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APUSH Chapter 8
From the book "Henretta's America's History" by various authors
| Term | Definition |
|---|---|
| neomercantilism | a system of government-assisted economic development embraced by state legislatures in the first of half of the 19th century, especially in the NE; this system of activist government encouraged entrepreneurs to enhance the public welfare |
| Panic of 1819 | first major economic crisis of the US; farmers and planters faced an abrupt 30% drop in world agricultural prices, but then couldn't pay debts so they went bankrupt |
| Commonwealth System | the republican system of political economy implemented by state governments in the early 19th century that funneled aid to private businesses whose projects would improve general welfare |
| Erie Canal | a 364-mile waterway connecting the Hudson River and Lake Erie; brought prosperity to the entire Great Lakes region and its benefits prompted civic and business leaders in Philadelphia and Baltimore to propose canals to link their cities to the Midwest |
| Market Revolution | the dramatic increase between 1820 and 1850 in the exchange of good and services in market transactions; reflected the increased output of farms/factories, the entrepreneurial activities of traders/merchants, and the creation of a transportation network |
| Industrial Revolution | a burst of major inventions and economic expansion based on water and steam power, reorganized work routines, and the use of machine technology that transformed certain industries, such as cotton textiles and iron, between 1790 and 1860 |
| cotton complex | the economic system that developed in the first half of the 19th century binding together southern cotton production with northern clothmaking, shipping, and capital |
| Waltham-Lowell System | a labor system employing young farm women in New England factories that originated in 1822 and declined after 1860, when immigrant labor became prominent; the women lived in boarding houses with strict rules and curfews |
| gradual emancipation | the practice of ending slavery in the distant future while recognizing white property rights to the saves they owned; only applied to enslaved laborers born after the passage of the statute and after they had labored for their owners for a term of years |
| manumission | the legal act of relinquishing property rights in slaves; worried that a population of free blacks would threaten the institution of slavery, the Virginia assembly repealed Virginia's 1782 manumission law in 1792 |
| coastal trade | the domestic slave trade with routes along the Atlantic coast that sent thousands of slaves to sugar plantations in Louisiana and cotton plantations in the Mississippi Valley |
| inland system | the slave trade system in the interior of the country that fed slaves to the Cotton South |
| positive good | in 1837, SC Senator John C Calhoun argued on the floor of the Senate that slavery was not a necessary evil but a positive good "indispensable to the peace and happiness" of whites and blacks alike |
| paternalism | the ideology held by slave owners who considered themselves committed to the welfare of their slaves |
| machine tools | machines that make standardized metal parts for other machines, like textile looms and sewing machines; the development accelerated industrialization |
| artisan republicanism | an ideology of production that celebrated small-scale producers and emphasized liberty and equality; flourished after the American Revolution and gradually declined as a result of industrialization |
| unions | organizations of workers that began during the Industrial Revolution to bargain with employers over wages, hours, benefits, and control of the workplace |
| labor theory of value | the belief that human value produces economic value; adherents argued that the price of a product should be determined not by the market but the amount of work required to make it and that most of the price should be paid to the person who produced it |
| gang-labor system | a system of work discipline used on southern cotton plantations in the mid 19th century in which white overseers or black drivers supervised gangs of enslaved laborers to achieve greater productivity |
| middle class | an economic group of prosperous farmers, artisans, and traders that emerged in the early 19th century; its rise reflected an increase in prosperity; fostered a distinct middle-class urban culture |
| self-made man | a 19th century ideal that celebrated men who rose to wealth or power from humble origins through self-discipline, hard work, and temperate habits |
Created by:
MLLacey
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