 Jackson attacked the bank as being an organization of wealthy Easterners which ordinary citizens had no control  Jackson still felt the bank was unconstitutional despite the Supreme Court’s ruling in McCulloch v. Maryland

ILLUSTRATION DEPICTING JACKSON FIGHTING AGAINST THE BANK OF THE U.S.

 Jackson was re-elected and he decided to close the nationalbank. He ordered the withdrawal of all government deposits from the Bank & placed them in smaller state banks.  He refused to sign a new charter for the Bank & it closed

 Martin Van Buren (Democrat) – he was Jackson’s friend and Vice President (8 th President)  Van Buren faced bitter opposition from the  Whigs (a new political party), but Van Buren won

 a time when land values dropped sharply, banks failed, investments declined suddenly, & people lost confidence in the economic system  Van Buren’s reaction to the Panic of 1837 led many of his supporters to vote for a different candidate in the next election.

 Congress established it for the federal government to store its money  this caused a split in the Democratic party which gave the Whigs a chance to win next election

 William Henry Harrison (Whig) – died a couple weeks later  10 th President- John Tyler (Harrison’s Vice President)

 Whigs voted according to sectional ties (North, South, West) not party ties  resulted in Henry Clay (Whig) losing to the Democratic candidate James Polk (11 th President)