1. Jackson and the Bank
Chapter 11: Section 3 Pp

2. War Against the Bank Bank of the United States
Controlled by wealthy Easterners
Controls much of the country’s money supply
Strict lending policies
Hurt western settlers
Run by private bankers
Nicholas Biddle- Bank President
Everything that Jackson dislikes
Wealthy, Educated
High social status

3. Nicholas Biddle

4. The Bank as an Election Issue
Election of 1832
Opponents plan to use the Bank to defeat Jackson
Biddle applies for a new charter
Charter: Government permit to operate the bank
Opponents believed the bank was popular among people
Jackson vetoed the bank’s new charter

5. The Election of 1832
The plan to use the bank to defeat Jackson backfires
People supported Jackson’s decision
Jackson withdrew all of the government money from the bank
Bank was closed by 1836

6. The Panic of 1837 Jackson did not run for a 3rd term in 1836
Martin Van Buren is elected as the 8th president
Economic Depression (1837)
Land values dropped
Investments declined
Banks failed
Thousands of businesses closed
Farmers went into debt and lost land
Cotton prices fell
People in the cities could not afford food or rent

7. Martin Van Buren

8. The Whigs Take Power
William Henry Harrison- 9th president of the United States
Hero of the War of 1812
“Tippacanoe and Tyler Too”
John Tyler- Running mate
1841- Inauguration Day
Bitter cold
Harrison delivered his speech without a hat or coat
Died of Pneumonia- 32 days later
John Tyler becomes first vice president to gain presidency because the elected president died in office

9. William Henry Harrison (Left) & John Tyler (Right)

10. Tyler’s Presidency John Tyler was elected as a Whig
He had once been a Democrat
Vetoed many bills sponsored by Whigs
Whigs expelled Tyler from the party
Most of Tyler’s cabinet resigned
James Polk (Democrat) elected in 1844
11th president of the U.S.

11. James Polk

12. Quiz
1. What were the problems with the Bank of the United States according to Andrew Jackson?
2. What happens to the Bank of the United States?
3. Who becomes president after Andrew Jackson?
4. What happens during the Economic Depression of 1837?
5. How does William Henry Harrison die? Who becomes president after him?
6. Why was John Tyler unpopular with his own political party, the Whigs?
7. Who becomes the 11th president of the United States?