<span>The start of the 1820s, an effective development praising the normal individual and advancing "New Democracy" changed the prior elitist character of American Politics. The questionable race of the Yankee sophisticate John Quincy Adams in 1824 infuriated the adherents of Andrew Jackson.</span>
<span>Industrialization required abundant energy sources.--the need for resources created a global market where resources were traded for consumer goods.
Industrialization and the need for resources began trade deals as well as imperialism worldwide. Industrializing countries had many consumer goods to trade and were willing to do so for basic resources like iron, rubber, oil, etc. </span>
Hamilton's next objective was to create a Bank of the United States, modeled after the Bank of England. A national bank would collect taxes, hold government funds, and make loans to the government and borrowers. One criticism directed against the bank was "unrepublican"--it would encourage speculation and corruption. The bank was also opposed on constitutional grounds. Adopting a position known as "strict constructionism," Thomas Jefferson and James Madison charged that a national bank was unconstitutional since the Constitution did not specifically give Congress the power to create a bank.
Hamilton responded to the charge that a bank was unconstitutional by formulating the doctrine of "implied powers." He argued that Congress had the power to create a bank because the Constitution granted the federal government authority to do anything "necessary and proper" to carry out its constitutional functions (in this case its fiscal duties).
In 1791, Congress passed a bill creating a national bank for a term of 20 years, leaving the question of the bank's constitutionality up to President Washington. The president reluctantly decided to sign the measure out of a conviction that a bank was necessary for the nation's financial well-being.
