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CPUSH unit 5 PP 2

CPUSH unit 5 PP 2. 7.4 and 8.1 Jackson and the BUS First Unions. B.U.S. (Bank of the United States). Clay and Webster try to renew the BUS charter Jackson is suspicious of the BUS, sees it as a threat to democracy b/c of its influence and its loans to “corrupt” politicians

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CPUSH unit 5 PP 2

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  1. CPUSH unit 5PP 2 7.4 and 8.1 Jackson and the BUS First Unions

  2. B.U.S. (Bank of the United States) • Clay and Webster try to renew the BUS charter • Jackson is suspicious of the BUS, sees it as a 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.

  3. 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!!)

  4. Jackson v. The BUS and Nicholas Biddle

  5. 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

  6. SHIFT FROM RURAL TO URBAN MANUFACTURING • Weaving factories end the “putting-out system” of the “cottage-industry” or production in homes • Decline of hand-produced goods • Unskilled laborers replaces skilled laborers (masters, journeymen, and apprentices) • Factory products become cheaper, more available • Changes split families & traditional Communities

  7. Lowell, Massachusetts:Birthplace of American Industry • 1828: Women are 90% of the mill workforce • Mill owners use women b/c they are paid less • “Mill Girls” are primarily unmarried girls, supervised closely by female supervisors • Opportunity to earn money and leave the farm

  8. STRIKES AT LOWELL • Worked 12 hour day, 6 days a week • Poor wages, poor ventilation, poor conditions • 1834: Mill workers strike over a pay cut; it fails • 1836: Second strike over new pay cuts; it also fails. • 1844: Mill workers form Lowell Female Labor reform Association & petition state legislature. HISTORICAL SIGNIFICANCE: Women begin to organize for political and social change.

  9. Workers Seek Better Conditions • 1835: Nations first general strike in Philly (=a strike by skilled and unskilled workers) • Began by coal workers • Employers use “strikebreakers” to crush strikes, using poor immigrants • By 1840’s new immigrants are organizing their own strikes: • Irish Dockworkers strike in NY in 1840’s • Ladies Industrial Association, NY in 1845

  10. National Trades’ Union Workers, or journeymen, begin to organize collectively, rather than by specific trades  more bargaining power. • 1834: Journeymen from several industries organize the National Trades’ Union. • Courts declare the Unions illegal. • 1842: Mass. Supreme Court affirms worker’s rights in Commonwealth v. Hunt. • 1860: only 5,000 workers are unionized, though 20,000 participate in strikes

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