1. Jackson’s Administration
The Reign of King Andrew
Tariffs, and Nullification, and Banks...oh my!

2. Bye, Bye, BUS #2
Standard 8.55

3. 2nd Bank of the United States
What does it do??
Held federal deposits
Made transfers of federal funds between states
Processed payments and receipts involving the federal government

4. Opposition to the Bank Southern states oppose the bank
Small farmers believe the bank only helps wealthy business people
Jackson believes the bank is unconstitutional

5. 2nd Bank of the United States
Henry Clay supports it.
He runs against Jackson for president in 1832

6. 2nd Bank of the United States
Clay tells Nicholas Biddle, head of the BUS, to apply for the charter early.
This makes the BUS a major issue in the campaign

7. Nicholas Biddle-director of the Bank of the United States

8. McCulloch v. Maryland (8.40)
Maryland tries to pass a tax to limit bank operations
McCulloch refuses to pay the tax
State takes him to court
Supreme Court rules the bank is constitutional (elastic clause)

10. Death to the Bank Congress passes the charter renewal.
Jackson proclaims, “I will kill it”
He vetoed the bill

12. Death to the Bank continued
Congress cannot get 2/3 vote to override veto
Jackson wins the election and moves most of the funds to state banks
These banks lent this money to people buying land
That led to inflation…inflation is BAD

13. The Economy
Jackson is the only president to pay off the national debt.

14. It’s a political party, not a hair piece.
The Whigs
It’s a political party, not a hair piece.

15. Whig Party
Formed in 1834
believed Jackson was using his power like a king
wanted a weak president and strong Congress

17. Elected president in 1836—he is a Democrat
Martin Van Buren
Elected president in 1836—he is a Democrat

18. Panic of 1837 Economic depression due to Jackson’s policies
People blamed Van Buren
He runs for reelection in 1840.

19. Election of 1840
Whigs nominate William Henry Harrison and John Tyler

22. William Henry Harrison
Wins the election
Dies about a month after inauguration

23. John Tyler
Becomes president after Harrison’s death