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Americas Economy During The 1840's Through The 1860's.

760 words - 3 pages

America's Economy during the 1840's through the 1860'sThe influential factors that contributed to the vigorous economic expansion of America during the 1840's through the 1860's, consisted of the Industrial Revolution, the Improvements in Transportation, and Internal Expansion, all played a vital role in helping form the dynamic economy.The nations industry was rapidly growing more efficient, better quality products, with help of the advances in manufacturing technology. A change from unmarried female factory workers, to Irish immigrants greatly impacted America socially, due to the separation between the natives and the immigrants. Despite the growing separation of classes, this huge amount of workers for factories and consumers for products greatly stimulated the economy. The factory mode of production greatly changed during this time period as well, the weaving and processing of wool was all performed in the same factory, along with iron being forged and rolled in the same location also. The key components of the method of production was having a group of an administer looking over a group of workers in one location, cash wages to the workers, and the use of interchangeable parts. Although mass production was improving, traditional methods maintained and ruled the industries.In early America due to the complexity and cost of moving goods, westerners were in general secluded from the rest of America. A revolution in transportation began to aid the westerners in joining the entire Nation. Roads, railroads and canals improvements began to be developed, helping the improvement in shipping. Canals began to become a key part of transporting products from interior regions where they were grown, to the coast where they were consumed. By 1840; America three thousand miles of canals were controlled by America. Also the railroads were important, because of areas in the U.S. where rivers and canals could not exist, railroads could reach those areas. Unlike canals that could not run during some conditions, such as when water was frozen, railroads could run year round. These transportation improvements helped to cut the costs of goods and increase the speed of moving the goods. Although originally the demand for iron rails was imported from England, eventually it led to the development of domestic iron industry. A new method of financing business enterprise was developed,...

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