Title: How did the American economy change during the Era of Good Feelings? What advantages and disadvantages came with the rise of industrial production?... - eNotes.com
Headings: How did the American economy change during the Era of Good Feelings? What advantages and disadvantages came with the rise of industrial production? Who benefited? Who did not benefit? How did these changes simultaneously unite and divide the North and the South?
History
How did the American economy change during the Era of Good Feelings? What advantages and disadvantages came with the rise of industrial production? Who benefited? Who did not benefit? How did these changes simultaneously unite and divide the North and the South?
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Content: In addition to these internal improvements, the federal government would raise tariffs (taxes on imported goods), in order to protect and promote American industries and businesses, and would support a national bank that would make commerce easier. One major development of the Market Revolution was the turnpike, essentially an early version of the highway. Turnpikes made travel between cities easier and made overland trade and commerce faster. In 1825 the Erie Canal was completed, linking what was then considered East and West and transforming New York City into the commercial and banking capital of the US. The use of steam engines made canals, steamships, and railroads the preferred, faster, and more reliable form of transportation. Another important transformation during the Market Revolution was the increased independence of the US economy during and after the War of 1812. Because the war disrupted trade, US manufacturing increased to meet demand. This manufacturing continued after the war and led to the rise of factories. Men like Samuel Slater and Francis Lowell introduced the British factory system to the US. These early factories, or mills, were built along rivers in order to utilize water power, and they mainly produced textiles.