Chapter 10: Growth and Expansion, 1790-1825
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Recession of 1797?
SAE./No.48/February 2016 Studies in Applied Economics WHAT CAUSED THE RECESSION OF 1797? Nicholas A. Curott and Tyler A. Watts Johns Hopkins Institute for Applied Economics, Global Health, and Study of Business Enterprise What Caused the Recession of 1797? By Nicholas A. Curott and Tyler A. Watts Copyright 2015 by Nicholas A. Curott and Tyler A. Watts About the Series The Studies in Applied Economics series is under the general direction of Prof. Steve H. Hanke, co-director of the Institute for Applied Economics, Global Health, and Study of Business Enterprise ([email protected]). About the Authors Nicholas A. Curott ([email protected]) is Assistant Professor of Economics at Ball State University in Muncie, Indiana. Tyler A. Watts is Professor of Economics at East Texas Baptist University in Marshall, Texas. Abstract This paper presents a monetary explanation for the U.S. recession of 1797. Credit expansion initiated by the Bank of the United States in the early 1790s unleashed a bout of inflation and low real interest rates, which spurred a speculative investment bubble in real estate and capital intensive manufacturing and infrastructure projects. A correction occurred as domestic inflation created a disparity in international prices that led to a reduction in net exports. Specie flowed out of the country, prices began to fall, and real interest rates spiked. In the ensuing credit crunch, businesses reliant upon rolling over short term debt were rendered unsustainable. The general economic downturn, which ensued throughout 1797 and 1798, involved declines in the price level and nominal GDP, the bursting of the real estate bubble, and a cluster of personal bankruptcies and business failures. -
The Industrial Revolution in America
DO NOT EDIT--Changes must be made through “File info” CorrectionKey=TX-A SECTION 1 The Industrial TEKS 5B, 5D, 7A, 11A, 12C, 12D, 13A, Revolution in 13B, 14A, 14B, 27A, 27D, 28B What You Will Learn… America Main Ideas 1. The invention of new machines in Great Britain If YOU were there... led to the beginning of the You live in a small Pennsylvania town in the 1780s. Your father is a Industrial Revolution. 2. The development of new blacksmith, but you earn money for the family, too. You raise sheep machines and processes and spin their wool into yarn. Your sisters knit the yarn into warm brought the Industrial Revolu- tion to the United States. wool gloves and mittens. You sell your products to merchants in the 3. Despite a slow start in manu- city. But now you hear that someone has invented machines that facturing, the United States made rapid improvements can spin thread and make cloth. during the War of 1812. Would you still be able to earn the same amount The Big Idea of money for your family? Why? The Industrial Revolution trans- formed the way goods were produced in the United States. BUILDING BACKOU GR ND In the early 1700s making goods depend- ed on the hard work of humans and animals. It had been that way for Key Terms and People hundreds of years. Then new technology brought a change so radical Industrial Revolution, p. 385 that it is called a revolution. It began in Great Britain and soon spread to textiles, p. -
Chapter 7 Interact with History
The port of New Orleans, Louisiana, a major center for the cotton trade 1820 James Monroe is 1817 reelected president. 1824 John Construction 1819 U.S. Quincy Adams begins on the acquires Florida 1820 Congress agrees to is elected Erie Canal. from Spain. the Missouri Compromise. president. USA 1815 WORLD 1815 1820 1825 1815 Napoleon 1819 Simón 1822 Freed 1824 is defeated at Bolívar becomes U.S. slaves Mexico Waterloo. president of found Liberia on becomes Colombia. the west coast a republic. of Africa. 210 CHAPTER 7 INTERACT WITH HISTORY The year is 1828. You are a senator from a Southern state. Congress has just passed a high tax on imported cloth and iron in order to protect Northern industry. The tax will raise the cost of these goods in the South and will cause Britain to buy less cotton. Southern states hope to nullify, or cancel, such federal laws that they consider unfair. Would you support the federal or state government? Examine the Issues • What might happen if some states enforce laws and others don't? • How can Congress address the needs of different states? •What does it mean to be a nation? RESEARCH LINKS CLASSZONE.COM Visit the Chapter 7 links for more information about Balancing Nationalism and Sectionalism. 1838 1828 Removal of Andrew 1836 Martin the Cherokee 1840 William Jackson 1832 Andrew Van Buren along the Henry Harrison is elected Jackson is elected Trail of Tears is elected president. is reelected. president. begins. president. 1830 1835 1840 1830 France 1833 British 1837 Victoria 1839 Opium invades Algeria. -
DRAFT – Subject to NIST Approval 1.5 IMPACTS of AUTOMATION on PRECISION1 M. Alkan Donmez and Johannes A. Soons Manufacturin
DRAFT – Subject to NIST approval 1.5 IMPACTS OF AUTOMATION ON PRECISION1 M. Alkan Donmez and Johannes A. Soons Manufacturing Engineering Laboratory National Institute of Standards and Technology Gaithersburg, MD 20899 ABSTRACT Automation has significant impacts on the economy and the development and use of technology. In this section, the impacts of automation on precision, which directly influences science, technology, and the economy, are discussed. As automation enables improved precision, precision also improves automation. Followed by the definition of precision and the factors affecting precision, the relationship between precision and automation is described. This section concludes with specific examples of how automation has improved the precision of manufacturing processes and manufactured products over the last decades. 1.5.1 What is precision Precision is the closeness of agreement between a series of individual measurements, values, or results. For a manufacturing process, precision describes how well the process is capable of producing products with identical properties. The properties of interest can be the dimensions of the product, its shape, surface finish, color, weight, etc. For a device or instrument, precision describes the invariance of its output when operated with the same set of inputs. Measurement precision is defined by the International Vocabulary of Metrology [1] as the "closeness of agreement between indications obtained by replicate measurements on the same or similar objects under specified conditions." In this definition, the "specified conditions" describe whether precision is associated with the repeatability or the reproducibility of the measurement process. Repeatability is the closeness of the agreement between results of successive measurements of the same quantity carried out under the same conditions. -
Chapter 5 the Americans.Pdf
Washington (on the far right) addressing the Constitutional Congress 1785 New York state outlaws slavery. 1784 Russians found 1785 The Treaty 1781 The Articles of 1783 The Treaty of colony in Alaska. of Hopewell Confederation, which Paris at the end of concerning John Dickinson helped the Revolutionary War 1784 Spain closes the Native American write five years earli- recognizes United Mississippi River to lands er, go into effect. States independence. American commerce. is signed. USA 1782 1784 WORLD 1782 1784 1781 Joseph II 1782 Rama I 1783 Russia annexes 1785 Jean-Pierre allows religious founds a new the Crimean Peninsula. Blanchard and toleration in Austria. dynasty in Siam, John Jeffries with Bangkok 1783 Ludwig van cross the English as the capital. Beethoven’s first works Channel in a are published. balloon. 130 CHAPTER 5 INTERACT WITH HISTORY The year is 1787. You have recently helped your fellow patriots overthrow decades of oppressive British rule. However, it is easier to destroy an old system of government than to create a new one. In a world of kings and tyrants, your new republic struggles to find its place. How much power should the national government have? Examine the Issues • Which should have more power—the states or the national government? • How can the new nation avoid a return to tyranny? • How can the rights of all people be protected? RESEARCH LINKS CLASSZONE.COM Visit the Chapter 5 links for more information about Shaping a New Nation. 1786 Daniel Shays leads a rebellion of farmers in Massachusetts. 1786 The Annapolis Convention is held. -
Age of Jackson
Name: ____________________________________ 8th Grade U.S. History STAAR Review Age of Jackson FORT BURROWS 2018 Name: ____________________________________ VOCABULARY Jacksonian democracy – when property qualifications were no longer required and the “spoils system” was introduced Industrialization-To develop new factories or businesses on a large scale. Urbanization-The process of moving into cities Labor/Laborers-Work. Workers Canal-A man-made waterway that allows for boats or ships to pass Innovation-A new method, idea or product Powered Loom-A water powered sewing machine Steamboat-A steam-powered barge that changed the way goods were transported on by river Cotton Gin-A machine that removed the seeds from cotton. Interchangeable Parts-Using a mold to make the same item over and over so that it could be easily replaced. Telegraph-A communication device that allowed people to send messages to a machine far away connected by a set of wires. Revolution-A period of rapid change Production-The act of making something Rural-In the countryside, areas of low population density Urban-In the city Mechanical Reaper-A machine that picked crops so that people did not have to do it by hand banking system - provisions - a condition that is included as part of an agreement or law resettlement - to begin to live in a new area after leaving an old one compromise - a way of reaching agreement in which each person or group gives up something that was wanted in order to end an argument or dispute election - the act or process of choosing someone for a public office by voting states’ rights - Rights guaranteed to the states under the principle of federalism immigration - to come to a country to live there ©2017 Koala Case Curriculum Name: ____________________________________ mass production - to produce very large amounts of (something) usually by using machinery factories - a building or group of buildings where products are made manufacturing/manufactured - to make (something) usually in large amounts by using machines Free enterprise system – the US economic system. -
How the Death of 'King Cotton' Led to Increased British Interest in India
ENGL1101 Student: John Mays Instructor: Nathan Camp “Maharaj Cotton” How the Death of “King Cotton” Led to Increased British Interests in India In the 1830s, the Southeastern states were developing as a new economic power. The new growth was due to one crop — cotton. By 1860, nearly sixty percent of the total United States export was cotton. This cash crop pushed the young nation onto the world economic stage. In 1861, the nascent Confederacy was totally dependent on this “King” of the economy, and it played a major role in the Confederacy's downfall. As the American War Between the States dragged on and the Union blockade on Confederate ports remained in place, cotton exports decreased from a mighty river to a trickle. British textile mills, dependent on this supply, ground to a halt, and an alternative source of cotton had to be found. The eyes of a desperate Britain fell on India, and as “King Cotton” destroyed one country, it gave birth to another. Though the sphere of influence of cotton during the War Between the States is normally restricted to the United States, the deficit of southern cotton caused an increased British interest in the governing and development of India as a cotton producer. Prior to the invention of the cotton gin in 1794, large-scale production of long-staple cotton in the South was largely impractical. Long-staple cottons are known and named for their long fibers and high quality, and these varieties were desired by textile mills in Britain because they could be made into high-quality cloth. -
Challenge Bowl 2020
Notice: study guide will be updated after the December general election. Sponsored by the Muscogee (Creek) Nation Challenge Bowl 2020 High School Study Guide Sponsored by the Challenge Bowl 2020 Muscogee (Creek) Nation Table of Contents A Struggle To Survive ................................................................................................................................ 3-4 1. Muscogee History ......................................................................................................... 5-30 2. Muscogee Forced Removal ........................................................................................... 31-50 3. Muscogee Customs & Traditions .................................................................................. 51-62 4. Branches of Government .............................................................................................. 63-76 5. Muscogee Royalty ........................................................................................................ 77-79 6. Muscogee (Creek) Nation Seal ...................................................................................... 80-81 7. Belvin Hill Scholarship .................................................................................................. 82-83 8. Wilbur Chebon Gouge Honors Team ............................................................................. 84-85 9. Chronicles of Oklahoma ............................................................................................... 86-97 10. Legends & Stories ...................................................................................................... -
Anna Tripp Lost Three Fingers Today.” a Neighboring Mill Owner Has Just Left After Sharing Some Bad News
324-329US8P R U3C11S1 11/26/02 2:43 PM Page 325 TERMS & NAMES 1 Early Industry and Samuel Slater Industrial Revolution Inventions factory system Lowell mills interchangeable MAIN IDEA WHY IT MATTERS NOW parts Robert Fulton New machines and factories changed The industrial development that Samuel F. B. Morse the way people lived and worked in began more than 200 years ago the late 1700s and early 1800s. continues today. ONE AMERICAN’S STORY In 1789, the Englishman Samuel Slater sailed to the United States under a false name. It was illegal for textile workers like him to leave the country. Britain wanted no other nation to copy its new machines for making thread and cloth. But Slater was going to bring the secret to America. When he got to New York, he wrote a letter to Rhode Island investor Moses Brown. A VOICE FROM THE PAST A few days ago I was informed that you wanted a manager of cotton spinning . in which business I flatter myself that I can give the greatest satisfaction, in making machinery, making good yarn, either for stockings or twist, as any that is made in England. Samuel Slater, quoted in Samuel Slater: Father of American Manufactures With Brown’s backing, Slater built the first successful water-powered Samuel Slater’s mill was textile mill in America. You will learn in Section 1 how the development located in Pawtucket, Rhode Island. of industries changed the ways Americans lived and worked. Free Enterprise and Factories The War of 1812 brought great economic changes to the United States. -
Stephenville Curriculum Document Social Studies Grade: 2 Course: Bundle (Unit) 7 Est
STEPHENVILLE CURRICULUM DOCUMENT SOCIAL STUDIES GRADE: 2 COURSE: BUNDLE (UNIT) 7 EST. NUMBER OF DAYS: 14 UNIT 7 NAME HISTORICAL FIGURES/INVENTORS Unit Overview Narrative Our lives are better today because of the hard work, inventiveness, and risks taken by people in the past. Generalizations/Enduring Understandings Inventors and their inventions shape the way people live by making life easier and more productive. Historical figures helped shape the way we live today. Concepts Inventors and Historical figures What inventions have had the greatest impact on our lives? Why? Guiding/Essential Questions What role does failure play in achieving success? How did various historical figures help shape America today? Learning Targets Formative Assessments Summative Assessments TEKS Specifications TEKS (Grade Level) / Specifications (1) History. The student understands the historical •MLK, Jr. Day significance of landmarks and celebrations in the •Discuss his life, values, and beliefs in equality for all people. community, state, and nation. The student is expected •Declared as a national holiday to be celebrated the 3rd to: Monday in January (A) explain the significance of various community, state, and national celebrations such as Veterans Day, Memorial Day, Independence Day, and Thanksgiving (3) History. The student understands how various •Autobiographies/Biographies sources provide information about the past and •Websites present. The student is expected to: •Photographs (A) identify several sources of information about a given period or event such as reference materials, biographies, newspapers, and electronic sources, (B) describe various evidence of the same time period using primary sources such as photographs, journals, and interviews. EDITED JULY 2013 (4) History. The student understands how historical Irma Rangel-first female Mexican American legislator figures, patriots, and good citizens helped shape the Thurgood Marshall-first African-American on the US community, state, and nation. -
Colt╎s Patent Fire Arms Manufacturing Company Collection
http://oac.cdlib.org/findaid/ark:/13030/c8hh6mgb No online items Finding Aid to the Colt’s Patent Firearms Manufacturing Company Collection 89.62 Finding aid prepared by Holly Rose Larson and Jeffrey Richardson Autry National Center, Autry Library 4700 Western Heritage Way Los Angeles, CA, 90027 (323) 667-2000 ext. 349 [email protected] 2012 March 7 Finding Aid to the Colt’s Patent 89.62 1 Firearms Manufacturing Company Collection 89.62 Title: Colt’s Patent Fire Arms Manufacturing Company Collection Identifier/Call Number: 89.62 Contributing Institution: Autry National Center, Autry Library Language of Material: English Physical Description: 3.4 Linear feet(2 boxes) Date (inclusive): 1894-1946 Abstract: Samuel Colt patented his revolver with a mechanically rotating cylinder in 1835 and 1836. It revolutionized the firearms industry and was the first truly global manufacturing export in American history. The success of the revolver ultimately allowed Samuel Colt to incorporate Colt’s Patent Fire Arms Manufacturing Company in 1855. This collection of Colt’s Patent Fire Arms Manufacturing Company documents spans 1894-1946 and includes contracts, correspondence, invoices, memos, notes, receipts, stock certificates, and trademark registration certificates regarding manufacture, registration and trade of Colt products. Language: English, Spanish, French. creator: Colt Manufacturing Company creator: Colt's Patent Fire Arms Manufacturing Company creator: Colt, Samuel, 1814-1862 Access Collection is open for research. Appointments to view materials are required. To make an appointment please visit http://theautry.org/research/research-rules-and-application or contact library staff at [email protected]. An item-level inventory is available from library staff. -
Peasantry and the French Revolution
“1st. What is the third estate? Everything. 2nd. What has it been heretofore in the political order? Nothing. 3rd. What does it demand? To become something therein.” -Abbe Sieyes 1789 Pre-Revolution • Louis XVI came to the throne in the midst of a serious financial crisis • France was nearing bankruptcy due to the outlays that were outpacing income • A new tax code was implemented under the direction of Charles Alexandre de Calonne • This proposal included a land tax • Issues with the Three Estates and inequality within it Peasant Life pre-Revolution • French peasants lived better than most of their class, but were still extremely poor • 40% worked land, but it was subdivided into several small plots which were shared and owned by someone else • Unemployment was high due to the waning textile industry • Rent and food prices continued to rise • Worst harvest in 40 years took place during the winter of 1788-89 Peasant Life pre-Revolution • The Third Estate, which was the lower classes in France, were forced by the nobility and the Church to pay large amounts in taxes and tithes • Peasants had experienced a lot of unemployment during the 1780s because of the decline in the nation’s textile industry • There was a population explosion of about 25-30% in roughly 90 years that did not coincide with a rise in food production Direct Causes of the Revolution • Famine and malnutrition were becoming more common as a result of shortened food supply • Rising bread prices contributes to famine • France’s near bankruptcy due to their involvement in various