James Monroe “The Era of Good Feelings”

Era of Good Feelings Benjamin Russell Feds die = 1 party rule Nationalism J.M. wins all but one electoral vote in 1820 But D.R. Party split by sectionalism –Tariffs, nat. bank, internal improvements, sale of public lands

Panic of 1819 Wild speculation on western lands Overextended investments in manufacturing Collapse of foreign markets Commodity inflation Contraction of credit – resumption of specie payments Mismanagement of 2 nd National Bank State bank failures – in South & West

Resentment against the Bank Thomas Hart Benson of Missouri labels it “The Monster”

Marshall Court Reinforces federal power: –Gibbons v Ogden –McCulloch v Maryland –Dartmouth v Woodward

Missouri Compromise Rapid growth of West Senate even at Missouri (slave) Maine (free) Preserves “Era of G. F.” but causes sectionalism

American System Henry Clay Internal Improvements (Vetoes Intra Improvements) National Economy binding regional interests Cumberland Road (National Road) Erie Canal

Foreign Affairs Canada: –Rush-Bagot Treaty US/GB on Great Lakes –Treaty of 1818 Fishing, Oregon, 49 th Parallel

Foreign Affairs Florida –1817 Jackson pursues raiders –1818 Destroyed Seminole, hung 2 Brits, pushed out Spanish Gov’t Congress outraged (JQ Adams supports) –1819 Spain “sells” for 5 million, US gave up claims on Texas

Monroe Doctrine A foreign policy Why issued? – Countries in Europe (Spain & Russia) were trying to expand to W. Hemisphere Basic Ideas: “Europe Stay Out”

Monroe Doctrine W. Hemisphere closed to further colonization U.S. would not interfere with Europe’s internal affairs U.S, would not interfere with any existing European colony