a system of economic production based on the private ownership of property and the contractual exchange of profit of goods, labor, and money
First Bank of the United States
Chartered in 1791 by the Federalists in Congress and was founded by Alexander Hamilton to make commercial loans and issue notes
Second Bank of the United States
Chartered by the Jeffersonian Republicans in Congress in 1816 to provide credit
the periodic expansion and contraction of production and employment inherent in an unregulatled market economy
a production system where merchants would buy raw materials, send them to rural areas to be manufactured by poor farm families, and then sell them in port cities and overseas markets
a set of geovernmental policies designed to enhance national wealth by active intervention into the economy
originated in Europe as part of the romantic movement, celebrated the importance of feeling - a physical, sensuous appreciation of God, nature, and other human beings
the idea that the primary political role of American women was to instill a sense of patriotic duty and republican virtue in their children and mold the children into exemplary republican citizens
Lord Dunnmore's Proclamation of 1775
If slaves became loyalists and fought for Britain in the Revolutionary War, they'd be set free
Maine could enter the Union as a free state in 1820and Missouri could follow as a slave state in 1821
a system of factory production that often combines sophisticated machinery, a disciplined labor force, and assembly lines to turn out vast quantities of identical goods at low cost.
division of labor
a system of manufacture that assigns specific and repetitive tasks to each worker.
a structure first built by manufacturers in the early nineteenth century to concentrate all aspects of production - and the machinery needed to increase output - all in one location
brought the power loom to America from Britain, which changed the Northeast's textile market forever because they could now produce massive amounts of fabric at once
invented the factory, putting all the processes of producing one good under one roof.
initially invented for guns, allowed the owner to only fix the broken part of the machine, not forcing him to buy a whole new one