Unit 3 terms Flashcards
Established in 1816 after the first national bank’s charter expired; it stabilized the economy by creating a sound national currency, by making loans to farmers, small manufacturers, and entrepreneurs, and by regulating the ability of state banks to issue their own paper currency.
Second Bank of the United States (B.U.S)
A cluster of taxes on imports passed by Congress to protect America’s emerging iron and textile industries from British competition
Tariff of 1816
Construction of roads, bridges, roads, canals, harbors, and other infrastructure projects intended to facilitate the flow of goods and people
Internal Improvements
Supreme court ruling that enlarged the definition of contract to put corporations beyond the reach of the states that chartered them
Dartmouth College v. Woodward (1819)
Supreme Court ruling that prohibited states from taxing the Bank of the United States
McCulloch v. Maryland (1819)
Supreme Court case that gave the federal government the power to regulate interstate commerce
Gibbons v. Ogden (1824)
economic plan championed by Henry Clay of Kentucky that called for federal tariffs on imports, a strong national bank, and federally financed internal improvements—roads, bridges, canals—all intended to strengthen the national economy and end American dependence on Great Britain
American System
A financial panic that began a three-year-long economic crisis triggered by a reduced demand of American imports, declining land values, and reckless practices by local and state banks.
Panic of 1819
Legislative decision to admit Missouri as a slave state and abolish slavery in the area west of the Mississippi River and north of the parallel 36°30.
Missouri Compromise (1820)
Treaty between Spain and the United States that clarified the boundaries of the Louisiana Purchase and arranged the transfer of Florida to the United States in exchange for cash.
Transcontinental Treaty (1819) (Adams-On’s Treaty)
U.S. foreign policy that barred further colonization in the Western Hemisphere by European powers and pledged that there would be no American interference with any existing European colonies
Monroe Doctrine (1823)
Scandal in which presidential candidate and Speaker of the House Henry Clay secured John Quincy Adams’s victory over Andrew Jackson in the 1824 election, supposedly in exchange for Clay being named secretary of state.
corrupt bargain
Bitter presidential contest between Democrat Andrew Jackson and National Republican John Quincy Adams (running for reelection), resulting in Jackson’s victory.
election campaign of 1828
Law permitting the forced relocation of Indians to federal lands west of the Mississippi River in exchange for the land they occupied in the East and South
Indian Removal Act (1830)
The Cherokees’ 800-mile journey from the southern Appalachians to Indian Territory (in present-day Oklahoma); 4,000 people died along the way.
Trail of Tears (1832–1840)
Political struggle in the early 1830s between President Jackson and financier Nicholas Biddle over the renewing of the Second Bank’s charter.
Bank War
Tax on imported goods, including British cloth and clothing, that strengthened New England textile companies but hurt southern consumers, who experienced a decrease in British demand for raw cotton grown in the South.
Tariff of Abominations (1828)
The right claimed by some states to veto a federal law deemed unconstitutional.
nullification
Legislation, sparked by the Nullification Crisis in South Carolina, that authorized the president’s use of the army to compel states to comply with federal law.
Force Bill (1833)