 Jackson’s objections  Organization of wealthy Easterners  Held fed $$  Controlled $$ supply  Run by private bankers  Vetoed charter renewal in.

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 Jackson’s objections  Organization of wealthy Easterners  Held fed $$  Controlled $$ supply  Run by private bankers  Vetoed charter renewal in 1832  Closed the bank in 1836

 Democrat (easy win)  Martin Van Buren (Jackson’s VP)  Whigs  3 different candidates from different “sections”  None got enough votes

 Economic DEPRESSION  Land values dropped  Banks failed  Investments dropped  Cotton prices dropped  Businesses closed

 Government should interfere as little as possible in the nation’s economy  Van Buren believed in laissez-faire

 Gov’t would store $$ in fed. treasury  Private banks couldn’t use gov. $$ anymore to back loans

 Democrats  Van Buren  Whigs (log cabin)  William Henry Harrison  First Whig president  Inauguration day – bitterly cold  Died of pneumonia 32 days later  VP John Tyler became president

 Vetoed several Whig bills  Party leaders expelled him  Whigs couldn’t seem to agree on party goals – party splits  1844 election = Democrat James Polk wins

 Read the visual summary on page 353  Do the review numbers 1-14 on page

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