Chapter 10 Flashcards
Second bank of the United States
In 1816, the second bus was established in order to being stability to the national economy, serve as the depository for national funds, and provide the government with the means of floating loans and transferring money across the country.
John C. Calhoun
He served in both the House of Representatives and the senate for SC before becoming secretary of war under president Monroe and then JQA’s vp. He introduced the bill for the second national bank to congress and led the minority of southerners who voted for the tariff of 1816. However, he later chose to oppose tariffs. During his time as secretary of war under President Monroe, he authorized the use of federal troops against the Seminoles who were attaching settlers. As JQA’a vp, he supported a new tariffs bill to win presidential candidate Andrew Jackson additional support. Jackson won the election, but the new tariffs bill passed and Calhoun had to explain why he had changed his opinion on tariffs.
Henry Clay
In the first half of the 19th century, he was the foremost spokesman for the American system. As speaker of the house in the 1820’s, he promoted economic nationalism, “market revolution”, and the rapid development of western stat s and territories. He formulated the “second” Missouri compromise. In the deadlocked presidential election of 1824, the House of Representatives decided the election. Clay supported JQA, who won the presidency and appointed Clay to Secretary of State. Andrew Jackson claimed that Clay had entered into a “corrupt bargain” with Adams for his own selfish gains.
Daniel Webster
As a representative from New Hampshire, he led the new federalists in opposition to the moving of the second bus from Boston to Philadelphia. Later, he served as representative and senator for Massachusetts and emerged as a champion of a stronger national government. He also switched from opposing to supporting tariffs because New England had built up its manufactures with the understanding tariffs would protect them from foreign competition.
Tariff of 1816
First true protective tariff, intended strictly to protect American goods against foreign competition
American System
Program of internal improvements and protective tariffs promoted by speaker of the house Henry Clay in his presidential campaign of 1824; his proposals formed the core of Whig ideology in the 1830’s and 1840’s
James Monroe
He served as Secretary of State and war under president Madison and elected president. As the later, he signed the transcontinental treaty with Spain which gave the US Florida and expanded the Louisiana territory’s western border to the pacific coast. In 1823 he established the Monroe doctrine.
Oregon Country
The convention of 1818 between Britain and the US established the Oregon country as being west of the crest of the Rocky Mountains and the two countries were to jointly occupy it. In 1824, the US and Russia signed a territorial claim in North American. A similar agreement between Britain and Russian finally gave he Oregon country clearly defined borders, but it remained under joint British and American control.
Panic of 1819
Financial collapse brought on by sharply falling cotton prices, declining demand for American exports, and reckless western land speculation.
Missouri compromise
Deal proposed by KY senator Clay to resolve the slave/ free imbalance in congress that would result from Missouri’s admission as a slave state; in the compromise of March 20, 1820, marines admission as a free state offset Missouri, and slavery was prohibited in the remainder of the Louisiana territory north of the southern border of Missouri.
39^o 30’
According to the Missouri compromise, any part of the Louisiana purchase north of this line (Missourians southern border) was to be excluded from slavery.
Monroe doctrine
President James Monroe’s declaration to congress on December 2, 1823, that the American continents would be thence forth closed to colonization but that the United States would honor existing colonies of European nations.
Corrupt bargain
A vote in the House of Representatives decided the deadlocked presidential election of 1824 in favor of JQA, who speaker of the house Clay had supported. Afterward, Adams appointed Clay Secretary of State. Andre Jackson charged Clay with having made a corrupt bargain with Adams that gave Adams the presidency and Clay his place in his administration. There was no evidence of such a deal, but it was widely believed.
John Quincy Adams
As Secretary of State under president Monroe, he negotiated agreements to define the boundaries of Oregon country and the transcontinental treaty. He urged president Monroe to issue the Monroe doctrine, which incorporated Adams’s views. As president, adams envisions an expanded federal government and a broader use of federal powers.
