Monday March 20, 2017 Copy the learning targets and homework assignment. Warm up: What caused the Industrial Revolution to grow so rapidly in America? What is required to make industry grow?

MONEY! Government Begins to Promote Industry

James Monroe Republican, served as president from 1817- 1825 Administration nicknamed “Era of Good Feelings” for national unity and lack of political party fights Remember…What did Republicans originally support? Strong state govts, farming, and strict interpretation.

After the War of 1812 Nation rapidly growing in size and spirit But the American economy faced several problems: Lack of national bank to regulate money Foreign competition Flood of British goods Competition with Great Britain…they were almost 50 years ahead of our industry, factories and machines were paid off.

“Era of Good Feelings” Federal government takes a more active role in building the national economy Henry Clay introduces the American System This idea CONTRADICTS the beliefs of the original Republicans! Why do they do this?! To better the country!!!!

The American System America’s future depended on capitalism Clay’s vision was different from the normal capitalist view of private ownership, believed federal government should play a role. Established a Second National Bank Passed a protective tariff to help New England businesses compete with British competition Build roads, bridges, and canals with money from tariffs Tariff = Tax

Protective Tariffs Which regions would SUPPORT a tariff? Which regions would HATE a tariff? Why?