Most independent craftspeople flourished in the economic environment promoted by the new capitalist class False.
The telegraph's invention in the late 1840s accelerated news reporting and dissemination; the Associated Press was established in 1849 to make use of the new technology.
In the 1840s, merchant capitalists continued to play significant roles in places like New York, Philadelphia, and Boston. However, merchant capitalism was in decline overall, largely due to the fact that manufacturing offered more lucrative chances for profit.
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