The Market Revolution (jan 1, 1790 – apr 1, 1870)

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The Market Revolution was the first period of mass industrialization in the United States. It was marked by new transportation networks, mills and factories, and steam power. Wages stayed low, and many Americans were poor, while factory owners were enriched by new markets opening and growing population/demand. The new industrialization was mostly limited to the North, however, as southern cotton demand increased, establishing two directions of slave labor and free labor. Some cracks in the revolution were exposed during the panics of 1837 and 1857, caused by reckless speculation, currency issues, and cotton price collapses.

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