One of the most important agreements in United States history was the Compromise of 1790. As such, the deal had massive implications for the political and economic future of the nation. The Compromise of 1790 involved two rivals with drastically different visions for the direction of the United States. Thomas Jefferson was an advocate of …
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One of the most controversial issues of the First Congress was the debate over the assumption of state debts. Central at heart was the issue of how to establish strong public credit for the new nation. New Secretary of the Treasury Alexander Hamilton believed that good public credit was essential to the success of the …
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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 …
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 …
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 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 …
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 …
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 …
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 …
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 …
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: …
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 …
