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Era of Good Feelings

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Era of Good Feelings EraEra OfOf GoodGood FeelingsFeelings AA NationalNational PerceptionPerception Fourth of July Celebration in Centre Square John Lewis Krimmel, 1819 EraEra OfOf GoodGood FeelingsFeelings –– POLPOL JamesJames MonroeMonroe (D-R)(D-R) (1817-1825)(1817-1825) EraEra OfOf GoodGood FeelingsFeelings –– POLPOL TheThe MarshallMarshall CourtCourt McCulloch v. Maryland (1819) . Bank of the United States constitutional under “necessary and proper” . States could not tax the Bank - Supremacy Clause Gibbons v. Ogden (1824) . Increased federal government’s interstate commerce authority Chief Justice John Marshall EraEra OfOf GoodGood FeelingsFeelings –– POLPOL TheThe GreatGreat TriumvirateTriumvirate WEST Henry Clay of Kentucky NORTH Daniel Webster of Massachusetts SOUTH John C. Calhoun of South Carolina EraEra OfOf GoodGood FeelingsFeelings –– POLPOL MissouriMissouri CompromiseCompromise (1820)(1820) Proposed by Henry Clay Missouri admitted as slave state Maine admitted as free state Establish Latitude 36 30’ Line . North of the line is free . South of the line is slave “Missouri question aroused and filled me with alarm…I have been among the most sanguine in believing that our Union would be of long duration. I now doubt it much.” - Thomas Jefferson, April 13, 1820 Adams-OnisAdams-Onis TreatyTreaty (1819)(1819) EraEra OfOf GoodGood FeelingsFeelings –– WORWOR MonroeMonroe DoctrineDoctrine (1823)(1823) U.S. and Great Britain concerned about European expansion into Americas Authored by John Q. Adams Points . Americas no longer subject to European colonization . Europe must not interfere with sovereignty of independent nations in Western Hemisphere AmericaAmerica’’ss MarketMarket RevolutionRevolution Subsistence farming to market specialization Free enterprise system Capital investment and state charters Development of state and national infrastructure and networks AmericaAmerica’’ss MarketMarket EconomyEconomy –– WXTWXT CumberlandCumberland RoadRoad AmericaAmerica’’ss MarketMarket EconomyEconomy –– WXTWXT ErieErie CanalCanal AmericaAmerica’’ss MarketMarket EconomyEconomy –– WXTWXT TheThe ClermontClermont AmericaAmerica’’ss MarketMarket EconomyEconomy –– WXTWXT RailroadRailroad Faster and durable form of transportation Introduced in late 1820s Only small lines between major regional cities AmericaAmerica’’ss MarketMarket EconomyEconomy –– WXTWXT TelegraphTelegraph SamuelSamuel MorseMorse inin 18441844 InformationInformation becomesbecomes widespreadwidespread EfficientEfficient controlcontrol andand administrationadministration ofof politics,politics, business,business, transportation,transportation, marketsmarkets AmericaAmerica’’ss MarketMarket EconomyEconomy –– WXTWXT AmericaAmerica’’ss MarketMarket EconomyEconomy -- WXTWXT AmericaAmerica’’ss MarketMarket EconomyEconomy –– WXTWXT InnovationsInnovations Steam engine Spinning jenny Interchangeable parts Cotton gin AmericaAmerica’’ss MarketMarket Economy:Economy: AgricultureAgriculture andand CottonCotton Evolution of Cotton . Technological Advancements Eli Whitney’s cotton gin . Improved transportation . King Cotton Impact of Improved Agriculture . Regional specialization . Increased drive for western expansion . Increased demand for slavery AmericaAmerica’’ss MarketMarket Economy:Economy: IndustryIndustry andand thethe FactoryFactory SystemSystem Evolution Of Textiles . Putting-out system . Technological advancements . Samuel Slater . Lowell System Vertically integrated system Boardinghouses Recruitment of young women Impact Of Industrialization . Increased output . Opportunities for unskilled labor . Weakened artisans . Increased urbanization . Increased American competitiveness AmericaAmerica’’ss MarketMarket EconomyEconomy -- WXTWXT TheThe AmericanAmerican SystemSystem Henry Clay’s Plan . Protective tariffs Develop domestic industries Source of federal revenue including infrastructure projects Tariff of 1816 . Rate of 20-25% . National bank Facilitate commerce and credit systems Second Bank of the United States (BUS) (1816) . Infrastructure National roads, canals, internal improvements Improved transportation connected and expanded markets AmericaAmerica’’ss MarketMarket EconomyEconomy –– WXTWXT PanicPanic ofof 18191819 CausesCauses . Western land speculation . War inflation then post-war deflation . BUS pursued contractionary monetary policy AftermathAftermath . First recession of market economy . Northern manufacturers demanded high tariffs . Southern farmers demanded low tariffs . Westerners criticized speculators and bankers UnitedUnited StatesStates c.c. 18241824.
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