Ch. 7, Sect. 4 Jackson, States Rights, and the National Bank HW: 9.1
Tariff of Abominations of 1828 Tariff raised from 23%-37%. WHY DOES THE SOUTH OPPOSE TARIFFS? Higher Tariffs Fewer Imports from Britain Britain makes less $ Britain buying less cotton from South
Tariff of Abominations of 1828 Tariff seen as an encroachment on states rights, esp. in South Carolina Calhouns South Carolina Exposition and Protest calls for nullification, which also implied power of a state to secede from the Union –Leads to debate in Senate between Webster and Hayne over the nature of the Union
Daniel Webster Massachusetts Robert Hayne South Carolina Liberty and Union, now and forever, one and inseparable." inseparable
Growing Sectionalism Calhoun leaves Vice-Pres. & becomes defender of sectionalism, embittered against Jackson & nationalism –Took Haynes seat in Senate and he ran for governor of South Carolina Webster-Hayne debates outlines future split b/w North & South, b/w Secessionists & Unionists 1832: South Carolina declares Tariffs of 1828 and 1832 null- threatens to secede
South Carolina Rebels 1832 Tariff slightly increased tariff of 1828 SC Declared the increase Null and Void SC Threaten to secede Jackson was furious Force Bill (1833)- Pres. Jackson authorized to use military to enforce the Tariff Henry Clay –The Great Compromiser –The compromise is to gradually reduce the tariff over several years –War was avoided, well at least for a few years –SC. Nullifies the Force Bill (Spite!!!)
B.U.S. (Bank of the United States) Clay and Webster try to renew the BUS charter Jackson is suspicious of the BUS, sees it as a threat to democracy b/c of its influence and its loans to corrupt politicians Jackson rouses anger of the people against BUS and its President Nicholas Biddle Bank loses charter, eventually goes out of business. HISTORICAL CONSEQUENCES: 1. Banking shifts from Philly to NYC and smaller banks 2. Clay and Webster create a new political party, the Whigs, to oppose Jackson and the Democrats.
Jackson and the National Bank Jackson opposed the National Bank –Personal problems (corrupt politicians, Biddle) –Saw the bank as a symbol of Northern wealth and power –Common Man Pet Banks Formation of Whig Party –Jackson viewed as a king (Veto!!)
Jackson anoints Martin Van Buren to become President after him and to lead the Democratic Party. PANIC OF 1837: Causes and Effects What is historys verdict of Van Buren? How much of the Panic of 1837 was his fault? Fed $ put in Wildcat Banks Specie Circular 1836 run on Bank Notes Banks stop accepting paper $ Bank closings Unemployment & Recession
How would you evaluate Andrew Jacksons presidency? GOOD: BAD: UGLY:
http://www.usconstitution.com/williamhenryharrison_campaignposter.jpg William Henry Harrison Whig Party Candidate 1840
Jacksons Legacy VP Martin van Buren becomes President –Won election with Jackson's support –Bank Problems Pet Banks become Wildcat banks Panic of 1837 William Henry Harrison –Whig Party –Defeated van Buren
Election of 1840 Van Buren (Dem) vs. Harrison (Whigs) Whigs steal Jacksons political strategy: Run an old war hero as a man of the people = William Henry Harrison, Gov. of Indiana and Hero of Tippecanoe IRONY= Harrison was the aristocrat, Van Buren had grown up in poverty. Harrison wins, then dies after 4 weeks in office.
Tyler: A President without a Party 1841: Tyler assumes Presidency after Harrisons death Tyler turns out to be more of a Democrat than a Whig! Clay and Whigs clash with Tyler over creating BUS (Bank of the United States) and then Tyler threatens to veto Tariff increases.