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Capitalism & Economy

Capitalism & Economy. The New Republic. How did American values both challenge and promote new economic ideals?. Mercantilism. U.S. gained trade advantages during war Robert Oliver John Jacob Astor US Bank allows Americans to be independent of Brit. Aft 1811 State Banks Profitable

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Capitalism & Economy

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  1. Capitalism & Economy The New Republic

  2. How did American values both challenge and promote new economic ideals?

  3. Mercantilism • U.S. gained trade advantages during war • Robert Oliver • John Jacob Astor • US Bank allows Americans to be independent of Brit • Aft 1811 State Banks • Profitable • Loaned money • Panic of 1819 • Natural Business cycle

  4. Pittsburgh 1817 Pittsburgh 1817

  5. Regional Divide • Banking & Manufacturing • Northeast • Power & Money • Port Cities prosper • Rural Expansion • Artisans • Ex: shipbuilders • Entrepreneurs develop a system • From subsistence to profit • Environmental impact • Efficiency and dependency

  6. The Commonwealth System • Legislatures promote “common wealth” • Eminent domain • State court judges follow Marshall • States provided charter to corps. • Individual rights compromised • Private property • Power shifted to corporations • State aid to private businesses

  7. First Bank of the U.S.

  8. Slavery Defended • Courts viewed slaves as property • Virginians feared manumissions in North • Individual liberty and equality for WHITES only

  9. Sources: Government & the Economy • Fletcher v. Peck • 1810 • Why did the framers place restrictions on state legislatures? • Do you agree with Marshall’s interpretation of Article 1, sect. 10 • Madison’s Veto of Calhoun’s Internal Improvements Bill • 1817 • Why does Madison believe the bill is unconstitutional? • How do you interpret Madison’s conclusion?

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