History Ch. 10 Section 1
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What Republican won a landslide victory over the Federalists after the war of 1812?
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James Monroe
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What happened to the Federalist Party after the War of 1812?
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It began to lose power and eventually disappeared. For a period of time there was only 1 party.
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How did the local newspaper describe the 2 terms Monroe was in office.
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The Era of Good Feelings
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Henry Clay was from what state?
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Kentucky
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What did Henry Clay push for?
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Better roads and canals (infrastructure) to transport goods from one region to another; improve trade between the west & east
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John C. Calhoun was from what state?
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South Carolina
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What did John C. Calhoun push for?
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1. State's rights 2. Opposed tariffs (Taxes) because it raised the price of goods southerners bought.
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Daniel Webster was from what state?
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Massachusetts
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What did Webster push for?
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Tariffs (Taxes on imports) because they allowed New England factories to compete against European manufacturers
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Why did the first American bank fail?
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They gave out too many loans and issued too much money. This led to rising prices.
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What was different about the Second Bank of the US?
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It controlled its loans and the money supply.
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How were the 2 banks similar (2)?
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1. Both privately owned 2. Had a charter (20 years)
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How were the British able to produce the products cheaper?
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They were more developed factories and more customers than the US.
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What is the vocab word for selling goods in another country below market prices
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Dumping
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What is the vocab word for a legal document giving certain rights to a person or company
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charter For example, the first and second US Bank had a 20 year charter.
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How did Congress respond to angry factory owners who lost their businesses because of dumping?
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Passed the Tariff of 1816 - Put a tax on most goods so New England factories could compete.
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According to Henry Clay how would Clay's American System benefit the economy?
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It proposed high tariffs and a program to build the infrastructure (canals, roads, bridges); the tariffs would provide the $$ to build canals, roads, bridges
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Did Clay's American System become government policy?
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No, both presidents refused to support and southerners opposed tariffs.
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Who was the Chief Justice (Federalist) that issued important rulings?
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John Marshall
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What did the Tariff of 1816 do?
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Put a tax on foreign textiles, iron, leather, paper and other products to allow American products to compete with European imports.
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What did the ruling in McCulloch vs. Maryland do?
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It strengthened the power of the federal government; states had no power to interfere with federal institution (i.e. state can't tax the national bank)
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What is the vocab word for an agreement between 2 or more parties that can be enforced by law.
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Contract
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What is the vocab word for the economic system in which privately owned businesses compete in a free market?
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capitalism
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What did the ruling in Dartmouth College vs. Woodward do?
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It protected private businesses by not allowing the state to change a business' private contract or charter.
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According to the Constitution who can regulate interstate commerce?
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Congress (federal government)
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What did the ruling in Gibbons vs. Ogden do?
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It ruled that New York state couldn't give a steamboat company a monopoly to carry passengers on the Hudson River because stops were in New York and New Jersey.
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What is the vocab word for trade between 2 or more states?
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interstate commerce
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How did the Supreme Court ruling in Dartmouth College v. Woodward support economic growth?
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It supported capitalism, where privately owned companies can compete in a free market (without government controls)
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What did the Supreme Court decisions in McCulloch v. Maryland and Gibbons v. Ogden have in common?
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In both cases, the Supreme Court strengthened the federal government and weakened the power of the states
