Jackson’s Successors Chapter 11 Section 4

Martin Van Buren, Jackson’s Vice President, took the office of president in 1837

An Economic Crisis Martin Van Buren was very different from Jackson ◦ Politician not a war hero Panic of 1837; the worst economic crisis the nation had known ◦ 2 months after Van Buren took office

The Panic Begins The panic had several causes ◦ During the 1830’s government sold millions of acres of public land in the West  Farmers bought some but speculators but even more  Speculators borrowed money from state banks  When the bank of the U.S. closed state banks could lend money without limits

The panic begins State banks began printing more paper money ◦ Often not backed by gold and silver  Only had value if people had trust in the banks that issued it Before leaving office Jackson ordered anyone buying public land had to pay for it in gold or silver ◦ Many banks did not have enough gold and silver and had to close

Banks Fail Panic spread ◦ More and more people hurried to banks to cash in their paper money for gold or silver  Hundred of banks failed  Leaving depositors empty handed

Tough Times In the worst days of the depression 90% of the factories closed ◦ Thousands of people were out of work Hungry crowds broke into warehouses and stole food

Van Buren’s response The panic was not Van Buren’s fault but he was blamed ◦ He took little action He tried to set a more sable banking system He cut back on expenses in the white house

The hero of Tippecanoe Whigs chose a candidate that would appeal to the common people, William Henry Harrison of Ohio ◦ Known as the hero of Tippecanoe Whigs chose John Taylor to run for Vice President

The Log cabin Campaign Harrison’s campaign reflected a new sort of politics ◦ Politicians made speeches ◦ Campaigned art rallies and banquets ◦ Competed for votes by offering exciting entertainment

A war hero and a man of the people American’s knew little about Harrison’s stand on the issues To appeal to voters the Whigs focused on his war record Created a “man of the people image” ◦ Humble Ohio farmer who was born in a log cabin In fact Harrison was wealthy, educated man from Virginia whose family owned a large estate

Attacks on Van Buren blamed Van Buren for the economic depression Both parties used name calling half truths and lies ◦ newspapers reported the Van Buren spent thousands of the people’s money to install a bathtub in the White House

On the campaign trail Harrison campaigned across the land making speeches and greeting voters Whigs built a log cabin to use as their headquarters ◦ Even set up log cabins in cities like New York ◦ Parades featured log cabins on wagons ◦ Whigs served plenty of free cider at stops

“keep the ball rolling” In town across the U.S. Harrison supporters rolled huge balls down the streets ◦ Made of twine and covered in slogans Sold campaign souvenirs Offered badges, handkerchiefs, and shaving cream with Tippecanoe slogan

“keep the ball rolling” Bottle shaped like a log cabin Women could not vote but they campaigned for Harrison Wrote pamphlets, sewed banners, rode on floats, and parade with brooms to sweep Democrats out of office

A Whig victory at last Democrats responded to Whigs with their own name calling ◦ Harrison had resigned from the army before the war of 1812 ended ◦ Accused him of not speaking in the issues Harrison won the election easily ◦ Forced Democrats out of the White House for the first time in 12 years

Whigs in the White House Whigs wanted to create a new Bank of the United States and improve roads and canals Just weeks after taking office Harrison died of pneumonia John Tyler became President

Whigs in the White House Tyler disappointed the Whigs When the Whigs passed a bill in Congress to recharter the Bank of the United States Tyler vetoed it ◦ In response Tyler’s entire cabinet resigned, except Daniel Webster ◦ Whigs threw Tyler out of the party ◦ Democrats welcomed Tyler ◦ With few friends in either party Tyler could do little during his term in office