Politics
Historian Yonatan Eyal argues that the 1840s and 1850s were the heyday of the faction of young Democrats that called itself "Young America." Led by Stephen Douglas, James K. Polk and Franklin Pierce, and New York financier August Belmont, this faction broke with the agrarian and strict constructionist orthodoxies of the past and embraced commerce, technology, regulation, reform, and internationalism.
In economic policy Young America saw the necessity of a modern infrastructure of railroads, canals, telegraphs, turnpikes, and harbors; they endorsed the "Market Revolution" and promoted capitalism. They called for Congressional land grants to the states, which allowed Democrats to claim that internal improvements were locally rather than federally sponsored. Young America claimed that modernization would perpetuate the agrarian vision of Jeffersonian Democracy by allowing yeomen farmers to sell their products and therefore to prosper. They tied internal improvements to free trade, while accepting moderate tariffs as a necessary source of government revenue. They supported the Independent Treasury (the Jacksonian alternative to the Second Bank of the United States), not as a scheme to quash the special privilege of the Whiggish moneyed elite, but as a device to spread prosperity to all Americans.
The movement's decline by 1856 was due to unsuccessful challenges to "old fogy" leaders like James Buchanan, to Douglas' failure to win the presidential nomination in 1852, to an inability to deal with the slavery issue, and to rising isolationism and disenchantment with reform in America.
Read more about this topic: Young America Movement
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