Period 4 Ch 10

Question 1

Panic of 1819

Answer 1

The Panic of 1819 is considered to be the first major economic depression in United States history. The Panic of 1819 was caused in part by land speculation and in part by the Second Bank of the United States’ contractionary monetary policy.

Question 2

The Land Ordinance of 1800

Answer 2

liberalized by another ordinance in 1804, led risky farm purchases, land speculators extended credit to poor credit risks, banks provided overly liberal credit.

Question 3

The Missouri Compromise

Answer 3

The Missouri Compromise sought to help both North + South by Missouri and Maine (one slave, one free) could become states and no slavery would be allowed above 36’ 30” in the Louisiana Purchase except in Missouri.

Question 4

Election of 1824

Answer 4

Election of 1824 reflected sectional divisions since Clay, Adams, and Crawford were each supported by different regions and Jackson, alone, attracted support in all regions. House of Representatives determined election and Jackson won popular vote but did not win majority in the Electoral College and the House chose Adams after Clay threw his support to him. Outcome ended the single party system and Adams made Clay secretary of state and Jackson withdrew from the Republican party, charging that Adams had won corruptly.