Title: How did America change after the War of 1812? Essay - Academicscope
Headings: How did America change after the War of 1812? Essay
How did America change after the War of 1812? Essay
Content: In addition, tariffs helped protect American trade. The British stored goods during the war and flooded them on America when peace was achieved. To combat the inundation of imports, the national government issued a tariff to encourage people to buy American products and stimulate the growth of the economy. Moreover, the tariff assisted in rebuilding the federal treasury. After a growth in trade, the Panic of 1819, the country’s first major economic setback, hit. Europeans demanded American grain, meat, tobacco and cotton; farm products and land prices soared as farmers rushed to increase production. State banks would make loans to anyone who needed money to buy land or farm equipment. Afterwards, the country began to fall into depression as Europeans began to buy less expensive cotton from India and bumper crops. Crop prices and land prices collapsed;