ECONOMIC DIFFERENCES

WHERE DID IT BEGIN?

• The industrial revolution began in Britain before the U.S.
• The British were the first to use machinery to mass produce

DEVELOPMENT OF AMERICAN INDUSTRY

• The U.S industrial revolution happened after the British revolution
• This development included:
• New machinery
• Mass production of items (more American made products)
• More jobs

DIFFERENT TYPES OF INDUSTRIES

• There were many different industries booming at this time.
• One of the greatest industries that revolutionized was the cotton industry.
• The invention of the cotton gin increased cotton production in the south.
• Other industries: coal mines, textile industry, oil, steel, and railroad.

ECONOMIC CHANGES

• Many farmers had lost money from their farms.
• This was all because of the industrial businesses and there mass producing
• Many farmers ended up going to these booming industries looking for jobs

DIVISION IN THE COUNTRY

• Since the industrial revolution, the U.S had "divided" production wise
• These two sides were the north and the south
• This division was because of climate (regional) and economical differences

NORTH

• The north did not have as good weather as the south
• Because of this not as much farming was done in the north
• Most farmers in the north only had small farmers to support family
• To be successful the farmers relied on growing livestock and cattle
• There weren't many slaves in the north

NORTH CONTINUED

• Since agriculture was low, the north relied on the industries
• The textile industry was one of the biggest industries
• The north became known as the industrial side of the country

SOUTH

• The invention of the cotton gin made the south
• Cotton became the cash crop of the south
• Because of the demand for cotton there was a demand for laborers
• This increased the demand for slavery
• The southern plantations were much bigger than those of the north

SOUTH CONTINUED

• Manufacturing in the south did not compare to the north
• The only major thing being produced was cotton
• The south was more famous for agriculture and cotton production

AMERICAN SYSTEM

• Madison's plan for improving the U.S was a transportation system
• He wanted roads, canals, and any type of transportation to unite America
• This would improve trade and selling
• Henry Clay promoted it as the American System

EFFECTS OF AMERICAN SYSTEM

• North would manufacture what the south and west would farm.
• The north would sell to the south and west.
• South and west would sell or trade back grains and meet to north
• It was a circular system of wealth.
• This all could happen because of the transportation systems.

TARIFFS IN AMERICA

• Taxation on imports was meant to help American production
• The north didn't mind the tariffs
• The south did though because they acquired items from foreign countries

SECOND NATIONAL BANK

• The idea for the second national bank was favored
• It created available currency that was accepted nationwide
• People from all over the country could trade and sell now.

OVERALL

• Now America had a system in place to compete with the world
• They could mass produce and sell to their own country, and foreign countries
• This boosted our economy