America and money

U.S. Economic Transformations

  • Constitution is Written

    Constitution is Written
    One of the biggest grievances of the Americans was taxation withour representation.
  • First Bank of the United States is Created

    First Bank of the United States is Created
    Propesed by Alexander Hamilton to handle the financial needs of the new government.
  • Eli Whitney Invents Cotton Gin

    Eli Whitney Invents Cotton Gin
    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

    Second National Bank is Chartered
    Founded by many of the same congressman who originally declined its recharter in ordere to finance the war of 1812
  • Gibbons vs. Ogden

    Gibbons vs. Ogden
    The supreme court holds that the power to control interstate commerce is given to congress by the commerce clause.
  • Erie Canal is Finished

    Erie Canal is Finished
    First canal between eastern seaboard and western interior. Cut transportation costs by 95%.
  • Period: to

    Railroads Begin to Have an Effect

  • Period: to

    Gilded Age

    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

    Lochner vs. New York
    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

    Food and Drug Administration
    The FDA is created due to poor condition that were made known by muckrakers such as Upton Sinclair.
  • Model T

    Model T
    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

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