In the 1790s, contrasting views of how America should progress economically and how its government should be run sprouted with the development of the state’s first political parties. The Republican and Federalist parties were the first two parties in America. The leader of the Federalist Party was Alexander Hamilton while the Republican president was Thomas Jefferson. In the Federalists’ party, the Federalists backed up Hamilton’s program for economic growth. For instance, they assumed that trade and manufacturing as the drivers of economic growth for any economy. Moreover, it favored offering subsidies to the government to improve trading, financing, and manufacturing. Hamilton viewed these driving factors as key to facilitating a nation with a strong currency and a sound public credit.
The Republicans incorporated Thomas’ vision of an agrarian nation. The Republicans perceived that freedom and democracy thrived in a community encompassing self-independent farmers. The supporters saw ‘agriculture’ as the backbone of the economy. Furthermore, the Republicans viewed a strong federal government as the root to prevalent oppression. On the contrary, Hamilton’s opinion asserted a loose interpretation of the Constitution. Besides, Jefferson’s ideology favored the strict interpretation of the constitution. The party boasted of its strongholds in the South, South West, and the Frontier.
How did the Louisiana Purchase further Jefferson's goals?
Jefferson’s goal for Territorial expansion is contained in the Louisiana Purchase, which advocates for economic freedom for white farmers and entire expansion of the Cotton Kingdom and Slavery. The acquired land secured trade rights over the Mississippi River and also coaxed out France from America and this lessened tensions. Jefferson felt threatened as he foresaw as if the Napoleon would strive to guarantee France as the first power in America and that the situations that he controlled Louisiana, the westward expansion of the US would be blocked.
The upsurge in the population and commerce, agriculture and the Louisiana Purchase allowed laborers to strengthen the nation. The prevalent rise in agricultural activities coaxed families out of their initial residential areas to settle in other areas. The increased immigration activities allowed persons to embrace the frontier character of independence, curiosity and cooperation that have to be linked with this America’s character.
How did the War of 1812 further Hamilton's?
One of the most crucial Hamilton’s achievements concerning 1812 war was the opening of a national bank. Hamilton believed that the North American Bank was essential in the government’s capability to prosecute and win the wars of liberation. He perceived that a similar institution was essential for America to overcome during wars. Hamilton stated that war was typically an ordinary and recurring feature of war. He viewed that only a soundly manage government would find it possible to overcome the war situation.
Hamilton’s opinion foresaw that wars required certain levels of preparedness. He added that a government can fundraise the money through taxation as well as accessing credit facilities from small lenders which may not be that effective. However, borrowing as well taxation activities are time-consuming ones and the government may not have ample time to cater for these activities.
Besides its critical role in the occurrence of the 1812 war, Hamilton also thought that a national bank would be vital to the normal processes of the government and aid to boost the infant American economy. A national bank provided a podium where the government could sum the revenues it collected from various venues. Likewise, it would circulate a paper money in relation to its gold and silver deposits, which currency would in turn offer a suitable medium by which inhabitants could pay their taxes.
What factors were involved in creating the market revolution?
The market revolution was typically a dramatic alteration in scale and effect of market activity. One of the major factors that facilitated market revolution was immigration. In the US, the population immensely increased between 1820 and 1840. This was as a result of critical improvements in public health. Also, there was a decline in epidemics and mortality. Moreover, the population also increased because of immigration. The immigration boom occurred since most people preferred to work in the US as the economic opportunities increased. In comparison to other European countries, the economic situation was much better in the US. The rural-urban migration also led to the growth of cities and urban areas and all these population factors contributed to the market revolution.
Other factors that contributed to the market revolution includes the improvements in transportation, increased industrialization, and improvements in communications. The invention of steamboats by Robert Fulton in 1807 improved navigation. People stopped relying on winds and currents, and they could travel at any point. In the north, the Erie Canal was built to link the western farmers and the eastern manufacturers. The North continued to advance economically while the South lagged behind because it was isolated. After the discovery of steamboats and railroads, the market revolution was improved as people and goods could be transported easily.
Industrialization was a major factor towards the market revolution. For example, the invention of the cotton gin promoted the state of agriculture. Most of the farmers had abandoned cotton farming for rice and tobacco because it was labor intensive. The cotton gin boosted the economy of the south and the factories located in the North could comfortably produce cotton cloth. The invention of the steel pillow and the mechanical power reaper also helped to improve the state of agriculture and this improved the market revolution. The Lowell system also contributed to the market revolution in various ways. It increased the number of female employees in the working class. Moreover, it created a highly regulated environment that protected people interests and at the same time restored order in the market activities.
What factors were involved in creating the industrial revolution?
It is clear that the industrial revolution started in the Great Britain because of various factors. The discovery of new inventions plays a significant role. The main factors include the availability of raw materials, the introduction of new technology, economic conditions, and the political and social conditions. The availability of raw materials had a major impact on industrialization. The supply of coal was unlimited and significantly used by the steam engines. At the same time, more machinery was built because of the availability of iron. The new forms of technologies created notable inventions that improved the way of life. The improvement of infrastructure led to better roads, and communications networks, as industrialization advanced. The commercialization of agriculture was fundamental because it experienced the introduction of new farming equipment, crops, and land ownership. Population increase meant the creation of new markets and ventures to sustain people economically.
