Interchangeable Parts Rifle
First prototype of the locomotive
First automated flour mill
Cyrus McCormick & the Mechanical Reaper: 1831
1840 – Telegraph
1840s Sewing Machine
They all regarded material advance as the natural fruit of American republicanism & proof of the country’s virtue and promise.
A German visitor in the 1840s, Friedrich List, observed:
Anything new is quickly introduced here, including all of the latest inventions. There is no clinging to old ways. The moment an American hears the word “invention,” he pricks up his ears.
The blue line shows, for comparison, the price of a year’s tuition at Harvard College. In 1790 it was $24, but by 1860 had risen to $104.
Supreme Court Rulings: * Fletcher v. Peck (1810) * Dartmouth v. Woodward (1819) * McCulloch v. Maryland (1819) * Gibbons v. Ogden (1824) * Charles Rivers Bridge v. Warren Bridge (1835)
General Incorporation Law passed in New York, 1848.
Laissez faire BUT, govt. did much to assist capitalism!
During the American Revolution, 45% of all wealth in the top 10% of the population.
1845 Boston top 4% owned over 65% of the wealth.
1860 Philadelphia top 1% owned over 50% of the wealth.
The gap between rich and poor was widening!