The Era of Good Feelings

Federal Powers Expansion of Federal Powers Review: What did Marbury v. Madison grant the US? -Implied Powers and National Supremacy confirmed McCulloch v. Maryland Gibbons v. Ogden interstate commerce controlled by National government

Federal Banks National Bank’s charter expired in 1811 State banks thrived – little to no regulation. Notes had uncertain value. Second Bank of America chartered in 1816 Controversial – located in Philadelphia Known for corruption & fraud Pushed through by Clay & Calhoun

“The Era Of Good Feelings” “The Era of Good Feelings” was a period of national pride and political peace associated with James Monroe Jeffersonian Republicans accept Hamilton’s economic plans. Americans expected civil discord between the political parties. Democratic-Republicans working to strengthen National Govt. American economic prosperity following War of 1812

Post-War Tariffs Peace brought a flood of cheap goods from Britain American manufacturers want tariffs to protect American business Tariff of 1816 Made to protect industry from foreign competition, not raise revenue

Foreign Affairs Rush-Bagot Treaty Demilitarization Convention of 1818 Establishes 49 th Parallel Adams-Onis Treaty Florida becomes part of US, 1819

Adams-Onis Treaty John C. Calhoun, Secretary of War, sends Andrew Jackson to pursue Indians at Georgia/Florida border during First Seminole War. Jackson disregards orders, captures 2 Spanish forts, hangs to Spanish officers without trial at Spanish fort. America assumes Spanish debt to US merchants, purchases territory. Sets western border of Louisiana Purchase at Sabine River, Texas Spanish-Mexico

Adams-Onis Treaty

Monroe Doctrine -James Monroe became President in U.S. is still a fragile nation in the world arena -attempts to claim part of the world as our own “neighborhood” -Monroe Doctrine states that Europeans should not interfere with this hemisphere

Monroe Doctrine In Latin America, it is a period of revolution and liberation. Chile, Venezuela, Mexico and Brazil have gained their freedom from Spain and Portugal. The United States recognizes them as legitimate countries. America fears that other foreign countries like France and Britain may now want to control these countries in Latin America.

Monroe Doctrine Warns European nations that they cannot set up colonies or interfere in Latin American problems anymore. The United States will protect North and South America from any European influence. The United States will not involve itself in European affairs militarily or politically. America stays out of European affairs for almost 100 years.

Panic of 1819 Unregulated bank loans Collapse of Cotton prices in English Market Paper money Loans called in at once Marks end of “Era of Good Feelings” Langdon Cleves cleans up practices & puts pressure on state banks.