New Nationalism Madison, Monroe, J.Q. Adams
War Changes Madison 13 yrs of Republican programs left key institutions weakened –No army –Banking system a mess –Gov’t bankrupt –Primitive transportation system –Young manufacturing sector
American System Improve nation’s financial, transportation, & manufacturing sectors Active federal govt 1815 Madison speech (changing ideas) –New Nat. Bank –Protective tariff –“Internal Improvements” (roads & canals) Calhoun & Clay – roads unite country Ok b/c LA purchase ok
1816 Tariff passed nd Bank of US created 1817 Madison internal improvements controversy –Vetoed bill –Dangerous idea w/o amendment –Protect south
Second Bank of US Private, for profit corp. Issued paper $, collect taxes, paid debts Make sure paper issued by local banks had real value. –Call in gold of silver for local paper –If bank can’t produce they close
McCulloch v. Maryland (1819) MD tried to States can’t tax or destroy agency created by national. govt. Marshall declares bank constitutional –“necessary & proper” –Implied powers of congress –“general welfare”
James Monroe
“Era of Good Feeling” 1816 Monroe runs as a “New Nationalist” Federalist Party destroyed 1 party should equal political harmony
Jackson Invades Florida 1 st Seminole War 1817 Acquire FL $5M
Monroe Doctrine 1823 Warn Russia & Spain to stay out. No new colonies Added to by future Pres. Cornerstone of Foreign Policy today
1 st Industrial Revolution Result of improvements in transportation and technology. Transportation –Toll roads –Canals –Steamboats NE textile industry 20% non farm workers
Land Boom 1 st speculative boom Result of rising cotton prices & cheap credit People felt the demand would never end Speculation –160 acre blocks $320 only 20% down –Resell higher $150 acre –$65 investment = $24,000 profit
Panic of st real financial panic Post-war speculative bubble burst –European markets for cotton & grain –Western land boom –Easy credit (local & Bank) Bankruptcy, unemployment Popular distrust of banks Debtors vs. Bank
Public Land Act 1820 Attempted to fix the “land bubble” problem Abolished the use of buying land on credit Homestead prices were also reduced by 60%. Expected business to improve soon
1820 Monroe Reelected Public felt economy would improve Nationalist policies popular –American pride & purpose Federalists didn’t run anyone New paradigm firmly in place
1820 MO Controversy 1 st important sectional dispute Sectionalism ME would give north political edge (12-11) North wants to block MO (slave) –Congressmen Robert Tallmadge (NY) proposal limiting slavery – passes in House but stalls in Senate South threatens secession
The Missouri Compromise 1820 Henry Clay brokers compromise –MO slave & no slavery above 36/30 th latitude –ME free state Sectional problems on hold for generation
Republicans Start to Divide Economy gets worse –Republicans don’t know what to do –1 st period of hard times Republicans lose unity Disputes –Tariffs, banks, internal improvements Party splitting
Election of 1824 Sectionalism –4 candidates (Jackson, Adams, Clay, Crawford) –Interests –Economic policies Andrew Jackson 41% pop. vote John Q. Adams 31% pop. vote –Clay makes House of Reps vote for him –Clay chosen as Sec. of State
John Quincy Adams
Adams Minority president Clay Sec. of State Calhoun Sec. of War “National Republicans
Nationalism of Adams American System World commercial power Activist national state –Called for legislation on Agriculture, commerce, manufacturing Mechanical & elegant arts National university & observatory Naval academy Metric system
Achievements Acceleration of internal improvements Steep tariff increase –“Tariff of Abominations”- Lost South Went too far for many core Republicans
Jackson “corrupt bargain” Starts campaigning immediately Appeal to the people Democrat Party (new) Expand suffrage % pop. vote (record for 75 yrs)
Summary 13 yrs Programs look like Federalist Not a full-scale shift –Until Adams they didn’t lose core beliefs –States rights –Against fed. internal improvements –Limited govt –Agrarian policies