The Importance Of Money And Prices In America

Economic: Money and prices played an important part in this time era. Even thou at this time period people were having challenges it has shaped who America is today. In 1836 “Jackson’s decision to remove funds from the bank and deposit them in state banks damaged the economy” (Keene 242). As a result of the damaging economy prices went up. “To slow down the overheated economy, Jackson adopted a hard money policy, The Specie Circular, which required that land purchased from the government be paid for with specie- hard currency (before this policy individuals had purchased land with bank notes that were not guaranteed by gold or silver)” (Keene 242). Even thou the problems with the economy was drastic it shaped how America is today. Because of the drastic decline in economy it took America many years to rebuild the economy.
“The Whigs favored tariffs and federal support for internal improvements, supported the US banks, opposed indian removal, and supported a strong central government” (Keene 249). Unlike the Whigs the Democrats “opposed tariffs and federal support for internal improvements, opposed the bank of the US, favored Indian Removal, and States rights” (Keene 249). The Whigs and the Democrats made many advancements in America. One result in the debate is the Kansas Nebraska Act that opened slavery up to many states. Another result from the feud was the beginning of the Republican