Jackson’s Administration By Mrs. Andreatta
The Party!
Day After the Party
Regional Differences ► North – Economy based on Manufacturing § Support for Tariffs = U. S. products can be sold cheaper than imported British goods. ► South – Economy based on Agriculture (Farming) § Hated Tariffs = imported goods cost too much! ► West – Emerging Economy – Support for internal improvements and sale of public lands
Tariff of “Abominations” ► Northern manufacturers demanded a tariff on imported wool products (goods coming INTO the U. S. ) § This will help protect against foreign competition! ► South – they OPPOSED the tariff because it hurt their economy. Too expensive to buy imported goods! ► Congress passed high tariffs on imports before Jackson was president. South called it “Tariff of Abominations!”
States Rights Doctrine ► Northern & Southern states in conflict over tariffs – Jackson had to do something! ► Can individual states disregard a law passed by Congress (a national law)? ► John C. Calhoun said they could because states helped form the federal government states should have equal or greater power than the federal government. ► He called it the States Rights Doctrine!
John C. Calhoun – Vice President
Hayne-Webster Debate ► The issue of States’ Rights and Nullification was hotly debated on the Senate floor. ► Hayne from South Carolina defended states’ rights - protection from unfair laws. ► Daniel Webster from Massachusetts argued that the United States was one nation, not a pact among independent states. The welfare of the nation should override individual states.
Nullification Crisis ► States rights vs. Federal laws = Nullification crisis. ► Jackson or tax. asks Congress to pass a lower tariff rate ► Jackson opposed nullification, but was worried about the Southern economy. . . He was from South Carolina. ► South Carolina passed the Nullification Act. The Act declared that the 1832 tariffs were null & void.
Nullification Crisis Con’t ► Congress finally passes a lower tariff (this makes South Carolina somewhat happy) ► Jackson tells South Carolina to repeal the Nullification Act or he will send in troops! This is called the Force Bill. ► South Carolina repeals the Act – however – they still believe in states rights! ► John C. Calhoun resigns and Van Buren becomes V. P.
Jackson Fights the Bank ► The 2 nd Bank of the United States – Founded in 1816. ► Given a 20 year charter. ► Bank was to act exclusively as the Federal Governments financial agent ► 80% of the Bank was privately owned through stockholders– but Congress & President supervised the bank.
The Bank ► The South hated the bank – Gave too much power to the wealthy. ► Jackson hated the bank – thought that it gave too much power to the federal gov’t. – The bank was “Unconstitutional!” ► Jackson nicknamed it “The Monster. ”
Mc. Culloch vs. Maryland ► Maryland tried to pass a tax that would limit the banks operations ► James Mc. Culloch – Cashier of the Maryland branch – refused to pay the tax. ► Mc. Culloch vs. Maryland (Supreme Court Case)! Supreme Court declared banks Constitutional.
Jackson Opposes the Bank ► Upon hearing the Supreme Court’s decision, Nicholas Biddle, the bank’s president, asked Congress to renew the 20 year charter early. ► The bank sent a bill to renew charter in 1832 – Jackson swore he would VETO the bill. HE DID! ► Jackson said “ I will KILL it!” ► Congress could not get 2/3 vote to override veto!
Jackson Opposes the Bank ► Banks funds were moved to State Banks – “Pet Banks”. ► States offered easy credit terms to people buying land which led to inflation. ► Jackson tried to slow inflation – only buy land with gold and silver – didn’t work! ► This inflation eventually led to a national financial crisis called the Panic of 1837
The Panic of 1837 ► In the election of 1836, a new party, the Whigs emerged. ► Whigs want to take control but can’t decide on a Candidate. They want a weak president. ► Andrew Jackson supports Martin Van Buren – he becomes the next president of the U. S. (Democrat)
► The Panic of 1837 was an economical crisis that touched off a major recession that lasted until the mid-1840’s. ► Profits, prices, and wages went down while unemployment went up. ► The panic occurred after Jackson’s actions to defeat the bank. ► Although, the Panic of 1837 was Jackson’s fault, Martin Van Buren got blamed. ► By the time the next election came, he was weakened politically and the Whigs won the presidency in 1840.
Martin Van Buren!
Political Cartoons
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