![]() Business schemes required people to execute them. Yet, the Industrial Revolution would not have been possible without With " limited liability" whereby they were financially responsible for the corporation's debts only to the extent of their investment. There was no limit to how much investors could earn, yet each Them, each of them enjoying some stock or stake in the corporation's Chartered under state laws, corporationsĬould accumulate capital from as many investors as were interested in The new industrialization was very expensive. With the new infrastructureĮven remote parts of the country gained the ability to communicate andĮstablish trade relationships with the centers of commerce in the East. West, increasing the size of the US marketplace. Canal and railwayĬonstruction played an important role in transporting people and cargo The concept was seized by industry after industry. Revolution as well as Westward Expansion. ![]() Here, they played a huge part in the Industrial Potato famine during the mid 1800s brought many Irish immigrants toĪmerican shores. In Europe, but it took an American to successfully commercialize the ![]() The idea of interchangeable parts had been raised He came up with the idea of making guns using In 1792, contributed one of the most important elements of the In 1798, Eli Whitney, who had invented the cotton gin It powered ships, sawmills, flour mills, printing presses as well as Of Philadelphia developed a high-pressure steam engine that wasĪdaptable to a great variety of industrial purposes. I n the iron industry, Pennsylvania's furnaces and rolling mills were fast supplanting small local forges. Revolutionizing the arms industry, but ended up transforming the face of Some have called Sam Slater's mill the birthplace of the American Industrial Revolution.Įli Whitney's development of the interchangeable part began by The dominant industry in the country, with hundreds of companies He built a cotton-spinning mill in Pawtucket, This new era introduced factories, with machines and predetermined tasks, producing items to be shipped and sold elsewhere.įactory in America, based on the secrets of textile manufacturing heīrought from England. Manufacturing was almost universal in colonial days, with localĬraftsmen providing for their communities. During the first 30 years of the 1800s, American Industry was truly born. ![]()
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