It was the first national economic panic since Washington took office. It featured deflation, depression, bank failures, foreclosures, unemployment, a slump in agriculture and manufacturing, and overcrowded debtors’ prisons. The Panic of 1819 marked the end of the economic expansion that followed the War of 1812. However, the prosperity following the War of 1812 collapsed, the Panic of 1819 took hold, and a resurgence of sectionalism erupted.
The first few years of Monroe’s presidency were blessed with peace, liberty, and progress. This phrase has often been used to describe Monroe’s presidency, but it is, unfortunately, somewhat misleading. The Columbian Centinel, a Federalist newspaper in Boston, went so far as to announce that an “Era of Good Feelings” had been ushered in. He was warmly welcomed everywhere he went-even Boston, which had become a center of wartime dissent for the Federalists during the War of 1812. The country was at peace and the economy was thriving when Monroe embarked on a goodwill tour of New England shortly after his inauguration in 1817.
Monroe’s presidency spanned the end of the Revolutionary generation and the emergent age of nationalism. Whatever his limitations, he surrounded himself with promising Republican leaders, including John Quincy Adams, Secretary of State and son of former Federalist President John Adams William Crawford, Secretary of Treasury and John C. Jefferson once said that if you turned Monroe’s soul inside out, it would be found spotless. Monroe was not considered a president with outstanding intellect, nor was he considered a strong leader, but he was regarded as extremely dedicated, levelheaded, and sincere. He fought in the Battle of Trenton during the Revolutionary War at the age of 18. senator, he was twice the governor of Virginia, he was President Madison’s Secretary of State, and he had also served a short time as President Madison’s Secretary of War. Monroe came to the presidency with a solid political background he had served as a U.S. The fading Federalist Party ran a candidate in the 1816 election for the last time, securing only 34 electoral votes compared to Monroe’s 183 votes. Monroe’s presidency was a continuation of the so-called “Virginia Dynasty,” since all of the presidents between 18 were from Virginia. Hippocampus United States History: The Era of Good FeelingsĪs James Madison approached the end of his presidency in 1816, a fellow Virginian and Republican-James Monroe-was elected as his successor.
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