jan 1, 1815 - Contextualization (4.3) : Economic and Cultural Nationalism.

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Contextualization:
Prior to the Economic Nationalism, the US was at war with Britain, war named the War of 1812. Of course after War the country's system would be damaged and may face many problems especially in case of Economics.

Henry Clay who became the leader of Whigs (Federalists) also known as the Great Compromiser was one of the key figures of economic nationalism in the US.

Henry Clay was the guy who made the Missouri Compromise in which Missouri would be a slave state and Maine would be a free state, plus there was no future slavery north of the southern boundary of Missouri (36 30)

He introduced the American System.
The creation of a new national bank.
Protective Tariffs to shield American Industry
Working on Internal Improvements such as building roads and canals.

Many people felt that there would be a need for creation of the US national Bank. Southerns believed that National Bank would favor the Northern People, because most Southerns were poor farmers and did not need high interest rate, on the other hand the Northerns were rich and bankers who wanted high interest rate.
Actually, Congress passed the national bank which was counted as the second national bank of the US, but during the presidency of Andrew Jackson, it was cancelled.

Protective tariffs was another problem for Southerns, because as long as there were taxes on foreign goods, the prices were going up. This act favored northerns because they were rich and industrialized people. These types of tariffs were made to protect the American goods and led the American Economy going up. Congress passed this provision as well.

Henry Clay also wanted to work on internal improvements of the country, by planning to make roads and canals in order to ship and sell and buy faster and people being in more facilities.
But, the Congress did not pass it.

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