1. VAN BUREN PRESIDENCY

2. Whig Party Formed in 1834 to oppose Jackson, but Jackson never ran. Called themselves the Whigs after the English political Party that opposed the King and Queen They felt that Jackson was using his political power like a king Whig party favored a weak president and a strong Congress

3. Election of 1836 Whig Candidates Whigs nominated 4 candidates because they could not agree on one. Democratic Candidate Martin Van Buren Backed by Jackson Won the election easily

4. Panic of 1837 Severe economic depression caused by Jackson’s banking policies and his unsuccessful plan to curb inflation. Van Buren is blamed Only serve one term Whigs will support William Henry Harrison in 1840 election and he will beat Van Buren Effects of the Panic of 1837 8 states failed and went into bankruptcy International trade fell apart Federal government could not pay its bills