THE VIRGINIA DYNASTY 1801 1825
JAMES MADISON AFTER THE WAR OF 1812 THE ERA OF GOOD FEELINGS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Americans could not obtain imported products.
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there were congressional policies against free trade.
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British expertise encouraged factory production.
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new tariff policies supported British imports.
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Detailed explanation-1: -The embargo of 1807 and the War of 1812 cut off access to British manufactured goods. Eager for substitutes, Americans built their own factories in the Northeast.
Detailed explanation-2: -It needed economic independence. The Embargo Act of 1807 and the War of 1812 were the springboard for the Industrial Revolution. The Embargo Act of 1807 forced the United States to manufacture their own goods because they would not be able to trade for foreign goods.
Detailed explanation-3: -President Thomas Jefferson hoped that the Embargo Act of 1807 would help the United States by demonstrating to Britain and France their dependence on American goods, convincing them to respect American neutrality and stop impressing American seamen.
Detailed explanation-4: -Economically, the embargo devastated American shipping exports and cost the American economy about 8 percent in decreased gross national product in 1807. With the embargo in place, American exports declined by 75%, and imports declined by 50%-the act did not completely eliminate trade and domestic partners.
Detailed explanation-5: -Agricultural prices and earnings fell. Shipping-related industries were devastated. Existing markets were wrecked. Unemployment increased.