James Monroe and The Era of Good Feelings The Role of Politics in Sectionalism
James Monroe 1758 1831 Dem.-Republican 5 th President (1817-25) Last President to have participated in the Revolution Former Gov. of VA, Secretary of State, and Secretary of War Southerner, slave owner
The Era of Good Feelings Term used to describe Monroe s presidency Right after War of 1812, Nationalism surged and Americans thought of themselves as Americans first, rather than of their region of the country Collapse of Federalist Party left only 1 major political party, so little political disagreement
Tariff of 1816 British goods had been cut off during War of 1812, but once war was over US market was flooded with cheap British goods US industry had begun to grow during the war, but now was at risk with return of foreign goods Tariff was championed by Henry Clay and John C. Calhoun (West & South!)
Death of the First National Bank Had been established as part of Hamilton s Economic Plan Congress did not renew its charter when it expired in 1811 State and private banks took over, issuing their own currency and over-lending, leading to high inflation US government had to borrow money from these state and private banks to pay for the War of 1812, leaving it deeply in debt after the war
Second National Bank of the US Not overly popular with small farmers because it was aimed at helping Eastern industrialists Despite this, the need for federal regulation of currency prompted Calhoun, Webster, and Clay to force through a bill creating a Second National Bank in 1816
McCulloch v. Maryland 1819 Maryland attempted to tax the Second National Bank Supreme Court ruled that: 1. necessary and proper clause allows US gov t to create a National Bank; 2. the federal government stands above the states and 3. the states can not interfere with federal agencies
Panic of 1819 National Bank offered easy credit, overextended itself by giving more loans than it had money When British banks called in their loans to US banks, The National Bank had to call in its loans, triggering US s first economic depression
The Missouri Compromise Missouri admitted as a slave state, but balanced by admission of Maine as a free state No new slave states allowed north of Missouri s southern border Ends Era of Good Feelings
The Monroe Doctrine US concerned that Spain would try to retake the newly independent nations in Latin America; also worried about Russian expansion in Alaska 1823: Pres. Monroe issued a formal statement of US policy 1. Europe would not be allowed to interfere in the affairs of countries in the Americas 2. No new European colonization would be allowed in Americas 3. US would not interfere in the affairs of countries in the Americas or in Europe
Gibbons v. Ogden 1824 New York had granted a monopoly over all steam boat traffic Supreme Court ruled that Congress alone has the right to regulate interstate and foreign commerce
Election of 1824 4 candidates for president, all were Dem.-Republicans New England supported John Quincy Adams South supported William Crawford West supported Andrew Jackson and Henry Clay Election was so close, it went to the House of Representatives to decide the winner
The Corrupt Bargain Henry Clay (who was Speaker of the House and hated Jackson) threw his support to John Quincy Adams in return for being named Secretary of State Adams became president; Andrew Jackson denounced Clay s deal as a corrupt bargain
Democratic-Republican Party splits Andrew Jackson s supporters became the Democratic Party John Quincy Adams supporters became the National Republican Party End of political unity, return of the two-party system
John Quincy Adams 1767 1848 National Republican 6 th President (1825-29) Son of John Adams Adams objectives: Stronger federal government; Federal construction of transportation infrastructure; Found a national university; Create high tariffs to protect US industry
The American System John Quincy Adams & Henry Clay s plan to tie the nation together 1. Protective tariffs 2. Internal improvements to increase interstate commerce 3. A strong National Bank 4. strongly opposed by the South
South hated the idea of the American System Southerners tended to be strict-constructionists, support states rights over strong central government Saw no Constitutional support for a National Bank or federal construction of infrastructure Tariffs hurt farmers Believed in doctrine of nullification states don t have to enforce laws they interpret as unconstitutional or harmful to the state
Tariff of Abominations Tariff of 1828 Highest tariff in US history Designed to protect US industries from cheaper English imports Badly hurt South by raising prices of manufactured goods and by causing British to have less capital with which to buy Southern cotton