The Age of Jackson Era or Error

The Age of Jackson

Era or Error of the Common Man • First President not from a prominent colonial family – A self-made man – Political Participation did grow • But common folk were still… common folk • Power and Privilege still in hands of the few • Jackson was – Short Tempered – Tough as Nails – And a good hater…

Divide of the Government • Cabinet Rivalry – Divided administration • Sec. of State – Martian Van Buren • Vice President – John C Calhoun – Both men wanted to be Jacksons successor – Eaton Affair • Peggy Eaton • Floride Calhoun • Closer to Van Buren

Nullification • Nullification – where a state can declare a federal power null and void it if harms that state or violates the constitution – Stems from the belief states are sovereign powers – Force federal government to remove law or make constitutional amendment to justify law – Lead by John C. Calhoun of South Carolina • SC suffering from agriculture depression, Protective Tariffs exacerbated situation

The Webster-Hayne Debate • Debate of Nullification that sharpened lines between states rights (south) and a strong union (North) • Began over issue regarding sale of western public land • North wanted to restrict • South wanted unrestricted – hoped to gain support from western territories over nullification – Robert Y. Hayne defended south • Quickly turned to debate over states rights and nullification – Daniel Webster defended north • “Liberty and Union now and forever on and inseparable” • Nullification would weaken the union and lead to civil war • President Jackson Agreed

Jackson v Calhoun • Two Issues – Jackson publically state his opposition to states right and nullification – Jackson saw 1818 letter of Calhoun encouraging military discipline of Jackson for his episodes in Florida • Widened rift with Calhoun • Jackson removed all Calhoun supporters from his cabinet and replace with people loyal to him • Jackson decided to run for second term, despite pledge not to… • Martin Van Buren became new VP candidate • Calhoun’s presidential ambitions derailed, became champion of states rights and nullification – stated the beat of the drum for civil war.

Clay’s Compromise • Calhoun resigned as VP to defend Nullification on the senate floor • South Carolina Ordinance – nullification that repudiated the federal tariff acts • • No other state supported Jackson pledge to uphold national law Sent troops and ships to South Carolina mobilized militia • Henry Clay’s Proposal – Reduce the national tariffs gradually until 1842 – Both side agreed and compromise became law

The Bank Controversy • Bank of the United States – Ran by Nicholas Biddle – Supreme Court ruled it was constitutional – Most powerful lending institution in US – Forced state banks to keep gold or silver to back paper money – Regulated currency and national economic growth – Jackson hated • Symbol of Wealth and Powerful • Promoted National government • Jackson vetoed its recharter, said it was unconstitutional despite what court and congress said

Election of 1832 • Jackson saw reelection as a mandate in his banking views – With nullification defeated, Jackson freed to wage war on the bank – Jackson moved all government money from Bank of the US to 23 state banks (Called Pet Banks) loyal to him – Speculation Bloomed • Lack of Public Credit lead to economic recession • “Wildcat” banks bloomed, printed paper money without restraint • Sale of public lands • States became indebted to pet and wildcat banks

Fiscal Collapse • Increase Currency = Increase Inflation • Distribution Act – Government surplus would be given to states as loans – Deposited into pet and wildcat banks • Specie Circular – Only gold or silver could be used to buy public lands – Few settlers could pay • Both put state banks in plight • Banks recalled loans to pay back government

Election of 1836 • Jackson extremely popular – Defeated Nullification – Defeated the Bank of the US • Economic Recession did not hurt Jackson reputation • Whig party sprang up in opposition to Jackson’s policies – Three candidates: daniel Webster, Hugh Lawson White, and William Henry Harrison • Democrats nominated (and Jackson handpicked) Martin Van Buren, who won an easy election

Panic of 1837 • Van Buren inherited a financial panic – Bank Crisis and European Recession • Collapsed economy – Bank and business when under – Inflation increased – Jackson’s mess • Van Buren response – Did not feel governments obligation to bailout business or farmers – Independent Treasury Act – created us treasury that stored US money • Occupied his presidency

The Whigs • Traits – Conservative and Traditional – Wealthy and Protestant – New Englanders • William Henry Harrison Presidential Candidate in 1840 – John Tyler of Virginia as VP • Not a Whig, but a democrat • Placed on ticket to win votes – No platform – did not want to divide party – Harrison won

The End