Economy

The Embargo Act of 1807 failure

Why Did the Embargo Act of 1807 Fail?

In 1807 President Thomas Jefferson helped to pass one of the most controversial laws in US history. Just why Jefferson’s Embargo Act of 1807 failed is a topic for debate amongst historians, though several theories are more widely accepted. The Embargo Act was passed in response to repeated British and French violations of American neutrality …

Why Did the Embargo Act of 1807 Fail? Read More »

The Embargo Act of 1807

The Significance of the Embargo Act of 1807

In the early 19th century Thomas Jefferson signed into law one of the most consequential pieces of legislation in US history: the Embargo Act. The significance of the Embargo Act of 1807 lies in how ineffectual it was at preventing war with Great Britain and the massive backlash it faced from the American populace. Tensions …

The Significance of the Embargo Act of 1807 Read More »

Significance of Panic of 1837

The Significance of the Panic of 1837

At the end of Andrew Jackson’s presidency the United States was hurtling towards an economic crash. The significance of what is now known as the Panic of 1837 is just how devastating it was for the economy, which took years to recover. Hundreds of banks failed, businesses closed, unemployment skyrocketed, and international trade ground to …

The Significance of the Panic of 1837 Read More »

Causes Panic of 1837

4 Causes of the Panic of 1837

The Panic of 1837 was a terrible financial crisis that gripped the United States from roughly 1837-1843 which had a number of causes. Hundreds of banks closed, unemployment soared, bankruptcies were common, and personal debt skyrocketed as life savings for the common man evaporated. The effects of the Panic of 1837 would last generations as …

4 Causes of the Panic of 1837 Read More »

Significance Macons Bill No.2

The Significance of Macon’s Bill No. 2

There were many economic measures that the United States utilized in the early 1800s in hopes of persuading Great Britain and France to honor its commercial rights as a neutral nation. The true significance of Macon’s Bill No. 2, the last economic measure, is in its failure and how it ultimately pushed the United States …

The Significance of Macon’s Bill No. 2 Read More »

Important Tariff of Abominations

Why Was the Tariff of Abominations Important?

One of the most divisive US economic policies of the 19th century was the Tariff of 1828. The bill was nicknamed the “Tariff of Abominations” and was an important policy contributing to the 1832 Nullification Crisis. The tariff was similar to the protectionist Tariff of 1816 in that it was designed with the intent to …

Why Was the Tariff of Abominations Important? Read More »

Important Bank War of 1832

Why was the Bank War of 1832 Important?

One of the main priorities of the Jackson administration was to address the Second Bank of the United States. Jackson’s handling of the issue became known as the Bank War of 1832 and would have important and lasting effects on the economy and commerce in the United States. Andrew Jackson won the presidential election of …

Why was the Bank War of 1832 Important? Read More »

Significance of Tariff of 1816

Who Supported and Opposed the Tariff of 1816?

Tariff policy and its effect on sectionalism in the early United States has drawn considerable interest throughout American history. Based on traditional narratives it is surprising to learn just who supported and who opposed one of the first major tariffs in American history: the Tariff of 1816. A tariff is tax on specific imported goods …

Who Supported and Opposed the Tariff of 1816? Read More »

Purpose American System

Was Henry Clay’s American System Successful?

In the early 1800s the politician Henry Clay championed a new economic plan to help spur self-sufficiency in the United States. The question of whether the so-called “American System” was successful is varied, though the plan dominated economic discussion throughout most of the early 19th century. The American System was composed of three primary policies: …

Was Henry Clay’s American System Successful? Read More »

Causes Panic of 1819

The Causes and Effects of the Panic of 1819

The United States experienced a post-war economic boom followed immediately by a nation-wide financial crisis in the aftermath of the War of 1812. The causes of the Panic of 1819 were multifaceted and complex, and the effects of the depression could be felt for decades afterwards. Post-War of 1812, the United States entered a period …

The Causes and Effects of the Panic of 1819 Read More »

Purpose 1887 Interstate Commerce Act

The Purpose of the Interstate Commerce Act of 1887

As the United States began its rapid entry into the Industrial Era, it became quickly apparent that certain industries needed government regulation. The purpose of the Interstate Commerce Act of 1887 was to provide regulation over the burgeoning railroad industry. In the aftermath of the Civil War, the United States began to experience the effects …

The Purpose of the Interstate Commerce Act of 1887 Read More »