- How did the embargo act of 1807 affect South Carolina?
Correct answer is A. It hurt the sale of the planter's rice and cotton.
<u>The embargo act of 1807 made it really hard for small farmers to sell the products of their plantations internationally.</u> Before the act, farmers would have personal deals to export their goods with boat owners; but with that it became impossible for these allies to reach the ports, which in result made it really difficult for planters to compete with other producers which were larger in size and actually had stable trade deals.
- How did the national bank regulate the nation's economy?
Correct answer is A. it controlled the supply of currency.
Alexander Hamilton had the original idea of creating a National Bank. <u>Within his idea, he thought of a banking system that could regulate the supply of currency expanding or contracting according to trading needs.</u> Today the National Bank still controls the amount of money circulating in the country depending on the economic situation, in a good situation the amount can be greater so the trading of currency can be bigger, in a bad situation the control of the amount of currency allows the National Bank to stabilize the prices of basic products, this control allows to achieve and control objectives of economic policy in the country.
- Describe the economic and political differences between the upcountry and the lowcountry. How do these differences lead to tensions?
At the time the lowcountry and the upcountry had very different opinions on economy and politics. The lowcountry based their economy mainly on slavery and therefore political decisions were made accordingly. Meanwhile in the "up country" slavery was carried out in a much more relaxed way since it was a practice not as supported and politics were mainly created around the work of the individual.
Tensions between these two groups were produced mainly because of their opposite views about slavery, and the politics of work. To make matters worse, the "low country" had more political weight than the upcountry, This was because the upcountry had to travel longer distances due to its geographical position in order to advance legislatures.
