What policies did Monroe implement economically?

Monroe implemented the policy of protecting and developing domestic capitalism economically. He insisted on the new tax law passed in 18 16, raised import tariffs and prevented foreign industrial products, especially British industrial products, from flooding into the domestic market. He encouraged the popularization of advanced technology, the publication of popular science publications, and the establishment of a scientific lecture system to accelerate the development of the large machinery industry. He allocated huge sums of money to build national roads, dig canals, communicate the links between eastern industrial areas and western agricultural areas, promote large-scale immigration to the west and develop the western economy.

Just as the capitalist economy in the United States is developing in great strides, it is facing the economic panic of 18 19. 18 12 after the war, superficial banking activities, fierce land speculation in the west and renewed competition for imported goods from Europe pushed the United States into the first Great Depression. Monroe and his Treasury Secretary Crawford and others did a lot of work to alleviate the economic difficulties caused by this, so that the American economy began to recover in 182 1 year.