The Bank of the United States participated in the speculative fever, that swept the country after the end of the War of 1812, by not effectively regulating the currency and the loans issued …show more content…
They believed that the government should not interfere with the economy and not give special favors to establish economic interests. The Democrats were supported by aspiring entrepreneurs who object government aid to establish businessmen, large numbers of city working men and farmers suspicious over new corporate enterprise, and by poor farming regions isolated from markets. The Whigs united behind the American System, believing that a via a protective tariff, aid to internal improvements, and a national bank, the federal government could guide economic development. The Whigs were strongest in the Northeast and were supported by businessmen, bankers, the counties of upstate New York along the Erie Canal; farmers in regions near canals, rivers, and the Great Lakes, who benefited from economic changes or hoped