The Second Bank Of The United States During The War Of 1812

The south began to rely on agriculture as their basis of economic growth. For this to be success, slavery was an almost a natural need for the people of the south. Cotton began to grow as a cash crop for the South. Cotton was dependent on many workers needed for it to exist, thus the need for such a large amount of work force. Slavery in the late 1700’s was beginning to die down and cotton was paying the biggest price for it. Not until Eli Whitney’s invention of the cotton gin did the issue of slavery spark up again and cotton begins to thrive. In 1820 Missouri wished to be part of the Union as a slave state. With there already being an equality of Slave states and Free states it caused tension and sectionalism within the country; because of the edition of Missouri would cause an unbalance of free and slave states. In hopes to resolve this conflict a compromise was reached known as the Missouri Compromise. Through the Missouri Compromise Missouri was able to enter as a slave state, while Maine was able to enter as a free state. However, as pointed out, it created a line between slave states and Free states. Any state below Missouri was able to practice slavery, and any state above was to be a Free State. Even John Quincy Adams led to the sectionalism, with his supportive views of the Compromise. (Document F) He expressed views in the emancipation of slavery as a

During the early 1800's France and Britain were at war and for many years America remained neutral. But, Great Britain began seizing American ships and impressing the Americans into the British Navy. In addition, Great Britain was supplying the Native Americans in North America with guns and, as a result America declared war on Britain in 1812. The phrase "Era of Good Feelings" was used to describe the administrations of Munroe in 1816 but the validity of this phrase is questioned. Many people might believe that the period after the war of 1812 was an "Era of Good Feelings" because of the nation's gain of nationalism and expansion of the country, but it was not because of growing sectionalism and state issues.

The period after the War of 1812 during the presidency of James Monroe is often referred to as the “era of good feelings” because of a feeling of nationalism, a feeling of pride and national unity. The end of the Federalist Party also provided the nation with a feeling of nationalism, for there was no political opposition toward the Republicans. This title, however, may not be the most accurate label for this particular time period, for this time period marked the beginnings of sectionalism, with heated debates over tariffs, the National Bank, and most importantly, over slavery.

The period after the war of 1812 was labeled “The Era of Good Feeling” by historians. Some people believe that this is an accurate label of this time period, but others disagree. Due to the emergence of sectionalism- concern with local interests, and nationalism- patriotic feelings and self pride, people had mixed feelings about this time period. Many people felt that times were high, and that nationalism and sectionalism could only bolster the union, while others thought that it was sectionalism and nationalism that caused disunion. Some of the documents used in this essay support the claim that the period after 1812 was an era of good feelings. Other documents will oppose this claim with proof from their own perspectives.

This program, called for by President James Madison, required a large domestic package, including protection of domestic manufacturing, infrastructure investment, a stable currency, and a fairly large standing army and navy. Clay was eager to support this program. The American System was deeply rooted in Alexander Hamilton’s American school. One of his first initiatives to support this plan was following the conclusion of the War of 1812. After the war had ended, the American ports were being flooded with inexpensive British goods. With help from John Calhoun and William Lowndes, Henry passed the Tariff of 1816. This tariff protected American goods and helped to raise revenue. In order to stabilize the currency of the United States, Clay helped to propose the creation of the Second Bank of the United States. President James Madison approved of this Bank, and it was first established in

Due to the compromise in the 1820, stimulation of freeing of slaves in the North was strengthened, along with the laws of slave rights in the south. It revealed to the North, that slavery was rapidly falling out, and the economic consequences could be a major problem as cotton gin was such a successful profit with the use of slaves in the south.

The “Era of Good Feelings” struck a period in the political history in the United States that mirrored a sense of countrywide drive and a plea for unity among all Americans after the War of 1812. The era exposed in the one sided disputes that overcame the Democratic-Republican and Federalist parties. President James Monroe tried to consolidate parties, with the goal of eliminating the ideas of parties altogether from politics. After the War of 1812, the United States began outpouring in nationalist pride. Nonetheless, the United Stated was still divided. Citizens and leaders were developing ideas to make this country thrive and become one. In December 1815, President James Madison set forth a plan to promote economic development, which he called the American System. This plan fixed in three parts: a new bank, a federal financing for roads and canals and a tariff

In 1820, Congress passed the Missouri Compromise into law which not only banned slavery in the former Louisiana Territory north of the 36°30' latitude line but admitted Missouri into the Union as a slave state and Maine as a free one. This shows how much Northerners and Southerners were divided over the issue of slavery in the western territories considering a law had to be implemented merely for Missouri to receive statehood. The reason why this was such a huge deal was because the North didn’t want there to be more slave states than free states since that would mean the South would possess more representation in Congress and thus more control over legislation. Even though the slavery issue seemed to be resolved by this compromise, tensions between the North and South regarding this practice came about once more under the presidency of James K. Polk. He was president during the Mexican-American War, a conflict which arose after the annexation of Texas that resulted in the United States acquiring the Mexican Cession under the Treaty of Guadalupe-Hidalgo (1848). Sectionalism was present in the nation again considering the North and the South were at each other’s throats because the two couldn’t agree on whether to allow slavery in the lands the country received from Mexico. After the Wilmot Proviso failed which was an attempt to ban

Have you ever wondered if the Era of Good Feelings truly deserves it’s name? The years between 1815 and 1825 were not pleasant years for the United States. The Era of Good Feelings does not deserve its name because of financial problems and an ununited nation. To begin with, the Era of Good Feelings doesn't deserve its name because it has many financial problems. The year of 1819 was known as “The Panic of 1819” because America suffered a huge financial crisis.

During Monroe’s two terms, sectionalism, an excessive regard for sectional or local interest, increased greatly. This increase in sectionalism is due to acts like the Tariff of 1816. A tell tale sign that the Tariff of 1816 was going to cause sectionalism was that in the U.S. House of Representatives, the

Although the aftereffects of the era of good feelings dominated the beginning of the time period and compromises were at first effective, sectionalism over national subjects, especially slavery, led to a crisis in which compromises often meant more increase in political tensions. (Doc F) Sectionalism abruptly increased in the 1820 and 1830's with The Missouri Compromise and the Tallmadge Amendment. Tallmadge's radical proposition was that Missouri gradually emancipated its slaves and prohibit slavery in the rest of the Louisiana Purchase which produced raging political debates. If Missouri went either as a slave state or free state, the precarious balance of eleven to eleven states in the senate would be upset. The compromise

Gordon sums up the American economic history in six chapters of his book. He explains that the United States had taken on huge debts following to the American Revolution. In order to pay such debts back, Hamilton created the federal bank and convinced the Congress to issue federal bonds. This way the federal government could make interest payments on time, build credit and keep the inflation from rising. Hamilton thought that the national debt could be a useful tool in order to create capital for the new industries. In his book, Gordon also recalls that soon after the 1812 War the seventh President of the United States cleared the government debts thanks to surpluses deriving from high tariffs. Then, he explains that the introduction of the first Federal income tax in America during the Civil Was turned out to be crucial in order to investigate how to distribute the tax

Not all presidents were able to sustain the economy that Washington built. Rather than maintaining its success they damaged it. Beginning with Monroe’s presidency in 1816 the economy began to be based on Henry Clay’s American System. Similar to Hamilton’s Financial Plan, Clay’s system consisted of three parts including: “(1) Protective tariffs, (2) a national bank, and (3) internal improvements” (Newman and Schmalbach.152). While Monroe took the idea of a national bank and protective tariffs he did not provide funds for internal improvements. The first protective tariff of 1819 was passed in the beginning of Monroe’s presidency for the purpose of protecting new industries by placing high

This amendment is known as the Tallmadge Amendment. This bill stated that no slaves could be brought into the state of Missouri and slaves born there would be freed at the age of 25. Southerners were bothered by this suggested law because they felt that it would threaten the sectional balance we had in our country and that Congress would attempt to abolish slavery in southern states. As a solution to this growing dilemma, Henry Clay proposed the Missouri compromise in 1820. This compromise, commonly known as “The Great Compromise”, stated three important things. One being that Missouri was to be admitted as a slaveholding state. Second, Maine was to be admitted as a free state, in order to keep the balance. Third, in the rest of the Louisiana territory north of latitude 36º 30' , slavery was prohibited. Although this compromise was accepted by both sides of the country, it upset many Northerners, thus increasing growing sectionalism in our nation. Nevertheless, the “Era of Good feelings” was badly damaged by Americans’ torn feelings of sectional controversy over Missouri (North vs. South).

Later, many questions arose regarding if the newly acquired territory should allow slavery. In the attempt to solve this, Henry Clay led the Missouri Compromise which admitted Missouri as a slave state, and Maine as a free state creating a balance in Congress. This led to the belief that later in the future slavery be prohibited north of the southern border of Missouri in the remaining of the Louisiana Purchase. The issue of slavery continued to be an issue as the nation expanded because the Missouri Compromise didn’t apply to new territories that were not part of the Louisiana Purchase. By the new land acquired, the Southern economy increased because of the “Cotton King”, which also increased the labor in order to maintain the newly achieved economy. One the other hand, the North believed that the expansion of slavery was very small because they didn’t depend on slavery for their economic survival. The North relied on on textile industry on southern crops was increased by the creation of the cotton gin. Many Americans kept migrating to the west despite after the Missouri Compromise was adopted. Many would cross to the Oregon Territory, which belonged to the British and many more settled in Mexican territory