01:512:104 Lecture Notes - Lecture 10: Monroe Doctrine, Missouri Compromise, Free Banking
13 May 2018
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Chapter 10 - Nationalism, Expansion, and the Market
Economy, 1816-1845
I. Introduction
Early in the nineteenth century, Americans in increasing numbers moved
inland from the seaboard. Developments in transportation, agriculture,
manufacturing, and finance helped lead to a nationwide market economy.
II. Postwar Nationalism
A. Nationalist Program
Congressional leadership called for government stimulation of industry,
internal improvements, a national bank, and a protective tariff.
B. James Monroe
Monroe was elected president in 1816 and continued Madison’s domestic
program.
C. McCulloch v. Maryland
John Marshall reaffirmed the power of the national government in this case
regarding the Second Bank of the United States.
D. John Quincy Adams as Secretary of State
John Quincy Adams served brilliantly as Secretary of State.
E. Adams-Onís Treaty
The Adams- Onís Treaty called for Spain to cede Florida to the United States
and defined the southwestern border of the Louisiana Territory. America
assumed $5 million worth of claims against Spain and gave up claim to Texas.
F. Independent States in Latin America
Between 1808 and 1822 a number of states in Latin America declared their
independence from Spain. The U.S. feared that France would aid Spain by
attempting to return these states to Spanish rule.
G. Monroe Doctrine
The Monroe Doctrine demanded noncolonization in the hemisphere by
European nations, nonintervention in the affairs of New World nations, and
pledged noninterference by the United States in European affairs.
H. The Slavery Issue
The slavery question resurfaced in 1819 when Missouri petitioned to enter the
Union as a slave state, a more that would have pushed slavery farther
northward and tilted the political balance in the Senate toward the slave
states.
I. Missouri Compromise
Henry Clay proposed the compromise that let Maine enter the Union as a free
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find more resources at oneclass.com
state and Missouri enter as a slave state. The agreement prohibited slavery
in the rest of the Louisiana Territory north of 36º 30’.
III. The Market Economy and Government’s Economic Role
A. Definition of a Market Economy
The advent of the market economy, which encouraged specialization, meant
that people could sell or purchase goods on the open market and then use the
cash they received to purchase goods produced by other people.
B. Boom-and-Bust Cycles
Economic growth proved uneven. Periods of contraction and deflation often
countered times of prosperity.
C. Cause of Boom-and-Bust Cycles
The new market economy was a direct cause of boom-and-bust cycles.
D. Government Economic Role
Despite a belief in limited government, the federal government played an
active role in technological and industrial growth.
E. Legal Foundations of Commerce
Several Supreme Court cases provided a legal foundation for commerce and
the market economy.
F. Corporations
Federal and state courts encouraged the proliferation of corporations by
granting limited liability to corporation owners.
G. Charles River Bridge Case
The Court’s ruling in this case promoted individual enterprise and competition.
H. State’s Support for the Economy
State governments surpassed the federal government in promoting the
economy. Largely as a result of these efforts, the nation experienced uneven
but sustained economic growth from the end of the War of 1812 to mid-
century.
IV. Transportation Links
A. East-West Links
Investments in roads, canals, and railroads caused northeastern seaboard
cities to become the center of American commerce. New arteries opened
east-west travel in the 1820s.
B. Canals
The success of the Erie Canal sparked an explosion of canal construction. By
1840, more than 3,000 miles of canals had been built. High construction costs
and a constricting economy caused an end to the canal era in the 1850s.
C. Railroads
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find more resources at oneclass.com
Document Summary
Chapter 10 - nationalism, expansion, and the market. Early in the nineteenth century, americans in increasing numbers moved inland from the seaboard. Developments in transportation, agriculture, manufacturing, and finance helped lead to a nationwide market economy. Congressional leadership called for government stimulation of industry, internal improvements, a national bank, and a protective tariff: james monroe. Monroe was elected president in 1816 and continued madison"s domestic program: mcculloch v. maryland. John marshall reaffirmed the power of the national government in this case regarding the second bank of the united states: john quincy adams as secretary of state. John quincy adams served brilliantly as secretary of state: adams-on s treaty. The adams- on s treaty called for spain to cede florida to the united states and defined the southwestern border of the louisiana territory. America assumed million worth of claims against spain and gave up claim to texas: independent states in latin america.
