1. The Age of Jackson

2. Era or Error of the Common Man First President not from a prominent colonial family – A self-made man – Political Participation did grow But common folk were still… common folk Power and Privilege still in hands of the few Jackson was – Short Tempered – Tough as Nails – And a good hater…

3. Divide of the Government Cabinet Rivalry – Divided administration Sec. of State – Martian Van Buren Vice President – John C Calhoun – Both men wanted to be Jacksons successor – Eaton Affair Peggy Eaton Floride Calhoun Closer to Van Buren

4. Nullification Nullification – where a state can declare a federal power null and void it if harms that state or violates the constitution – Stems from the belief states are sovereign powers – Force federal government to remove law or make constitutional amendment to justify law – Lead by John C. Calhoun of South Carolina SC suffering from agriculture depression, Protective Tariffs exacerbated situation

5. The Webster-Hayne Debate Debate of Nullification that sharpened lines between states rights (south) and a strong union (North) Began over issue regarding sale of western public land North wanted to restrict South wanted unrestricted – hoped to gain support from western territories over nullification – Robert Y. Hayne defended south Quickly turned to debate over states rights and nullification – Daniel Webster defended north “Liberty and Union now and forever on and inseparable” Nullification would weaken the union and lead to civil war President Jackson Agreed

6. Jackson v Calhoun Two Issues – Jackson publically state his opposition to states right and nullification – Jackson saw 1818 letter of Calhoun encouraging military discipline of Jackson for his episodes in Florida Widened rift with Calhoun Jackson removed all Calhoun supporters from his cabinet and replace with people loyal to him Jackson decided to run for second term, despite pledge not to… Martin Van Buren became new VP candidate Calhoun’s presidential ambitions derailed, became champion of states rights and nullification – stated the beat of the drum for civil war.

7. Clay’s Compromise Calhoun resigned as VP to defend Nullification on the senate floor South Carolina Ordinance – nullification that repudiated the federal tariff acts No other state supported Jackson pledge to uphold national law Sent troops and ships to South Carolina South Carolina mobilized militia Henry Clay’s Proposal – Reduce the national tariffs gradually until 1842 – Both side agreed and compromise became law

8. The Bank Controversy Bank of the United States – Ran by Nicholas Biddle – Supreme Court ruled it was constitutional – Most powerful lending institution in US – Forced state banks to keep gold or silver to back paper money – Regulated currency and national economic growth – Jackson hated Symbol of Wealth and Powerful Promoted National government Jackson vetoed its recharter, said it was unconstitutional despite what court and congress said

9. Election of 1832 Jackson saw reelection as a mandate in his banking views – With nullification defeated, Jackson freed to wage war on the bank – Jackson moved all government money from Bank of the US to 23 state banks (Called Pet Banks) loyal to him – Speculation Bloomed Lack of Public Credit lead to economic recession “Wildcat” banks bloomed, printed paper money without restraint Sale of public lands States became indebted to pet and wildcat banks

10. Fiscal Collapse Increase Currency = Increase Inflation Distribution Act – Government surplus would be given to states as loans – Deposited into pet and wildcat banks Specie Circular – Only gold or silver could be used to buy public lands – Few settlers could pay Both put state banks in plight Banks recalled loans to pay back government

11. Election of 1836 Jackson extremely popular – Defeated Nullification – Defeated the Bank of the US Economic Recession did not hurt Jackson reputation Whig party sprang up in opposition to Jackson’s policies – Three candidates: daniel Webster, Hugh Lawson White, and William Henry Harrison Democrats nominated (and Jackson handpicked) Martin Van Buren, who won an easy election

12. Panic of 1837 Van Buren inherited a financial panic – Bank Crisis and European Recession Collapsed economy – Bank and business when under – Inflation increased – Jackson’s mess Van Buren response – Did not feel governments obligation to bailout business or farmers – Independent Treasury Act – created us treasury that stored US money Occupied his presidency

13. The Whigs Traits – Conservative and Traditional – Wealthy and Protestant – New Englanders William Henry Harrison Presidential Candidate in 1840 – John Tyler of Virginia as VP Not a Whig, but a democrat Placed on ticket to win votes – No platform – did not want to divide party – Harrison won

14. The End