Economic+Nationalism-cr

As Monroe became president, focus shifted from world affairs to national growth. Republicans set out to strengthen the American financial system, protect manufacturers, and to improve the transportation. At first, Republicans opposed the idea of a national bank. They blcoked the charter renewal of the First National Bank in 1811. The results were disastrous. During the War of 1812, prices rose rapidly. When the government borrow money for the war they had to pay high interest rates on the loans.