promoted in the early 1800s to strengthen the US economy. It called for a national bank, protective tariffs, and federal funding for internal improvements like roads and canals. Supported by Henry Clay, it aimed to unite the country’s regions and industrialize the nation along the lines of Washington and Hamilton’s visions.

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American System

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A federally chartered bank established in 1816 to stabilize the economy after the War of 1812. It regulated currency and loaned money to state banks who loaned money to people interested in starting a factory under the American System. The bank became controversial, because people saw it as favoring the wealthy, and was later opposed by Andrew Jackson during his presidency.

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Second Bank of the United States

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A tax on imported goods, used as part of the American System to protect American industries from foreign competition. It raised prices on cheap foreign products, encouraging people to buy more expensive domestically made goods. This policy often caused tension between the industrial North, which supported it, and the agricultural South, which opposed it due to higher costs.

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Tariff

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Government-funded projects to build and improve transportation systems like roads, canals, and railroads as part of the American System. In the early 1800s, these efforts aimed to connect distant regions, boost trade, and support westward expansion. While supported by many in the North and West, they sparked debates over federal versus state responsibility and the use of public funds.

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Internal Improvements

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A period of major economic change in the early 1800s when the US shifted from handmade goods to machine-made production. Centered in the North, it led to the growth of factories, cities, and wage labor. New inventions and technologies boosted manufacturing and transportation, transforming how Americans worked, lived, and produced goods.

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Industrial Revolution

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A powerful machine that used steam to generate energy, transforming transportation and industry in the early 1800s US. It powered boats and locomotives, making travel and shipping faster and more efficient. The steam engine helped connect distant regions, boosted trade, and supported the country’s rapid industrial and economic growth during this period.

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Steam Engine

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An invention by Eli Whitney in the early 1800s that quickly separated cotton fibers from seeds. It greatly increased cotton production in the South, making cotton a highly profitable cash crop. While it boosted the Southern economy, it also led to a sharp rise in the demand for enslaved labor on cotton plantations.

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Cotton Gin

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A multi-spindle machine that allowed one worker to spin several threads at once, increasing cloth production. Though invented in Britain, its influence reached the US. in the early 1800s, helping start the American textile industry in the North. It reduced the need for manual spinning, speeding up manufacturing and contributing to the growth of early factories.

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Spinning Jenny

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A major government-funded highway built in the early 1800s to improve travel and trade across the growing US. It connected the East Coast to western territories, starting in Maryland and reaching into Illinois. The road helped settlers move west, boosted commerce, and was a key example of early federal support for transportation projects.

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National Road