Differences among political parties, geographic regions, and individual states played key roles in the presidency of Andrew Jackson. His handling of these differences had a major impact on government, the economy, and individual Americans. Arguments over tariffs, the Nullification Crisis, and a bank war created havoc in federal and state governments. These complex issues will raise interesting questions for you as you read. John Calhoun, Jackson’s own vice president, led the fight against tariffs and was a strong proponent of nullification.
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1. The differences among political parties, geographic regions, and individual states were crucial factors during Andrew Jackson's presidency.
2. The way Jackson handled these differences had a significant impact on government, the economy, and individual Americans.
3. Arguments over tariffs, the Nullification Crisis, and the bank war caused disruptions in both federal and state governments.
4. John Calhoun, Jackson's own vice president, played a prominent role in the fight against tariffs and was a strong supporter of nullification.
shorter
1. Political parties, regions, and states played important roles in Jackson's presidency.
2. How Jackson handled these differences impacted government, economy, and individuals.
3. Tariff disputes, Nullification Crisis, and the bank war caused havoc in governments.
4. Jackson's vice president, John Calhoun, led the fight against tariffs and advocated for nullification.
Now we’re going to look at the developing economic tug-of-war between northern manufacturing and southern agricultural states over the Bank of the United States. The Bank of the United States was first conceived by Secretary of the Treasury Alexander Hamilton as a way to pay off national debt and encourage economic growth.Hamilton’s plan made sense for the national economy, but was originally opposed by some southern lawmakers for giving too much power to the federal government. The charter on the First Bank of the United States ran out in 1811. In 1816, Henry Clay wanted to charter a Second Bank of the United States in order to lend money to American businesses and restore the nation’s money supply.Along with creating the bank, a protective tariff was passed on all goods imported from Europe. The money collected from the tariff was to be used for building roads, bridges, and canals to stimulate commerce. These actions helped the nation as a whole, but especially northern manufacturers who sold more of their goods. Many southerners disliked tariffs. With few factories, many southerners relied on cheap British-made goods, and money spent on road construction was seen as wasteful in a region that relied heavily on waterways to transport goods.As a westerner, Andrew Jackson opposed the Bank for many reasons. He particularly disliked the loaning practices of the Bank under its president, Nicholas Biddle, which he felt favored rich borrowers over farmers and smaller merchants. Jackson made no secret that he felt the Bank was too powerful, which alarmed Biddle and the Bank’s champions in Congress, Henry Clay and Daniel Webster.Though the Bank’s congressional charter was not due for renewal until 1836, Clay and Webster convinced Biddle to re-apply before the 1832 presidential election. Clay and Webster gambled that Jackson would veto the charter and hoped angry voters would not vote him back into office. Jackson did not hesitate. He vetoed the Bank bill, believing it favored the wealthy over farmers, mechanics, and laborers. The Whig party made the Bank bill a major issue in the 1832 election, choosing Henry Clay as their presidential candidate. The bill was very popular with northerners, and the Whigs were counting on a popular uprising against Jackson due to his veto of the Bank. The Whigs could not have been more wrong. Jackson won a stunning election victory. He was still a man of the people. Jackson took immediate steps to defund the Bank, redepositing money in “pet” banks controlled by his Secretary of the Treasury, Roger Taney. These action put the nation at risk. The loss of federal funds crippled the bank. It's closing contributed to a national economic crisis in 1836. The Whigs and Jackson both took strong stands on the Bank bill, which ended up hurting the country.
collect the key points out of this text
1. The Bank of the United States was initially opposed by some southern lawmakers for giving too much power to the federal government.
2. Henry Clay proposed chartering a Second Bank of the United States in 1816 to lend money to American businesses.
3. A protective tariff was passed on European imports to fund infrastructure development and stimulate commerce, benefiting northern manufacturers.
4. Andrew Jackson, a westerner, opposed the bank due to its loaning practices and concentration of power.
5. Jackson vetoed the Bank bill in 1832, believing it favored the wealthy over farmers, mechanics, and laborers.
6. The Whigs made the Bank bill a major issue in the 1832 election, but Jackson won a landslide victory.
7. Jackson defunded the Bank and redistributed the funds to state-controlled banks, leading to a national economic crisis in 1836.
8. Both the Whigs and Jackson took strong stands on the Bank bill, but their actions ultimately harmed the country.