U.S. Economic Transformations

Constitution is Written

Jul 4, 1776

One of the biggest grievances of the Americans was taxation withour representation.

First Bank of the United States is Created

Feb 25, 1791

Propesed by Alexander Hamilton to handle the financial needs of the new government.

Eli Whitney Invents Cotton Gin

Mar 14, 1794

The cotton gin allowed the seeds to be removed from cotton at a much quicker rate. Cotton production increased greatly and also greatly entrenched the US in the slave system.

Second National Bank is Chartered

Mar 9, 1816

Founded by many of the same congressman who originally declined its recharter in ordere to finance the war of 1812

Gibbons vs. Ogden

Mar 2, 1824

The supreme court holds that the power to control interstate commerce is given to congress by the commerce clause.

Erie Canal is Finished

Oct 26, 1825

First canal between eastern seaboard and western interior. Cut transportation costs by 95%.

Railroads Begin to Have an Effect

Period: Jan 1, 1850 to Dec 31, 1873

Gilded Age

Period: Mar 9, 1865 to Mar 9, 1900

Time of rapid economic and population growth, but, as the name implies, there was a darker side if you peeled off the top layer.

Lochner vs. New York

Apr 17, 1905

Wanted to limit work day of a baker to 10 hours but was invalidated by supreme court. Led to "Lochner Era" of invalidating laws wishing to regulate working conditions.

Food and Drug Administration

Jun 30, 1906

The FDA is created due to poor condition that were made known by muckrakers such as Upton Sinclair.

Model T

Oct 1, 1908

First economically viable automobile. Cheap, easy to repair, and simple to drive. In the 20's the majority of american drivers had learned with a Model T.

Standard Oil Dissolved

Mar 7, 1911

Possibly the Unites States' largest company ever is broken up.