Lecture 31Outline of Previous LectureI. Trans-MississippiII. TexasIII. Manifest DestinyIV. OregonOutline of Current LectureI. Economicsa. Telegraphb. RailroadsII. Business TermsIII. Political shiftCurrent lectureWestwardEconomic AspectTelegraphTravel approx. as fast as a human can speakBefore telegraph the fastest way was through a horseExpanding railroadsCompeted with canalsTransported goods and peopleDomestic and foreign capitalCapital-money to investStock and bond salesDomestic steel industrySteel-more useful (bendable) than ironUsed for railroadsLocal government-secured bondsStates will back it upPublic landsNorth has most of the railroadsDisadvantage to the south in the civil warGold1848Young bachelorsInstant commerceConsequencesProstitutionRace-based violenceAfrican AmericansChineseNative AmericansEnvironmental damageBusiness TermsBondDebtTermInterestPrincipal returnedStockOwnershipAssetsEarningsDividendsIndustrial RevolutionInterchangeable partsEli WhitneyContinuous processMachine toolsAgricultural AdvancesSteel plow (John Deere)Threshing machine (Cyrus McCormick)TransportationImmigrationIrish potato famineGermansReligious distinctionRural versus urbanConditions in citiesStephen A. DouglasDemocraticIllinoisExpansionist foreign policyEconomic developmentStatesTerritoriesSolution to slavery=compromiseSectional crisisViolence among GentlemenSen. Charles Sumner (R-MA)Sen. Andrew Butler (D-SC)Rep. Preston Brooks (D-SC)PrecedenceNorthwest Ordinance1787No Slavery north of Ohio RiverMissouri Compromise-1820Abolitionist positionWilliam Lloyd GarrisonCondemned US ConstitutionDid not handle the issue of slaveryThe answer to slavery is to a higher power-GodWilmot Proviso1846-1848Territory gained from Mexican WarNo slavery“Free Soldiers”“Popular sovereignty”People would decide on statehood issuesWhig vs. democrat 1848Taylor vs. CassWhig electedCompromise of 1850CA admitted freeAgriculture and goldNew Mexico an Utah territorial governmentsLocal decision on slaveryNo slave trade in Washington, DCFugitive Slave Act*ReinforcedIf a slave runs away-the law says you must give the slave back to its rightful ownerReaction to Fugitive Slave ActPersonal liberty lawsNo use of state officialsUnderground railroadUncle Tom’s Cabin1852Harriet Beecher StowePolitical ShiftWhigs vs. Democrats (previously)North vs. South (shift)HIST 105 1st EditionLecture 31 Outline of Previous Lecture I. Trans-MississippiII. Texas III. Manifest Destiny IV. Oregon  Outline of Current Lecture I. Economicsa. Telegraph b. Railroads II. Business Terms III. Political shift  Current lecture  Westward  Economic Aspect - Telegraph o Travel approx. as fast as a human can speak o Before telegraph the fastest way was through a horse - Expanding railroads o Competed with canals o Transported goods and people o Domestic and foreign capital  Capital-money to invest These notes represent a detailed interpretation of the professor’s lecture. GradeBuddy is best used as a supplement to your own notes, not as a substitute.o Stock and bond sales o Domestic steel industry  Steel-more useful (bendable) than iron  Used for railroads o Local government-secured bonds  States will back it up o Public lands o North has most of the railroads  Disadvantage to the south in the civil war  Gold - 1848- Young bachelors - Instant commerce - Consequences o Prostitution o Race-based violence  African Americans  Chinese Native Americans o Environmental damage  Business Terms  Bond - Debt - Term - Interest - Principal returned Stock - Ownership - Assets- Earnings - Dividends  Industrial Revolution- Interchangeable parts o Eli Whitney- Continuous process - Machine tools  Agricultural Advances - Steel plow (John Deere) - Threshing machine (Cyrus McCormick) - Transportation  Immigration - Irish potato famine - Germans - Religious distinction - Rural versus urban - Conditions in cities  Stephen A. Douglas - Democratic - Illinois - Expansionist foreign policy - Economic development o Stateso Territories - Solution to slavery=compromise  Sectional crisis Violence among Gentlemen - Sen. Charles Sumner (R-MA)- Sen. Andrew Butler (D-SC)- Rep. Preston Brooks (D-SC)  Precedence  Northwest Ordinance - 1787 - No Slavery north of Ohio River Missouri Compromise-1820  Abolitionist position - William Lloyd Garrison - Condemned US Constitution o Did not handle the issue of slavery o The answer to slavery is to a higher power-God  Wilmot Proviso - 1846-1848- Territory gained from Mexican War - No slavery  “Free Soldiers”  “Popular sovereignty” - People would decide on statehood issues  Whig vs. democrat 1848- Taylor vs. Cass- Whig elected  Compromise of 1850 - CA admitted free o Agriculture and gold - New Mexico an Utah territorial governments o Local decision on slavery - No slave trade in Washington, DC - Fugitive Slave Act*o Reinforced o If a slave runs away-the law says you must give the slave back to its rightful owner  Reaction to Fugitive Slave Act- Personal liberty laws o No use of state officials - Underground railroad - Uncle Tom’s Cabin o 1852o Harriet Beecher Stowe  Political Shift - Whigs vs. Democrats (previously)- North vs. South