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Ch. 7, Sect. 4 Jackson, States’ Rights, and the National Bank

Ch. 7, Sect. 4 Jackson, States’ Rights, and the National Bank. HW: 9.1. “Tariff of Abominations of 1828”. Tariff raised from 23%-37%. WHY DOES THE SOUTH OPPOSE TARIFFS ? Higher Tariffs  Fewer Imports from Britain  Britain makes less $  Britain buying less cotton from South

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Ch. 7, Sect. 4 Jackson, States’ Rights, and the National Bank

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  1. Ch. 7, Sect. 4Jackson, States’ Rights, and the National Bank HW: 9.1

  2. “Tariff of Abominations of 1828” • Tariff raised from 23%-37%. • WHY DOES THE SOUTH OPPOSE TARIFFS? Higher Tariffs  Fewer Imports from Britain  Britain makes less $  Britain buying less cotton from South keeps prices of manufactured goods artificially high

  3. “Tariff of Abominations of 1828” • Tariff seen as an encroachment on states’ rights, esp. in South Carolina • Calhoun’s “South Carolina Exposition and Protest” calls for nullification (1:53), which also implied power of a state to secede from the Union • Leads to debate in Senate between Webster and Hayne over the nature of the Union

  4. Daniel Webster Massachusetts Robert Hayne South Carolina Liberty and Union, now and forever, one and inseparable."

  5. Growing Sectionalism • Calhoun leaves Vice-Pres. & becomes defender of sectionalism, embittered against Jackson & nationalism • Took Hayne’s seat in Senate and he ran for governor of South Carolina • Webster-Hayne debates  outlines future split b/w North & South, b/w Secessionists & Unionists • 1832: South Carolina declares Tariffs of 1828 and 1832 “null”- threatens to secede

  6. South Carolina Rebels • 1832 Tariff slightly reduced tariff of 1828 • SC Declared the tariff Null and Void • SC Threaten to secede Jackson was furious • Force Bill (1833)- Pres. Jackson authorized to use military to enforce the Tariff • Henry Clay • The Great Compromiser • The compromise is to gradually reduce the tariff over several years • War was avoided, well at least for a few years • SC. Nullifies the Force Bill (Spite!!!)

  7. B.U.S. (Bank of the United States) • Clay and Webster try to renew the BUS charter early • Jackson is suspicious of the BUS • threat to democracy b/c of its influence and its loans to “corrupt” politicians • Jackson rouses anger of the people against BUS and its President Nicholas Biddle • Bank loses charter, eventually goes out of business. HISTORICAL CONSEQUENCES: 1. Banking shifts from Philly to NYC and smaller banks 2. Clay and Webster create a new political party, the Whigs, to oppose Jackson and the Democrats.

  8. Jackson and the National Bank • Jackson opposed the National Bank • Personal problems (corrupt politicians, Biddle) • Saw the bank as a symbol of Northern wealth and power • “Common Man” • Pet Banks • Formation of “Whig” Party • Jackson viewed as a king (Veto!!)

  9. Jackson v. The BUS and Nicholas Biddle

  10. Jackson “anoints” Martin Van Buren to become President after him and to lead the Democratic Party. PANIC OF 1837: Causes and Effects What is history’s verdict of Van Buren? How much of the Panic of 1837 was his fault? Unemployment & Recession Fed $ put in Wildcat Banks Specie Circular 1836 “run” on Bank Notes Banks stop accepting paper $ Bank closings

  11. How would you evaluate Andrew Jackson’s presidency? • GOOD: • BAD: • “UGLY:”

  12. William Henry Harrison Whig Party Candidate 1840 http://www.usconstitution.com/williamhenryharrison_campaignposter.jpg

  13. Jackson’s Legacy • VP Martin van Buren becomes President • Won election with Jackson's support • Bank Problems • “Pet Banks” become “Wildcat banks” • Panic of 1837 • William Henry Harrison • Whig Party • Defeated van Buren

  14. http://www.columbia.edu/itc/history/foner/jacksonian_america/week6-pols_and_social_issues/election_1840.jpghttp://www.columbia.edu/itc/history/foner/jacksonian_america/week6-pols_and_social_issues/election_1840.jpg

  15. The Whigs and the Democrats:Two-Party System Re-emerges, pp. 218-219

  16. Election of 1840Van Buren (Dem) vs. Harrison (Whigs) Whigs steal Jackson’s political strategy: Run an old war hero as a “man of the people” = William Henry Harrison, Gov. of Indiana and “Hero” of Tippecanoe IRONY= Harrison was the aristocrat, Van Buren had grown up in poverty. Harrison wins, then dies after 4 weeks in office.

  17. Tyler: A President without a Party 1841: Tyler assumes Presidency after Harrison’s death Tyler turns out to be more of a Democrat than a Whig! Clay and Whigs clash with Tyler over creating BUS (Bank of the United States) and then Tyler threatens to veto Tariff increases.

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