Andrew Jackson believed that the common man should have the same rights regarded to the elite people. Jacksonian democracy, as became known this period in American History, brought the two-party system and changed the rules in business and banking. Other points of this period can be sum upon these points:
<u>Suffrage</u>, even if not universal, <u>this suffrage gave to the common man the possibility to vote. </u>
<u>Government limitation</u>, to not create an <u>autocracy and tyranny.
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<u>Freedom of trade</u>, once <u>Jackson believed in the concept of laissez-faire. One way or another, this is one of the most preeminent aspects of the Jacksonian Democracy. Jackson was opposed to government monopolies granted to banks. He believed that a national bank existed only to deceive ordinary people and to fulfill the wishes of the wealthy elite.</u>
Monroe faced an economic crisis known as the Panic of 1819. It was the first major depression to hit the country since the 1780s. The panic stemmed from declining imports and exports, and sagging agricultural prices.
