CHAPTER OUTLINE

Economic isolation Postwar conditions Movement west Regional blocs Economic prosperity Madison’s proposals National Bank Effects of the expiration of the National Bank in 1811 State banks mushroomed Hard money gravitated to New England State banknotes declined in value Absence of a central banking function Proposal for a new National Bank Support and opposition to the bank characterized Protective tariff Internal improvements Call for constitutional amendment State actions for internal improvements Calhoun’s bill and its fate Status of internal improvements An era of political harmony Election of 1816 James Monroe characterized Monroe’s cabinet The election of 1820 and the demise of the first party system Diplomatic developments Rush-Bagot Agreement of 1817 to limit naval forces on the Great Lakes Convention of 1818 Acquisition of Florida Portents of diminishing political harmony Panic of 1819 Speculative binge Easy credit State banks lent beyond their means National Bank added to speculative mania State-chartered banks forced to maintain specie reserves The Missouri Compromise Early negotiations for Missouri’s entry as a state Terms of the compromise Judicial nationalism Court membership Cases asserting judicial review Marbury v. Madison (1803) Fletcher v. Peck (1810) Martin v. Hunters Lesee (1816) and Cohens v. Virginia (1821) Protection of contract rights in Dartmouth College v. Woodward (1819) Curbing state powers in McCulloch v. Maryland (1819) Nature of the case Assertion of loose construction National supremacy in commerce, Gibbons v. Ogden (1824) Nature of the case The decision and its effects Nationalist diplomacy Negotiating Russia out of Oregon The Monroe Doctrine Impact of Napoleonic Wars on Latin America British efforts to protect Latin America The Monroe Doctrine asserted Reactions to the doctrine One-party politics in 1824 The candidates The system for nomination The issue candidates Outcome of the race Charges of “Corrupt Bargain” Presidency of John Quincy Adams Adams’s character and plans Adams’s mistakes Political activities that hurt him Tariff of 1828 Election of 1828 Opposition to Jackson His appeal to different groups Extension of suffrage in the states Other domestic trends Outcome of the election