REGIONAL ECONOMIES

INDUSTRIAL REVOLUTION

• The revolution of new technology that made producing things easier.
• It began in England when inventors began inventing things to make work
• in the field easier.
• It eventually moved to America and mostly affected larger cities like the ones
• in New England.

AMERICA

• America gained a lot of wealth during the Industrial Revolution.
• It mostly affected the New England area.
• It started when a British inventor created a new way to create textiles.
• This started other companies to do this which created more factories.

THE NORTH

• With the Revolution happening America split into two parts.
• The North had different outcomes from this new revolution
• due to its climate the north couldn't have an agricultural based economy
• so it's economy is mainly based off of factories and trade with other countries.

THE SOUTH

• The South's economy was agriculturally based.
• The cotton gin was the outcome of the evolution for the South.
• The cotton gin was an invention that produced cotton quicker.
• This boosted the economy and cotton quickly became a cash crop.

SLAVERY

• However, with an increase in production of cotton came an increase of slaves.
• After the cotton gin was invented the need for slaves was nearly doubled
• from 1790-1810 the number of slaves jumped from 700,00 to 1,200,000.

AMERICA AGAIN

• James Madison saw how the economies differed and suggested to unify them
• he did it with the American system.
• It consisted of three parts.
• To create transport between the two regions.
• To establish a protective tariff, & to resurrect her National bank.

UNITING THE ECONOMIES

• The main way to unite the economies was to benefit them both.
• The plan was that the North would sell manufactured goods to the South,
• and the South would sell agricultural goods to the North.

INTERNAL IMPROVEMENTS

• In order for this to happen connections needed to be made.
• The construction of the National was underway which connected Maryland to IL.
• Also a canal was built the Hudson and Lake Erie to make trade easier.

TARIFFS AND THE NATIONAL BANK

• Madison implemented the tariffs to stimulate the economy.
• Most people were indifferent for that idea.
• However, most people did agree on the National Bank.

THE ELECTION OF 1816

• After all of this, the election of 1816 has come around.
• The winner was James Monroe.