APUSH Ch. 10-13 Outline - Ch 10 1 150-159 191-194 Amsco Post War Issues(continued War produced issues with banking system back to hamilton's bank Bank

APUSH Ch. 10-13 Outline - Ch 10 1 150-159 191-194 Amsco...

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Ch. 10 150-159 191-194 Amsco 1. Post War Issues(continued) War produced issues with banking system, back to hamilton's bank Bank was only a temporary fix Bank had a charter that only lasted for 20 years 1791-1811 If bank was doing well, charter would be renewed 1811-bank was not renewed, bank was trying to be killed by congress members 1811-1816-no national bank Every state runs its own bank and currency system Problems with shipping and transportation Canals and railroads were being perfected, but cost a lot of money Question became who was going to pay for these perfections Issues around president madison He acknowledged that country was struggling even after we just won the war Recognized that at his core, he is a federalist Starts struggling in second term about what role government should have in transportation, banking, and constitution Second term-goes through bipolar political state between republican and federalist Believe government is necessary, but should still give freedom 2. Nation Bank(BUS) In war of 1812, every state was issuing own currency Every state's value for currency is different 1816-congress wonders whether bank is necessary for stability and security For last 5 years, states have run own things Decide we need another bank Called the second bus, or second national bank Same fundamentals as hamilton's bank 1816-bank renews another 20 year charter till 1836, cannot be eliminated Bank now was owned by 5 government depositors National bank is run by 25 men, 5 are government appointed of directors are run by government All of the money that came for finances went through national bank(taxes) Allowed several mini state banks around the states Branches of different banks Since federal government was depositing money, government was not charged banking fees Made money by opening doors to other investors and depositors Hamilton's bank has gotten bigger, starting point for financial movement in country Local banks suffer due to big bank, currency wasn’t worth if not from national bank Doesn't do a good job of overseeing the travel of money Some congressmen say this bank will hurt western farmers due to location in philly Merchants didn't’ care since they weren’t affected West was at financial mercy of the east, screwed unless east cares about you 3. Internal improvements a. Info i. Anything substantial to build infrastructure of country(roads and transportation) ii. Way for government to improve efficiency in transportation and communication

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