1. Age of Jackson Day 2 King Andrew
American History I
SRMHS
Mr. Hensley

2. Review: Tariff of Abominations
In 1828, Congress passed a protective tariff designed to help Northern industry
It almost doubled the prices of British goods
Reduced British demand for Southern cotton
Rift between Calhoun and Jackson – Calhoun resigns in 1832

3. Nullification Doctrine
Many state politicians were resentful of the increasing power of the federal government
Calhoun believed states could nullify (ignore) federal laws they disagreed with
SC passes Nullification Ordinance to ignore Tariff (1832)

4. Nullification Crisis SC calls up militia; prepares for secession
Jackson gets permission from Congress to enforce the Tariff in SC (Force Bill passed in early 1833)
Jackson: “John Calhoun, if you secede from my nation I will secede your head from the rest of your body!”

5. Compromise and Aftermath
Senators (Clay, Webster) are working on a Compromise Tariff
This passes in 1833
SC stands down and repeals Nullification Ordinance – crisis over!
Nullifiers and states rights supporters start organizing opposition party

6. Pressures on Five Civilized Tribes
U.S. population nearly doubles between 1800 and 1840
People move further westward, seeking land
Five Civilized Tribes are assimilating – but not fast enough
1820’s: North Georgia and WNC Gold Rush

7. 1830: The Indian Removal Act
Jackson wants to resolve crisis by moving the Natives further west (to what is now OK)
Congress gives him the authority to trade western lands for current tribal territory
Today, we call this ethnic cleansing

8. Trail of Tears
Tribal leaders made deals that their people did not vote on (or agree with)
One Cherokee faction signs away all their lands for cash and land in West
Tribespeople that did not agree are forced to leave homes and march west
4,000 Cherokee die of illness/exposure on trip

9. The Bank Wars
Jackson and the Democrats oppose the National Bank – why?
Bank helps the wealthy
Bank under the control of someone (Biddle) who hates Jackson
Farmers versus former Federalists

10. The Pet Banks
Jackson vetoes the Second Bank recharter (but old charter good until 1836)
Pulls all U.S. deposits out (1833) and deposits them with state banks controlled by his friends and supporters
They become known as “Pet Banks”

11. The Fragility of Banking
Banks keep only about 10% (or less) of their deposits as reserves
Bank “runs” put banks out of business
If a bank goes bankrupt, all the money issued by that bank becomes worthless
Before the bank goes under, it will “call in” its loans

12. The Specie Circular and Panic
“Soft” money versus “hard” money
Inflation going up because of all the soft (paper) money
In 1836, Jackson requires that all federal lands be paid for with hard money (gold or silver only)
Deflation, unemployment and recession

13. Meet Martin Van Buren Jackson’s VP and Secretary of State
From New York
Jackson’s close friend and advisor
The Heir Apparent to Jackson in 1836
Follows Jackson’s example of grassroots campaigning

14. The Election of 1836
Whig strategy: run 4 different regional candidates (Harrison in West, Webster in North, etc.) in the hopes of denying Van Buren a majority
This would throw election to House
Van Buren wins

15. Jackson’s Legacy
First President that wasn’t a member of the educated, wealthy elites (“The Common Man”)
Spoils system and use of veto increased the power of the Presidency
His Bank Wars wrecked the economy
Trail of Tears