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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It nearly destroyed the New England economy
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It was designed to open trade with one of the belligerents (Br/Fr) if it repealed its own trade restirctions
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It caused devastating shortages of food in France
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The Supreme Court ruled that it was an unconstitutional overstretch of national authority
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Detailed explanation-1: -Which of the following was true of the Embargo Act of 1807? Americans were prohibited from sending ships to foreign ports.
Detailed explanation-2: -The embargo was an unpopular and costly failure. It hurt the American economy far more than the British or French, and resulted in widespread smuggling. Exports fell from $108 million in 1807 to just $22 million in 1808. Farm prices fell sharply.
Detailed explanation-3: -Explanation: successfully punished Great Britain and France for violations of neutrality. It hurt US trade more than it hurt France and Great Britain.
Detailed explanation-4: -Agricultural prices and earnings fell. Shipping-related industries were devastated. Existing markets were wrecked. Unemployment increased.