gov oct 27 hw - A udrey Oct 27 The second bank of the...

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Audrey Oct 27 The second bank of the United States was chartered in 1816, when the first bank lost its charter. The United States’ economy suffered inflation at the time as vast quantities of bank notes were issued and it was hard to tell how much one was worth. The second bank was established to set order among the states’ banks, compelling them to issue only sound notes. After the war of 1812, large amount of goods were imported to America from Britain. The amount was so large that it was hard for native manufacturers to compete. The Tariff was passed in 1816 to protect American goods and immediately limited a wide range of items imported from overseas. In 1816, steamboats were more popular than any other kind of transportation along the Mississippi River. Congress wanted to fund the internal improvements of traffic along the coast, but Madison disagreed. He stated that the purpose was good, but Congress could not fund the improvements without an amendment. By 1820, white settlers had crossed the Mississippi River and expanding the western land
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gov oct 27 hw - A udrey Oct 27 The second bank of the...

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