Lecture 25Outline of previous lectureI. DemocracyII. Political powerIII. Electiona. 1824b. 1828IV. Indian removal acta. Trail of tearsOutline of Current lectureI. Second bankII. Electionsa. 1832b. 1836c. 1840III. Whig vs. DemocratsUnspoken Issue “South’s peculiar institution”Second bank of the USPresident James MadisonFor 20 years 1816-1836Jackson: opposes the bank*The bank is a monsterThreatened the peoples libertyNicholas BiddlePresidency of the Bank in 1823EducatedIntelligentKnow it allPublic confidence in the bankPrevents depressionsArguments against the BankJeffersonian opposed itUnconstitutionalPower in hands of privilegedWealthy powerful peopleBiddles BlunderTo re-charter in 1836Sought it in 1832Congress passed itJackson:-bank was unconstitutionalRecall: MucCullock vs. MarylandJackson: Defending the common manJackson vetoed the charterAfter the BankDeposits transferred to state banks“pet banks”Jacksons pets (favorites)Increased supply of paper moneyElection of 1832Jackson reelectedDemocraticClay-runner upRepublicanKentuckyPolitical partiesDemocrats“common man”WhigsNational RepublicansNew England and upper MidwestBig southern plantersMoral reformConcerned with public moralityConcerned with people drinking too much alcoholWhig party in the southStates rights-objected to Jackson’s position on nullification“King Andrew”Martin Van Buren8th president1837-1841Election 1836Van Burned winsDemocraticHarrisonRunner upWhigMartin Van BurenPanic of 1836Global economic phenomenonWhigs: Jacksons policiesElection 1840Whig-Harrison wonWilliam Henry Harrison“Tippecanoe and Tyler too!”PostersHatsSongsWhig AgendaAmerican system 2.0Bank of United StatesRaise tariffsDistribute federal funs to statesInternal improvementsCommerceJobsHigh payingWith benefitsTwo-Party SystemsDemocratsWhigsHIST 105 1nd EditionLecture 25Outline of previous lecture I. Democracy II. Political power III. Election a. 1824b. 1828IV. Indian removal act a. Trail of tears Outline of Current lecture I. Second bankII. Elections a. 1832b. 1836c. 1840III. Whig vs. Democrats Unspoken Issue “South’s peculiar institution” Second bank of the US- President James Madison o For 20 years 1816-1836- Jackson: opposes the bank*o The bank is a monster o Threatened the peoples liberty These notes represent a detailed interpretation of the professor’s lecture. GradeBuddy is best used as a supplement to your own notes, not as a substitute. Nicholas Biddle- Presidency of the Bank in 1823- Educated - Intelligent o Know it all - Public confidence in the bank o Prevents depressions Arguments against the Bank - Jeffersonian opposed it - Unconstitutional - Power in hands of privileged o Wealthy powerful people Biddles Blunder - To re-charter in 1836 - Sought it in 1832- Congress passed it - Jackson:-bank was unconstitutional - Recall: MucCullock vs. Maryland - Jackson: Defending the common man - Jackson vetoed the charter After the Bank- Deposits transferred to state banks - “pet banks”o Jacksons pets (favorites)- Increased supply of paper money Election of 1832- Jackson reelected o Democratic - Clay-runner up o Republican o Kentucky Political parties - Democrats o “common man”- Whigs o National Republicans o New England and upper Midwest o Big southern planters o Moral reform Concerned with public morality Concerned with people drinking too much alcohol Whig party in the south - States rights-objected to Jackson’s position on nullification - “King Andrew” Martin Van Buren - 8th president - 1837-1841 Election 1836- Van Burned wins o Democratic - Harrison o Runner up Whig Martin Van Buren - Panic of 1836- Global economic phenomenon - Whigs: Jacksons policies Election 1840- Whig-Harrison won William Henry Harrison - “Tippecanoe and Tyler too!”- Posters - Hats - Songs Whig Agenda American system 2.0- Bank of United States - Raise tariffs - Distribute federal funs to states o Internal improvements o Commerce o Jobs High paying With benefits Two-Party Systems- Democrats - Whigs
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