... the presidential elections of 1816, James Monroe was the candidate for the Democratic Republican party and his running mate was Rufus King of New York from the Federalist party.3 but by this time, the Federalist party had diminished, and so Rufus King was left without that many supporters. Monroe was better fit to be president than Rufus for Rufus King had had ... much supply of metals, and American state and private bankers issued banknotes that were not backed by gold or silver. This caused the United States to expand their use of paper money. When speculators borrowed a lot of money ...

• Word Count: 2246
• Approx Pages: 9
• Grade Level: High School