Industrial+Revolution+Group+3

1. Identify why the period after 1812 was considered the “Era of Good Feelings” (p.231). 2. Identify the problems in the economy that were highlighted by the War of 1812 (p. 231). 3. Provide a short biography of Henry Clay before identifying his three-part plan to increase federal involvement in the economy (p. 232). 4. Identify “tariffs” and explain how the Tariff of 1816 helped northern manufacturers and hurt southern planters (pp. 232-233).

goods for themselves. Americans produced more in agriculture, manufacturing and commerce. Doing this boosted American economy. Yes, but only one. The Republican Party was the only political party.
 * **What is an embargo and what was the significance of the embargoes instituted in 1812?**
 * Embargo**: government order prohibiting movement of merchant ships in or out of ports.
 * Significance**: When the government issued and embargo in 1812 Americans could no longer rely on foreign nations and were forced to produce
 * **Were there political parties in 1812?**

The Treasury had to rely on state banks for loans.
 * **When the U.S. Treasury was drained of money after war, how did it try** **to pay off its debt?**

The state banks gave loans exceeding the amount of specie (pieces of gold or silver) that they had. Because of this, banks many times refused to accept one another’s notes.
 * **What did the state banks do wrong with their loans to the U.S. Treasury?**

Merchants had to transport their goods by land because sea trade was blocked by British ships. The economy suffered from this because it took more time and money to have things delivered. Henry Clay was working as legal clerk (at age 15), where he began to study the court system. After he was a clerk, Henry then became an attorney. He then seved in kentucky state legislature in 1803. Henry Clay came up with a three part plan known as the **American System**. This system called for a **national bank** to provide sound and currency and to free the government from having to borrow money from other banks. It also called for **Protective tariffs** which encouraged industrial development. Lastly, it called for a **National Transportation System,** which helped to unite northern manufacturers, western farmers, and southern planters.
 * **How did transportation issues make the economy problem worse?**
 * ===**﻿ What jobs did he have before he became “Speaker of the House? **===
 * ======** What was the system that Henry Clay established? **======

A tax on imported and exported goods.
 * === **What is a protective tariff?** ===

Placed a 25% duty on most imported factory goods.
 * ===** What did the Tariff Act of 1816 entitle? **===

The northern manufacturers supported this tariff. They supported it because it taxed imports and exports with Great Britain.
 * ===** Who supported this tariff? Why? **===




 * [[file:Era of Good Feelings 2.pptx]]**