Jackson Era Part 2 Chapter 7 Section 5

Evaluate the significance of the debate over tariffs and the idea of nullification. Summarize the key events of the conflict over the second Bank of the United States in the 1830s. Analyze the political environment in the United States after Andrew Jackson. Objectives

Dispute Over Tariffs In 1828, Congress passed a high protective tariff. The goal was to promote industry, but the tariff raised the prices farmers had to pay for goods. Southerners called it the Tariff of Abominations.Tariff of Abominations

Nullification Crisis Vice-President John Calhoun argued that the Federal government wouldn’t exist without the states, so the states could nullify an act of Congress..

Resolution Andrew Jackson agreed to gradually lower the tariff. South Carolina didn’t secede Crisis averted, for now….

His ideal was an agrarian republic in which almost all white men owned farms and enjoyed a rough equality. Industrialization and the growing class of wage earning factory workers made his ideal unrealistic. The expanding gap between rich factory owners and poor workers became troubling to many Americans. Despite his opposition to nullification, Jackson generally supported the agricultural South.

Battle for the Bank Felt the second Bank symbolized “money power.” Believed the new business economy encouraged corruption. Opposed policies they felt enriched business at the expense of farmers and workers. Believed the second Bank was necessary to maintain a stable supply of currency. Jacksonian Democrats Business Leaders

In 1832, Congress voted to renew the Bank’s charter. Jackson vetoed the charter renewal. The “Bank War” strengthened Jackson’s popularity with ordinary Americans and helped him win reelection in This cartoon shows Jackson using a veto to slay a monster representing the Bank and its supporters.

Whig Party The Whigs were formed by opponents of Andrew Jackson. Whigs favored a strong federal government, broad interpretation of the Constitution, protective tariffs, internal improvements, and moral reform.

Election of 1836 Martin Van Buren of New York, Jackson’s handpicked successor, won the election of Jackson’s policies left Van Buren with a financial mess No National Bank led to rising inflation and a depression.

Panic of 1837 The government stopped accepting paper money for land purchases, leading to a sudden drop in land values. People lost their homes and went bankrupt.

Election of 1840 Panic of 1837 hurt Van Buren’s popularity. War hero William Henry Harrison won the election easily.

John Tyler Harrison died 30 days after his inauguration. His VP John Tyler took over. Tyler rejected Whig policies.