After the War of 1812, Republican Henry Clay, a congressional leader from Kentucky came up with an economic plan that called the American System. This plan has consisted of three important parts: promoting products in the American industry and support the tariffs; help finance more roads, bridges, and canals; create a national bank to regulate local banks and unstable state. However, shortly after things began to get worse when the southern and western farmers and the common people had to pay higher prices for the goods produced by the tariff industries.
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Many westerners and southerners also feared the Second Bank of the U.S. would become so powerful that it could destroy the nation’s economic future at the expenses from states’ rights. Follow by the Panic of 1819 that drowned the whole economic expansion created the first major financial struggle happened in America. It leads to a surprising rate of foreclosure and bank failures, a huge amount of increase in unemployed, and the downfall of agriculture and manufacturing. These depression panic tensions last about three years and many people blaming the B.U.S. Even though the panic has gone, many from the South and West of America still remained critical with banking issues. By 1819, the president and Congress faced another tough decision on the admission of Missouri state signed as a slave state. By the time, the country had 22 states with an equal number of eleven each of slave and free states.
A brief summary from the document REFLECTIONS ON THE MISSOURI QUESTION (1820), JOHN QUINCY ADAMS by the author named Allan Nevins. Adams’s belief that slavery settled widespread in the South and his worry for the image of slavery to the Union.
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