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James Monroe: The Era Of Good Feelings

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After Madison’s term ended, James Monroe was elected as the new President. His term was quickly coined as the “Era of Good Feelings” (Shi and Tindall 302). Upon his arrival, the economy was finally thriving, and America was not involved in any war at that time. However, the state of peace was abruptly disrupted with the Panic of 1819. An increase in demand of American supplies caused an increased number of loans being dispersed loosely to accommodate the manufacturing needs. The boost of the economy encouraged individuals to purchase federal lands in the intent of reselling them for a profit. At the height of the economy, Britain opted to stop purchasing the cotton from America when they could purchase it elsewhere for cheaper. This sudden

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