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☆☆☆☆☆Francis Cabot Lowell
The result of the destruction of the national bank was that paper money of uncertain value flooding the economy.
Whitney's cotton gin created an easy way to pick the seed from the cotton. Once this was possible cotton became a cash crop and it was necessary to be picked far more to keep up with the ability to de-seed it. This in turn led to the need of more people (slaves) to pick the cotton.
In 1824, John Quincy Adams was elected President. There were four candidates that received a substantial number of electoral votes, so that no one candidate received a majority. Therefore, in accordance with the US Constitution, the House of Representatives chose the president. Jackson got the most electoral votes and also won in popular votes but with some political maneuvering mostly by Henry Clay, Adams prevailed. Adams made Clay his Secretary of State and Jackson people screamed ,"Foul Play!", but it was all legal.
the boom and bust cycle of capitalism
Emplotment, profits, and incomes are high.
the textile industry
