Key Events in President James Monroe's Administration
• Missouri Compromise, 1820---This law maintained a tenuous balance between number of free and slave states in the Union by admitting Missouri as slave state and Maine as a free state.
• Monroe Doctrine—Monroe’s address to Congress warning European powers against intervention in the Western Hemisphere.
• Panic of 1819---Bad banking practices and the War of 1812 sent the nation into an economic panic that lasted until 1821.
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