Balancing Nationalism and Sectionalism 7.4 States’ Rights and the National Bank

7.4 – States Rights and the National Bank Main Idea Essential Question What were the issues and legacies of Jackson’s Presidency? What

Identify issues and legacies left by the Jackson administration Objectives Compare the differing opinions of supporters of Federal and State power over the issue of tariffs Analyze political cartoon King Andrew I, which displays concern over Jackson’s use of power Identify issues and legacies left by the Jackson administration

“When my eyes shall be turned to behold for the last time the sun in heaven, may I not see him shining on the broken and dishonored fragments of a once glorious union… Let their last feeble and lingering glance rather behold the glorious ensign of the republic. Liberty and Union, now and forever, one and inseparable!” Daniel Webster (1828) Quote of the Day

King Andrew the 1st

Tariff Raises States’ Rights Issues Jackson used prestige and publicity of the Presidency to increase his influence over government John C. Calhoun – Tariff of Abominations – Robert Hayne and Webster debate states’ rights vs. federal government. Hayne saw federal government as oppressive, Webster saw Southern states as rebellious. No obvious middle ground is discovered Daniel Webster –

Federal Powers v. States’ Rights Webster Calhoun Federal Powers v. States’ Rights

South Carolina Rebels South Carolina challenges Supremacy Clause in the Constitution by nullifying the tariffs of 1828 and 1832 Jackson threatened to hang Calhoun, enforce tariffs with military. Considered South Carolina’s actions treasonous The Force Act of 1833 – South Carolina Tariff Resolution –

Jackson Attacks the National Bank Jackson vetoed bill to recharter Bank of the United States in 1832 Jackson claims stockholders hit jackpot and American people were cheated. Used the fact that bank was owned 4/5th by private investors as evidence. Used political skill to paint Bank as run by greedy elites Nicolas Biddle – Pet Banks – Whig Party –

Why did Jackson oppose the National Bank?

Van Buren Deals with Jackson’s Legacy Specie Circular – Triggers Panic of 1837 because banks can’t keep up with requests from gold and silver Martin Van Buren – Encouraged passage of Independent Treasury Act, which safeguarded US currency by depositing it in federal safety vaults, and away from Pet Banks Panic of 1837 – Many of Jackson’s pet banks begin to print bank notes in excess of the gold and silver on deposit, causing rapid inflation

What caused the Panic of 1837?

Rise of the Whigs Election of 1840 is a bruising affair, where Van Buren is labeled as an aristocrat out of touch with the American people, and Harrison is labeled as a poor man’s copy of Andrew Jackson Harrison wins because economy is still bad, and Van Buren is blamed William Henry Harrison – Whig party is eager to push federal programs despite death of Harrison, but Tyler proved to be hard to manipulate. He dismisses members of Harrison’s cabinet that sought to control him, and refused to recharter National Bank John Tyler -

Jackson’s Presidency Issues