APUSH AMSCO Main points of Unit 4 (4.3 and 4.4) Study Guide

APUSH AMSCO Main points of Unit 4 (4.3 and 4.4) Study Guide Learning Objective (4.3) - Answer️️ -Explain how different regional interests affected debates about the role of the federal government in the early republic The Election of James Monroe and the Era of Good Feelings - Answer️️ -The Era of Good Feelings is the time period after the War of 1812 and a spirit of nationalism, optimism, and goodwill. The victory of James Monroe, a demo-repub, in the presidential election of 1816 was the end of the Federalist party. Despite the name of this period, there were also conflicts during this time. There were debates over tariffs, the national bank, internal improvements, and public land sales. Tensions over slavery were increasing, and even a sense of unity among the Demo-Repubs seemed illusionary due to the party's split just years later. In reality, this era spans from 1816 up until the Panic of 1819. Tariff of 1816 - Answer️️ -Subsidizing the building of roads and canals along with protecting budding US industries from European competition were goals of the political movement to support the national economy. In this period of peace after the war, the government feared that British goods would be sent to America and hurt American businesses due to the low tariffs that were levied for the War of 1812. They raised tariffs to protect US manufacturers from the competition. This was the tariff of 1816 and was the first of many protective tariffs in the US ©SOPHIABENNETT 2024/2025 ACADEMIC YEAR 7:59 PM Page | 2 Henry Clay's American System and the Second Bank of the United States - Answer️️ - Henry Clay had an idea for economic growth that he called the American system. His plan consisted of protective tariffs, a national bank, and internal improvements. Tariffs would promote internal improvements (roads and canals), the bank would keep the currency flowing. The Second Bank of America, Hamilton's brainchild, would be chartered in 1816 and Congress were already on their way to passing protective tariffs. However, Monroe and Madison opposed spending federal money on roads and canals because there was nothing saying that he could do that in the constitution. Monroe vetoed many bills for internal improvements and most states were left to make internal improvements on their own. The Panic of 1819 - Answer️️ -Economic panic caused by the Second Bank tightening credit to control inflation and a decline of European demand for American goods. This caused a lot of unemployment, imprisonment for debt, and bankruptcies. Many people's nationalistic beliefs were shaken and it changed the political outlook of many voters. Westerns, who were hit the hardest by this crisis, called for land refo