Presentation on theme: "“The Little Magician, Tippecanoe and Tyler Too” (1837-1845) J.A.SACCO."— Presentation transcript:
“The Little Magician, Tippecanoe and Tyler Too” ( ) J.A.SACCO
The Election of 1836 Martin Van Buren Democrat Continue policies of Jackson. Daniel Webster Whig William H. Harrison Whig Hugh Lawson White Whig Whigs supported by anti-Jackson voters, states righter's against Jackson stance on nullification, those for Clay’s American System, Northern industrialists. Why did the Whigs nominate three candidates?
The Election of 1836 Did the Whig strategy work in the Election of 1836?
The Election of 1836 Why did Van Buren win the election? Martin Van “Ruin’s” Administration is a disaster. He was no Jackson and inherited the most severe depression up to that time, the Panic of 1837.
The Specie Circular Issued by Jackson at the end of his presidency. Stated that all land sales had to be paid in gold/silver (specie) Problems created by the Specie Circular?
The Panic of 1837
State Banks West. Land Speculators Exchange bank notes for gold/silver. Banks can’t meet demand. Gov’t Can’t Sell Western Land Can’t buy land. No gold/silver. Land prices drop! Banks want business loans to be repaid in specie. Business can’t pay back in specie. American Business Businesses close! Foreign Banks and Creditors Demand loans be repaid in specie Can’t repay in specie Banks fail
The Panic of 1837 Problem that caused the Panic? Too much paper currency/no gold or silver, no national bank Result of the Panic? Because funds had been deposited in state banks which collapsed, U.S. government had to issue special treasury notes to pay its bills Effects of the Panic? To avoid future problems, Independent Treasury System is created. Government collects taxes in gold and silver and deposits them in sub treasuries throughout the country. What weakness did the Panic make evident? The need of a National Banking system.
The Election of 1840 Martin Van Buren (Dem) William H. Harrison (Whig) Negatives?Positives?
The Election of 1840 Whig Party too strong. Formed by Henry Clay and Daniel Webster. End of Jackson Era!
Tippecanoe and Tyler Too! Hollow victory for Whigs, Harrison dies after one month in office. Tyler becomes President. Not a true Whig. Put on ballot because he was anti-Jackson. Tyler against Whig policies on Bank/Tariff/Internal Improvements Caused his entire cabinet to resign Webster-Ashburton Treaty (1842) –est. U.S. Canada border from Maine, and boundary from L. Superior to Lake-of-the-Woods.