The Era of Good Feelings Marked by spirit of nationalism, optimism, & goodwill Republicans dominated politics “Good feelings” actually a misnomer Debates over tariffs, the national bank, internal improvements, & public land sales Slavery Republican party would soon split Era of Good Feelings • President James Monroe • Easily won 1816 & 1820 elections over Federalist opponents • Notable events: • Acquisition of Florida • Missouri Compromise • Monroe Doctrine • Cultural Nationalism • American writers & artists • Gilbert Stuart, Charles Willson Peale, & John Trumball • Parson Mason Weems, Noah Webster, Era of Good Feelings • Economic Nationalism • Tariff of 1816 • Henry Clay’s American System − Protective tariffs − National bank − Internal improvements • Tariff & bank passed • Monroe thought internal improvements unconstitutional Panic of 1819 First major financial panic since Constitution Caused when 2nd Bank of the U.S. tightened credit to control inflation – State banks closed – Value of money deflated – Increased unemployment, bankruptcies, and imprisonment for debt West hurt the worst due to land speculation – Bank foreclosures – Nationalist beliefs were shaken – Westerners called for land reform & opposition to national bank Political Parties • Federalists – Failed to adapt to changing needs of nation • Opposed War of 1812 • Hartford Convention • Soundly defeated in Election of 1816 – No candidate in Election of 1820 Political Parties • Republican Party – Party began dividing due to changing times – Some members clung to old ideals • Limited government • Strict interpretation – Most Republicans adopted former Federalist programs • Large army & navy • Second National Bank – Some Republicans flip-flopped on issues • John C. Calhoun from War Hawk nationalist to states’ rights advocate The Marshall Court John Marshall Marbury v. Madison (1803) Appointed in 1800 by John Adams Consistently favored strong central government & rights of property Established principal of judicial review Fletcher v. Peck (1810) States cannot pass legislation invalidating contracts First time state law ruled unconstitutional The Marshall Court Martin v. Hunter’s Lease (1816) Dartmouth College v. Woodward (1819) Established that Supreme Court had jurisdiction over state courts involving constitutional rights Contract for a private corporation cannot be altered by a state McCulloch v. Maryland (1819) Federal government had implied power to create national bank States cannot tax federal institutions Federal laws supreme over state laws The Marshall Court Cohens v. Virginia (1821) Supreme Court can review a state court’s decision involving any of the powers of the federal government Gibbons v. Ogden (1821) Established the federal government’s broad control of interstate commerce