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American History Study Guide Exam 2

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HIST 2055
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American History Study Guide Exam 2IDs1McCulloch v Marylanda case between the Maryland state bank and the ndBaltimore Branch of the 2 Bank of the US under President McCulloch In this case the state of Maryland attempted to overturn or interfere with the execution of the federal government by passing a tax on the profits to of the national branch bank of Baltimore to downsize their profit Marshall ruled that no state government can interfere with rulings of the national government see above Important because it established these two principles 1The Constitution grants to Congress implied powers for implementing the Constitutions express powers in order to create a functional national government2 State action may not impede valid constitutional exercises of power by the Federalgovernment1Missouri Compromisecompromise created to settle conflict over whether the state of Missouri would enter the Union as a free state or a slave state Missouri wanted to enter as a slave state The North was opposed to this idea and took it as a front for Missouri to do this however the South was happy It matters because in the Senate there is already a balance 5050 between slave states legality of slavery and Free states slavery prohibited Raised the issue of sectional balance because depending on if it were free or slave it would give one faction power in congress Also significant because under this statehood bill in 1820 Maine was admitted to the Union as a Free State and no further slave states would be carved out of the remaining LA territory lying North of the southern border of Missouri 2Northwest OrdinanceIn 1787 Congress of Confederation issued a land ordinance that was essential for settling conflicts about Northwest Territory Northwestern states had all laid claim to this land because it was the strategic waterway leading to the Mississippi River it was a tributary The Ordinance declared that the Great Rivers Ohio MS etc should be forever free of tolls and other obstacles to navigation The idea of the ordinance was that the land belonged to all the states and should be free of toll The ordinance also banned slavery in the area3Monroe Doctrine P roclamation in 1823 by President James Monroe Basically it warned European nations not to get involved in political matters in Central and South America The Doctrine was intended to show that the United States was the only country that could influence such political matters Further several countries in South American had recently undergone revolutions against their European colonial owners and ended up with republican governments The United States agreed with their political philosophy and did not want to see those newly free nations become European colonies again Defining moment in foreign policy The doctrine put forward that the New World and the Old World were to remain distinctly separate spheres of influence for they were composed of entirely separate and independent nations4 Maysville Road Veto The Maysville Road veto was a famous veto by US President Andrew Jackson that is one of the most important events in the history of federalism in the United States The incident took place in 1830 The Maysville Road bill provided for the federal government to buy 150000 in stock in a private company to fund a 60mile road connecting the towns of Maysville and Lexington an extension of the Cumberland and National Roads The US Congress passed the bill with a 103 to 87 vote in the House of Representatives Jackson vetoed the bill arguing that federal subsidies for internal improvements that were located wholly within a single US state were unconstitutional Also Jackson said that he did not oppose the road but just wanted the state to build it not the federal government Following this veto were seven additional vetoes of public works projects including roads and canals This dealt a blow to the American System of Henry Clay Many historians have also concluded that Jackson acted out of pure hatred for anything having to do with Henry Clay his archrival Therefore out of spite he vetoed the bill5 year without a summer in 1816 the largest volcanic eruption Tambora the clouds drifted north which caused colder temperatures which reduced crop production raised prices 30000 settlers fled Alabama bw 18171819 due to crop failure Especially problem after 22 years of war Europe finds itself without food even from the US16Panic of 1819 The first major financial crisis in the United States which occurred during the end of the Era of Good Feelings Brought on by sharply falling cotton prices declining demand for American exports and reckless western land speculationThe panic marked the end of the economic expansion that had followed the War of 1812 and ushered in new financial policies that would shape economic development7 Panic of 1837The Panic of 1837 was a financial crisis in the United States built on 1a speculative fever The end of the Second Bank of the United States had produced a period of runaway inflation but on May 10 1837 in New York City every bank began to accept payment only in specie gold and silver coinage forcing a dramatic deflationarybacklash This was based on the assumption by former president Andrew Jackson that government was selling land for state bank notes of questionable value The Panic was followed by a fiveyear depression with the failure of banks and thenrecordhigh unemployment levels8Three fifths compromiseJohns Adams regretted compromise over slavery but the govt more important than slaves They came up with the 35 compromise for purposes of determining the number of votes a state would have 5 slaves would be equivalent of 3 people Accepted only after hearing it is wrong to count slaves as equivalent to a free person who doesnt have those rights though most men couldnt vote because of land owning restrictions Since slaves could not vote slaveholders would thus have the benefit of increased representation in the House and the Electoral College The final compromise of countingas only threefifths of their actual numbers reduced the all other personspower of the slave states relative to the original southern proposals but increased it over the northern position9 Pet Banks is a term applied to the state banks selected by the US Department of Treasury to receive government deposits in 1833 following the collapse of the Second Bank of the United States by President Andrew Jackson In 1836 there were 89 pet banks The term was soapplied because most of the banks were chosen not because of monetary fitness but on the basis of the spoils system which rewarded political allies of Andrew Jackson Constituted the Independent Treasury Most Pet Banks eventually lost money citation neededand failed The Pet Banks and smaller wildcat banks flooded the country with paper currency Because this money became so unreliable Jackson issued the Specie Circular which required all public lands to be purchased with gold andor silver This contributed to the Panic of 1837 where there was a major dip in the economy due to the increased debt created by this banking system10 XYZ affair initiated by Charles Maurice de Talleyrand French Foreign Minister They refer to the people as Mr X and Mr Y and Mr ZTalleyrands three anonymous agents demanded payments to stop French plundering of American ships in 1797 refusal to pay the bribe led to two years of sea war with France nd11 The Second Bank of the United States 20of the shares of the 2 bank were held by the US government was a bank chartered in 1816 five years after the expiration of the First Bank of the United States It was founded during the administration of US President James Madison out of desperation to stabilize the currency The Second Bank of the United States was located in Philadelphia Pennsylvania where its building designed by the architect William Strickland still stands as part of Independence National Park The south faade of the Second Bank of the United States in August 2006 The Bank served as the repository for Federal funds until 1836 when its charter expired after President Andrew Jackson refused to recharter it after a famous dispute with the Banks president Nicholas Biddle The Bank then became a private institution until it became defunct in 184112War Hawk is a term originally used to describe a member of the House of Representatives of the Twelfth Congress of the United States who advocated going to war against Great Britain in the War of 1812 The term has since evolved into an informal Americanism used to describe a political stance of preparedness for aggression by diplomatic and ultimately military means against others to improve the standing of their own government country or organization The term is an allusion to the hawk a bird of prey and is usually contrasted with the term dovish alluding to the more peaceful doveEx are Henry Clay Richard Johnson Felix Grundy John C Calhoun John Randolf 13 Henry M Shreve was an American inventor and steamboat captain and the man who opened up the Mississippi Ohio and Red Rivers to steamboat navigation Shreve was
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