How Capitalism developed in America

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How Capitalism developed in America
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Free Trade

• This is the meaning of capitalism, different
  from mercantilism and communism
• Based on ideas in Wealth of Nations by Adam
  Smith

3
Protective Tariffs

• Favored by people in the North
• Helped Businesses to grow

4
Transportation Systems

• Erie Canal connected New York with the Great
  Lakes
• Rail Roads Transcontinental connected east and
  west coast, San Francisco becomes Banking Center
• Cumberland Road Appalachia with the rest of
  America
• Steam Boats Mississippi River

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National Bank

• Favored by Federalists
• Dismantled by Jackson and the Democrats

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Free Trade