The 1819 Panic was the first financial crisis in the U.S which brought about a conflict between the members of the Democratic-Republican party. This was because the Northern industrialist wanted high tariffs compared to the southern plantation who were not for the idea. The Panic was the first major peacetime financial crisis in the United States that exacerbated tensions within the Republican Party. <em>The Panic further provoked sectional tensions as the northerners advocated for higher tariffs, unlike southerners who rejected their support for the nationalistic economic programs.</em>
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Most historians are going to agree that the industrial revolution was key to the European dominance.
<h3>What was the industrial revolution</h3>
This was a period in the history of Europe when major areas and countries in the continent moved from agriculture to manufacturing.
The use of technology and the building of factories in the continents was one of the factors that led to its great presence and powers in this century.
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