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

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Once the completion of the War of 1812 took place, the federal government strive to gain many policies to build up the national economy. The Second Bank of the US was created in 1816, after the first national bank’s charter had lapsed. It helped level the economy by assisting with creating currency that worked nationally. The BUS helped create loans for farmers, small manufacturers, and regulation of state banks to be able to provide their own currency. Also during the time of 1816, Congress ended up creating the Tariff of 1816, which ended up inputting taxes on assorted imported goods, to help assist with safeguarding America’s iron and textile from the competition of the British. When Monroe, Adams, and Madison, all came together, they advocated for a dynamic economic role for the federal government, which included, the creation of a nation bank, tariff to be able to protect Americans, and federal funded internal improvements, which were the construction of canals and roads to assist with the flow of goods and people. Within …show more content…

During James Monroe’s time into office, there were two major events that ended up taking place, which were the Panic of 1819 and the Missouri Compromise if 1820. Cotton ended up becoming a major force within the South and ended up assisting with the talks of the expansion of slavery, which ended up going West with southern farmers. The national economy including southern farmer’s suffered a loss with the drop in prices for cotton within 1819. The Missouri Comprise in 1820, assisted with making the decision to admit Missouri as a slave state. This comprise, had a clause which did not allow any type of slavery within the area that was West of the Mississippi River. Even though this decision was made, it caused a lot of Sectionalism ruckus within the president’s

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