James Monroe

1817-1825

“The Era of Good Feelings”

Era of Good Feelings

• Benjamin Russell

• Feds die = 1 party rule

• Nationalism

• J.M. wins all but one electoral vote in 1820

• But D.R. Party split by sectionalism– Tariffs, nat. bank, internal improvements, sale

of public lands

Panic of 1819

• Wild speculation on western lands• Overextended investments in manufacturing• Collapse of foreign markets• Commodity inflation• Contraction of credit – resumption of specie

payments• Mismanagement of 2nd National Bank• State bank failures – in South & West

Resentment against the Bank

• Thomas Hart Benson of Missouri labels it “The Monster”

Marshall Court

• Reinforces federal power:– Gibbons v Ogden– McCulloch v Maryland– Dartmouth v Woodward

Missouri Compromise

• Rapid growth of West

• Senate even at 11-11

• Missouri (slave)

• Maine (free)

• 36-30

• Preserves “Era of G. F.” but causes sectionalism

American System

• Henry Clay

• Internal Improvements (Vetoes Intra Improvements)

• National Economy binding regional interests

• Cumberland Road (National Road)

• Erie Canal

Foreign Affairs

• Canada: –Rush-Bagot Treaty

• US/GB on Great Lakes

–Treaty of 1818• Fishing, Oregon, 49th Parallel

Foreign Affairs

• Florida– 1817 Jackson pursues raiders– 1818 Destroyed Seminole, hung 2 Brits,

pushed out Spanish Gov’t• Congress outraged (JQ Adams supports)

– 1819 Spain “sells” for 5 million, US gave up claims on Texas

Monroe Doctrine

• A foreign policy

• Why issued? – Countries in

Europe (Spain & Russia)

were trying to expand

to W. Hemisphere

• Basic Ideas: “Europe Stay Out”

Monroe Doctrine

• W. Hemisphere closed to further colonization

• U.S. would not interfere with Europe’s internal affairs

• U.S, would not interfere with any existing European colony