Ch8 Nationalism And Economic Development Flashcards
Era of good feelings
- federalists gone
- nationalism
- BUT many debates over tariffs, national bank, internal improvements, etc.
Cultural nationalism
- prospects of nation expanding westward
- little interest in European conflict
- PATRIOTISM –> paintings of heroes of revolution
Tariff 1816
- B4 1812, Congress levied low tariffs on imports (raise gov revenue)
- DURING War, New factories to supply the goods originally from British
- peacetime, afraid that British dump all goods into America, Congress acts:
TO PROTECT US MANUFACTURERS FRO COMPETITION
Congress raised tariffs
1st protective tariff in US history
Opposition to Tariff of 1816
Oppose: New England!!
Why: bc not a lot of manufacturing at the time
~support: S + W bc felt necessary for national prosperity
Henry Clay’s American system
1. Protective tariffs • manufacturing • raise revenue to build transportation system • federally constructed roads + canals --> tariff of 1816
- ntnl bank
• provide ntnl currency
–> Second bank of the US (first bank expired 1811) - Internal improvements
• growth in W + S
–> ***problem
Prob with internal improvements
Madison + Monroe:
Const. did NOT provide for spending of federal money on roads + canals
- Munro consistently vetoed Congress acts for providing funds for building
- ->individ States had to make own internal improvements
Panic of 1819
Why?
Fault: Second Bank of US
- tightened credit in effort to control inflation
- *speculation
Panic of 1819 impact
- State banks closed
- unemployment, bankruptcies, imprisonment for debt increased
AFFECTED WEST MOST
- Western ppl speculated land
- Bank of US foreclosed large amts of western farmland
- economic crisis = strong opposition to debtors prison + ntnl bank
Significance of
Marbury V Madison
1803
- judicial review
- ruled federal law unconstitutional
Significance of
Fletcher the Peck
1810
-1st time declared state law = unconstitutional + invalid
Significance of
McCulloch v Maryland
1819
-MA tax 2nd Bank
-State could NOT tax federal institution
-fed laws> state laws
“Power to tax is the power to destroy”
-Const. gave fed gov implied power to create ntnl bank
Significance of
Gibbons V Ogden
1821
NY Monopoly to steamboat company = unconstitutional
Established federal gov’s control of interstate commerce
Reasons for westward movement
-American lands gained by victories of Jackson + William Henry Harrison
- economic
(a) difficulties in north east = people want new future in West
(b) S – new land for tobacco - frontier easy to reach with building of roads and canals etc.
- immigrants attracted to cheap land in Great Lakes region
Western objectives
- cheap money/easy credit = from state banks, NOT bank of US
- low prices for land sold by fed gov
- improved transportation
*** slavery still issue
Missouri compromise
1820
•Talmage amendment
–> defeated bc Southerners saw as effort to abolish slavery
• Clay’s proposals
-slavery allowed north of latitude_____
PASSED