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Jan 1, 1500
Columbian Exchange
The Columbian exchange was the exchange of plants, animals, diseases, and technology from the new world and old world. It resulted in demographic, economic, and social changes to both Worlds. New sources of mineral wealth helped shift from feudalism to capitalism. Mercantilism is when a country gains wealth through trade with other countries. -
Indentured Servants
indentured servants was a labor system where 5-7years of freedom was exchanged to come to America. -
navigation acts
series of laws that restricted foreign trade with colonies. it was meant to force colonies to trade only with England. This was a part of mercantalism -
Stamp Act of 1765
The stamp act made colonists aware of impact of British taxation. All purchased paper had to have stamp to prove the tax had been paid. -
Townshend act
Townshend act placed higher taxes for those that sold goods like glass, paper, and tea. Colonists didn't like the harsher taxes and they began protesting because these were external taxes rather than internal. -
Steam Engine
the steam engine used coal rather than water. it Powered machines like cotton mills. It lead to the factory system and it allowed factories to be built everywhere. -
molasses act
A tax placed on imported molasses from Non-British colonies. It was an attempt to regulate trade by making british products less expensive than the French. -
Tea act of 1773
The tea act lowered taxes on tea but colonists were unwilling to cooperate with any attempt by British to collect taxes. Colonists refused to purchase tea. As new shipment of tea sat on the Boston Harbor, a group of colonists dressed as native Americans boarded the ship and dumped the tea on the harbor. It was known as the Boston Tea Party. -
Cotton Gin
the cotton gin was invented by Eli Whitney. The cotton gin seperates seed from raw cotton fibers. It made cotton plantations increase the use of slaves. -
Steam Boat
the steam engine was designed by Robert Fulton. it was designed to move against the current or wind. It created more oppurtunities for trade and transportation. -
Embargo Act
Thomas Jefferson didnt want to go to war in the Napoleonic wars, so he passed the act which forbade merchants from engaging in foreign trade. -
Tarrif of 1816
the tarrif of 1816 issued 20% tarrif on all imported goods. It was passed to encourage the buying of American goods. -
Panic Of 1819
the second national bank caused financial crisis. severe depression that followed the post-War of 1812 -
Andrew Jackson Shuts Down the Second National Bank
Andrew Jackson used his executive powers to remove all funds from the national bank and placing them into various state banks thus ending the second national bank -
Telegraph
The telegraph, invented by Samuel Morse allowed for faster communication with another city. It brought the nation closer together -
Economic DIsparity
The North had a better more stable economy than that of the south. The North had more factories allowing them to have higher economic production. -
Women during Civil War
Women began working in fields, factories, and as nurses during and after the Civil War. -
Boss Tweed and Tammany Hall
A large policitcal machine run by William "Boss" Tweed. Under Tweed's rule over 200million dollars in today's money was embezzeled. -
Trans- atlantic print culture
popular literature was imported from England to America. it allowed for the Enlightenment, which was a European reform movement. -
Interstate Commerce Act
Gave the federal government the ability to regulate all aspects of interstate commerce. It also made drawbacks and rebates illegal. -
Monetary Policy
Ferderal Governments plan for the makeup and quantity of the nations money supply. -
Sherman Anti-Trust Act
An act passed to oppose the unfair business practices of trusts and monopolies. It worked to limit the power of corporations restoring economic power to the government rather than big businesses. -
Farmers Revolt
a group of poor midwestern and southern farmers who suffered economically due to low prices for crop which they blamed on Northern business interest. -
Panic of 1893
Began 10 days after Cleveland took office and led to the following:
*16,000 businesses disappeared
*several major corporations
*stock market crash
*bank failures
*unemployment -
16th Amendment
Assigned higher tax to those with higher incomes. -
WWI
The economy grew due to the growth of industries and businesses because of the effort to help aid the war. -
mass production
mass production techniques allowed for workers produce more goods in less time. Henry Ford introduced methods that changed the way manufactured goods were made. -
Consumer Culture
Many Americans started buying more goods increasing the economy. They bought these goods with various methods including credit or installment plans. -
American Economy
In the larte 1920s the American industry started to decline because of a decline in industry, and car sells. Many Americans were left in debt and were poor. -
September 3,1929
Everyone went to go buy stocks allowing the stock market to reach an all time high. -
Great Depression
the great depression was an economic slump in the US that began in 1929 and lasted until about 1939.it began soon after the stock market crash on october 1929.many people were unemployed and nearly all the banks failed. -
Tennesseee Valley Authority
the Tennessee Valley Authority brought jobs to people in the Tenessee Valley during a time when people were looking for jobs. TVA brought electricity to the rural South. -
Wartime Mobilization
As a result of America becoming involved in WWII wartime mobilization increased the economy. Jobs were created, industrial productivity increased, and wages increased. -
1950s
Consumer spending increased significantly surpassing that of the 1920s. The electronic industry grow significantly as well. -
Gas shortage
on October 1973, war broke out between Isreal and a coalition of Arab states. Richard NIxon sent military aid to Isreal. OPEC initiated an embargo ofoil exports to US for intervening in the war. Gas shortages devestated the economy and thr natrion fell into a recession. "Stagflation" was high inflation and high unemployment. -
Reaganomics
Ronald Reagan pursued an economic policy called Reaganomics. it included lower taxes, a smaller government, and a stronger military. it seemed to benefit the wealthy people and made the poor poorer. -
2008-2012 Recession
in 2008, people began buying houses they couldnt afford. when the banks stopped lending money, it caused a financial crisis. the stock market collapsed and people got laid off. American cut back on spending.
