THE ERA OF GOOD FEELINGS The Presidency of James Monroe Era of Good Feelings Elected in 1816, effectively unopposed His term in office marks the beginning of the “Era of Good Feelings” Nationalism (love for one’s country) was sweeping the nation Victory in War of 1812 New generation of war heroes American System American System Henry Clay’s Theory on Economic Growth Industrial North – Agricultural South/West North–Produce Industrial Goods Provide Market for Agriculture South – Produce Agriculture Provide Market for Industry Necessary Measure for the American System to work Protective tariffs Improved transportation National banking system Protective Tariffs Protective Tariff: tax on goods imported into a country; designed to make imports more expensive than domestic goods Tariff Act of 1816: Congress adopted a mild protective tariff Tariff is strengthened in 1828 Improved transportation Building of the National Road (today it is I-40) Construction of canals begins $ comes from protective tariff Second Bank of the U.S. The charter of the First Bank of the US expired in 1811 and was not renewed State banks took over the business of banking and printing money which makes trade difficult 1816: Congress chartered the Second Bank of the US with 25 branches Issues its own paper money which is accepted throughout the US Starts a two year business boom Foreign Affairs Relations with Britain Rush-Bagot Agreement (1817) Britain/Canada and US agree to disarm the Great Lakes Treaty of 1818 (1) joint occupation of the Oregon Territory for 10 years (2) north Boundary of Louisiana Purchase is 49th Parallel Foreign Relations Relations with Spain (1817-Florida belonged to Spain) United States sent Andrew Jackson and a small army down to the Georgia-Florida border to stop the Indian & outlaw raids Jackson is NOT supposed to attack the Spanish. So, he invaded Florida Adams-Onis Treaty (1819) Spain gave up Florida and Spanish claims to the Oregon Territory US took $5 million in Spanish debt and agreed to stay out of Texas Missouri Compromise-1820 Missouri territory is divided in half North of the 36*30’ latitude slavery was banned (except Missouri) and south of the line slavery was legal Establishes a precedent that lasts until the Civil War: states would enter into the Union in pairs-one slave and one free Missouri Compromise-1820 Monroe Doctrine 1823 Monroe warns all European powers against interfering with affairs in the Western Hemisphere They are not to attempt to colonize or overthrow any newly formed nation US would protect the Western Hemisphere US would stay out of European affairs Assignment Today Work on the maps in your packet Economic Growth guided reading Test will be Wednesday, Nov. 11 (A Day); Thursday, Nov. 12 (B Day) Examples Examples