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- -urged the federal govt. to encourage enterprise w/ roads, canals, and a nation bank.
- -future of colony lay in commerce and trade
- -new england objected to projects b/c espenses and threatened control
economic panic of 1819 (recession)
- BUS had +20 branches and competed w/ state banks
- BUS had loose lending requirements
- BUS only took gold and silver as payments from state banks
- state banks fail, southerns / westenrs blame BUS
causes of economic panic of 1819
- inflation after 1812 war
- trade stopped, latin amer. became competion
- 1818 cotton prices drop b/c overproduction
- congress tightens BUS lending,contraction of credit
- over speculation of frontier land
- petioned to become a state in 1817
- would upset balance
- coulnt enter until 1821 b/c maine entered as free state in 1820
- compromise didnt allow slavery north of 36 30 in lousiana territory
war of 1812 increased nationalism how?
- american painters amer. land
- building a nice national capital
- expaned army
the era of good feelings is decribed as...
being marked by deep divisions over economical and sectional issues
john quincy adams presidency...
- 1824 elected
- 'currupt baragain' when appointed henry clay as sec. of state
- least succesful president