Jacksonian Democracy at Flood Tide.ppt by suchufp

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									The Rise of a Mass
   Democracy
    1830 - 1840
             Jackson & the Bank
• Distrusted monopolistic banking (BUS)
• BUS chartered had to be renewed 1836
   – Clay tried to renew charter in Senate in 1834
• Clay’s plan
   – Get recharter bill through congress & send it to Jackson
      • Signs it – alienated west
      • Veto it – alienated wealthy & influential groups in the East
          – (“best people” were only a minority now)
    Jackson’s Response to Clay
• Bank vetoed by Jackson
   – Supreme Court had already ruled bank was
     constitutional (McCulloch v. Maryland (1819)
   – Jackson acted as though he regarded the executive
     branch as superior to the judicial branch
• Viewed bank as anti-western & anti-American
   – Many stockholders were foreign
• Amplified the power of the veto
   – Vetoed because he personally believed
     it was harmful to the nation
                           BUS
• Anti-western                 • Financial sound
   – strong hostility to the     organization
     “wildcat banks” that
                                 – Reduced bank failures
     provided financial fuel
     for western expansion       – Issued sound bank notes
• Nicholas Biddle – Pres.        – Made credit & currency
                                   reasonably abundant
   – lent funds where they
                                 – Safe depository for
     would make influential
                                   gov’t funds
     friends
              Election of 1832
• Clay – National Republican
• Jackson – Democratic
• First 3rd Party: Anti-Masonic Party
   – William Wirt
   – Opposed the fearsome secrecy of the Masonic order
   – Political support in New York & spread to middle
     Atlantic & New England states
   – Jackson was a Mason/ Anti-Jackson Party
   – Support from evangelical Protestant groups seeking to
     use political power to effect moral & religious reforms
                 Election conti.
• National nominating conventions to name
  candidates
• Platforms adopted by Anti-Masons & National
  Republicans
  – Publicizing their positions on the issues
• Clay had financial support from BUS & Jackson
  haters/ wealthy & elite
• Jackson won easily (219 – 49)
  – Poor easily outnumbered the rich
                 Biddle’s Bank
• Jackson decided to weaken the bank
   – Removed federal deposits
      • No new deposits & gradually shrink existing deposits
   – Goal – bleed the bank dry & ensure its demise when
     its charter expired in 4 years
• Federal deposits placed in state banks “pet
  banks”
• “Biddle’s Panic” – called in loans hoping to force
  a reconsideration of the charter by Congress
      Death of the Bank - 1836
• Jackson authorized the treasury to issue a Specie
  Circular
   – A decree that required all public lands to be purchased
     with “hard” money
• Brought hard times & hard feelings for the West
             Political Parties
• 1828 –Democratic-Republicans of Jackson
  became known as the Democrats
• Jackson’s opponents – Whigs
  – Name chosen to show opposition to the monarchy
               Birth of the Whigs
• First emerged in the Senate (1834)
   – Clay & Calhoun tried to censure Jackson for his removal
     of federal deposits from the BUS
   – Attracted groups alienated by Jackson
      • Supporters’ of Clay’s American System
      • Southern states’ righters offended by Jackson’s
        stand on nullification
      • Larger northern industrialists & merchants
      • Evangelical Protestants associated with the Anti-Masonic Party
   Presidential Election of 1836
• Strategy for Whig party
   – Run several prominent “favorite sons” & scatter the
     vote so that no candidate get a majority of the votes
   – Whigs might have a chance in the House of Rep
   – Leading “favorite son” was William Henry Harrison
• Democrat – Martin Van Buren
   – Hand picked by Jackson
• Democrats win
        Problems for Van Buren
• Served one term & inherited Jackson’s enemies
• Problems during his term
   –   Rebellion in Canada (1837) threatened a war with GB
   –   Slavery & the Texas annexation
   –   Panic of 1837
   –   Divorce Bill
              Lone Star State
• Texas – owned by Spain
  (Florida Purchase Treaty of 1819)
• Mexicans won their independence
• 1823 – Mexico granted Stephen Austin huge tract
  of land
   – Bring 300 American families
   – Roman Catholic faith
   – Mexicanize the people
                       Texas
• Stipulations ignored
• Settlers remained American at heart
   – annoyed by the presence of Mexican soldiers
• 1835 – population - 30,000
• Davy Crockett, James Bowie, Sam Houston
• Problems resulted over the issue of slavery
   – Mexico had outlawed slavery in 1830
   – Texans wanted to keep their slaves
          Remember the Alamo
• 1835 – Santa Anna wiped out local rights
  & raised an army to suppress Texans
• 1836 – Texans declared their independence
   – Sam Houston – leader
   – Santa Anna with 6000 men head for Texas
• Alamo – San Antonio
   – 13 day siege/ 200 Texans – 6000 Mexicans
   – Commander – Colonel W.B. Travis
   – Texans were defeated but Mexico had heavy loses
                  Santa Anna
• Goliad
  – American volunteers defeated by 4000 Mexicans
• April 21, 1836 - General Sam Houston
  – Wiped out invading force & captured Santa Anna near
    San Jacinto
  – Santa Anna signed treaties
     • Recognized Rio Grande as the southwestern
       boundary of Texas
     • Withdrawal of Mexican troops
  – Later went against treaties
                         Texas
• Federal gov’t should have helped Mexico
   – American helped out the Texans
• Jackson was torn
   – Admired the Texans
   – To recognize independence of Texas
     would touch off slavery issue
• 1837 - Jackson recognized
  independence on the day he left office
   – Annexation petition // slavery issue
             Jacksonian Legacy
• Bolstered the power of the   • Encouraged the spoil
  executive branch               system
• Signaled a coming-of-age     • Deprived the nation of a
  of the West                    sound central bank (BUS)
• Led the common people           – Thousands of bank failures
  into national politics            resulted

• United them into the
  powerful & long lived
  Democratic Party
• Proved they could be
  trusted with the vote
                  Panic of 1837
• Causes
  –   rampant speculation
  –   “Bank War” & Specie Circular
  –   Failures of wheat crops
  –   Failure of 2 prominent British banks – called in foreign
      loans
                      Panic cont.
• Results
  –   American banks collapsed by the hundreds/ “pet banks”
  –   Commodity prices dropped
  –   Sale of public lands fell off
  –   Customs revenues dried up
  –   Factories closed & workers lost jobs
            Help for the Panic
• Whigs suggested
  – Expansion of bank credit
  – Higher tariffs
  – Subsidies for internal improvements
• Van Buren’s answer: “Divorce Bill”
  – Gov’t should divorce from banking altogether
     • Create an independent treasury
  – Never a popular idea
             Election of 1840
• Martin Van Buren (D)
• William Henry Harrison (W) – “Old Tippecanoe”
  – Issueless & enemyless / /John Tyler – VP running mate
• Whigs
  – Benefited from economical problems // No platform
• Democrats insulted the West
  – Harrison – impoverished old farmer (not true)
• Harrison wins “Tippecanoe & Tyler Too”
• 1st massive voter turnout
                Political Parties
• Democrats                  • Whigs
• State’s rights & federal   • Favored a renewed
  restraint in social &        national bank, protective
  economic affairs             tariffs, internal
• Glorified rights of the      improvements, public
  individual                   schools & moral reforms –
                               prohibition & slavery
• On guard against
  “privilege” in gov’t    • Value of community
                          • Disliked leaders whose
                            appeals to self-interest
                            caused conflict
     Both commanded loyalties of all kinds of
           Americans; all social classes

								
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