Banks channel money from savers to borrowers in order to make money off of the "interest" that is charged by the bank to the person or firm taking out a loan. A portion of this interest is also paid to the original "saver".
Laissez-faire or free enterprise system is the principle wherein the government has little or minimal interference in the nation's economy.
This principle allowed more people to open, specialize, and industrialize their business efforts. This practice boosted the economy making more profit not only for the business people but for the nation as a whole.
It also benefited consumers because they were able to have more choices in terms of basic and luxury products.
It ended with the exchange of ratifications of the Treaty of Ghent. In 1812, with President Madison in office, Congress declared war against the British. The war began with an attack on Canada, both as an effort to gain land and to cut off British supply lines to Tecumseh's Indian confederation, which had long troubled the US.
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