Commerce and Crisis

The federal government asserts its dominance over state interests through a landmark ruling in Gibbons v. Ogden, which solidifies the control of interstate commerce. As the economy faces its first recession in 1819, the complexities of banking and currency regulation come to light, revealing a chaotic financial landscape where banks print their own money with varying values. The era of good feelings is tested as the nation grapples with economic instability and the implications of federal authority.