1. Era of Good Feelings: Monroe’s presidency marked by nationalism, optimism, and goodwill
Republicans dominating politics in the North, South, and West
During this era there were heated debates over tariffs, the national bank, internal improvements, and public land sales
1816 to the Panic of 1819
2. Sectionalist: tension between North and South over slavery
3. James Monroe: prominent member of Republican party
Served in high-level diplomatic roles as President Jefferson’s minister to Great Britain
Madison’s secretary of state
Caused Federalist party to fail after defeating Federalist opponent in presidential election
Supported nationalism of American people
Eight-year presidency is commonly known for acquisition of Florida, the Missouri Compromise, and the Monroe Doctrine
4. Cultural Nationalism: patriotic themes infusing in every aspect of American society
5. Economic Nationalism: internal improvements and protection for U.S. industry from European competition
Running parallel with cultural nationalism was a political movement to support the growth of the nations economy
6. Tariff of 1816: first protective tariff to protect from British competition
Congress raised the tariff rates on certain goods for the express purpose of protecting U.S. manufacturers from ruin
American manufacturers feared that British goods would be dumped on American markets and take away much of their business
7. Protective Tariffs: tax to protect against European competition
8. Henry Clay’s American System: a method to help advance the nations economic growth called the America System
Composed of three parts:
1. Protective tariffs
2. A national bank
3. Internal improvements
9. Second Bank of the United States: first Bank of America expired and second Bank of America was created for a stronger national bank
10. Panic of 1819: first major financial problem since the Constitution was ratified
Largely the fault of the Second Bank of