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Second Bank of the United States is established; First protective tariff goes into effect
The Second Bank of the United States was a private concern, but acted to control the currency of the United States. This function brought it into frequent conflict with state and local banks, particularly in the South and West. Those other institutions often issued large amounts of paper money and followed liberal loan policies; such practices were frowned upon by the conservative directors of the Second Bank of the United States. -
Rush- Bagot Treaty between the United States and the Great Britain
The Rush-Bagot Treaty was an agreement between the United States and Great Britain to eliminate their fleets from the Great Lakes, excepting small patrol vessels. The Convention of 1818 set the boundary between the Missouri Territory in the United States and British North America (later Canada) at the forty-ninth parallel. Both agreements reflected the easing of diplomatic tensions that had led to the War of 1812 and marked the beginning of Anglo-American cooperation. -
The Convention of 1818
After the US acquired the Louisiana Purchase in 1803, a boundary was agreed between the new lands and Rupert's Land. -
Panic of 1819
The Panic of 1819 was the first major peacetime financial crisis in the United States. It was followed by a general collapse of the American economy that persisted through 1821. The Panic heralded the transition of the nation from its colonial commercial status with Europe toward an independent economy. -
Congress accepts the missouri Compromise
On March 3, 1820, Congress passed a bill granting Missouri statehood as a slave state under the condition that slavery was to be forever prohibited in the rest of the Louisiana Purchase north of the 36th parallel, which runs approximately along the southern border of Missouri. -
Maine and Missouri become states
On March 3, 1820, the decisive votes in the House admitted Maine as a free state, Missouri as a slave state, and made free soil all western territories north of Missouri's southern border. Missouri so agreed and became the 24th state on August 10, 1821 -
President Monroe announces the Monroe Doctrine
The Monroe Doctrine was articulated in President James Monroe's seventh annual message to Congress on December 2, 1823. The European powers, according to Monroe, were obligated to respect the Western Hemisphere as the United States' sphere of interest. -
Supreme Court issues Gibbons v. Ogden decision
Gibbons v. Ogden was a landmark decision in which the Supreme Court of the United States held that the power to regulate interstate commerce, granted to Congress by the Commerce Clause of the United States Constitution, encompassed the power to regulate navigation. -
Andrew Jackson wins presidency
Jackson was the nation’s first frontier president, and his election marked a turning point in American politics, as the center of political power shifted from East to West. Jackson was an undoubtedly strong personality, and his supporters and opponents would shape themselves into two emerging political parties: The pro-Jacksonites became the Democrats (formally Democrat-Republicans) and the anti-Jacksonites (led by Clay and Daniel Webster) were known as the Whig Party.
