Title: The Bank War and its Effects
1The Bank War and its Effects
2I) Jackson disliked the national bank
3I) Jackson disliked the national bank
- A) The US owned 1/5 of the bank, and kept all its
money there
4I) Jackson disliked the national bank
- A) The US owned 1/5 of the bank, and kept all its
money there - B) Jackson felt that the bank only benefited the
wealthy
5I) Jackson disliked the national bank
- A) The US owned 1/5 of the bank, and kept all its
money there - B) Jackson felt that the bank only benefited the
wealthy - 1) Nicholas Biddle, bank pres., would not accept
the bank notes of small western banks, making it
difficult for farmers to borrow money for land
6I) Jackson disliked the national bank
- A) The US owned 1/5 of the bank, and kept all its
money there - B) Jackson felt that the bank only benefited the
wealthy - 1) Nicholas Biddle, bank pres., would not accept
the bank notes of small western banks, making it
difficult for farmers to borrow money for land - 2) Jackson accused Biddle of trying to keep
wealth in the hands of the few (refused to renew
their charter in 1836)
7C) Henry Clay had a plan to have the charter
renewed
8C) Henry Clay had a plan to have the charter
renewed
- 1) Ask for renewal prior to the 1832 election,
forcing Jackson to make a decision
9C) Henry Clay had a plan to have the charter
renewed
- Ask for renewal prior to the 1832 election,
forcing Jackson to make a decision - a) Renews the charter gt angers the west and south
10C) Henry Clay had a plan to have the charter
renewed
- Ask for renewal prior to the 1832 election,
forcing Jackson to make a decision - Renews the charter gt angers the west and south
- Veto charter gt anger the northeast
11C) Henry Clay had a plan to have the charter
renewed
- Ask for renewal prior to the 1832 election,
forcing Jackson to make a decision - Renews the charter gt angers the west and south
- Veto charter gt anger the northeast
- Either way he would lose votes in the election
12C) Henry Clay had a plan to have the charter
renewed
- Ask for renewal prior to the 1832 election,
forcing Jackson to make a decision - Renews the charter gt angers the west and south
- Veto charter gt anger the northeast
- Either way he would lose votes in the election
- The plan failed b/c the Northeast did not care,
Jackson won re-election in 1832
13II) The Rise of the Whig Party
14A) The Bank War leads to the Whigs
15A) The Bank War leads to the Whigs
- 1) The old National Republican Party (J.Q. Adams)
joined with the bankers, unhappy democrats, and
states right supporters
16A) The Bank War leads to the Whigs
- 1) The old National Republican Party (J.Q. Adams)
joined with the bankers, unhappy democrats, and
states right supporters - 2) The Whigs did not have much power and lost the
1836 election to Martin Van Buren
17B) In 1837, the country slipped into a horrible
economic depression
18B) In 1837, the country slipped into a horrible
economic depression
- 1) The Panic of 1837 would be blamed upon Van
Buren
19B) In 1837, the country slipped into a horrible
economic depression
- 1) The Panic of 1837 would be blamed upon Van
Buren - 2) In fact, the depression should have been
blamed on Jackson
20B) In 1837, the country slipped into a horrible
economic depression
- 1) The Panic of 1837 would be blamed upon Van
Buren - 2) In fact, the depression should have been
blamed on Jackson - 3) His bank policies caused the panic
21C) The Whigs in 1840 Election
22C) The Whigs in 1840 Election
- 1) Use depression to their advantage, Martin Van
Ruin
23C) The Whigs in 1840 Election
- 1) Use depression to their advantage, Martin Van
Ruin - 2) Whigs would nominate William Henry Harrison of
Ohio (gen.at Tippecanoe, and comes from a poor
family)
24C) The Whigs in 1840 Election
- 1) Use depression to their advantage, Martin Van
Ruin - 2) Whigs would nominate William Henry Harrison of
Ohio (gen.at Tippecanoe, and comes from a poor
family) - 3) Campaign full of mud-slinging
25C) The Whigs in 1840 Election
- 1) Use depression to their advantage, Martin Van
Ruin - 2) Whigs would nominate William Henry Harrison of
Ohio (gen.at Tippecanoe, and comes from a poor
family) - 3) Campaign full of mud-slinging
- a) Dems say Harrison Should sit in his cabin and
drink cider
26C) The Whigs in 1840 Election
- 1) Use depression to their advantage, Martin Van
Ruin - 2) Whigs would nominate William Henry Harrison of
Ohio (gen.at Tippecanoe, and comes from a poor
family) - 3) Campaign full of mud-slinging
- a) Dems say Harrison Should sit in his cabin and
drink cider - b) Whigs use this and label their campaign as the
log cabin campaign
27C) The Whigs in 1840 Election
- c) Whigs use the slogan Tippecanoe and Tyler
Too! - 1) John Tyler is the VP candidate
28D) Whigs Win the 1840 Election
29D) Whigs Win the 1840 Election
- 1) Harrison dies of pneumonia a month later, and
Tyler becomes president
30D) Whigs Win the 1840 Election
- 1) Harrison dies of pneumonia a month later, and
Tyler becomes president - 2) First time VP had become president
31D) Whigs Win the 1840 Election
- 1) Harrison dies of pneumonia a month later, and
Tyler becomes president - 2) First time VP had become president
- 3) However, Tyler was a democrat at heart, and
did not pass Whig plans
32D) Whigs Win the 1840 Election
- 1) Harrison dies of pneumonia a month later, and
Tyler becomes president - 2) First time VP had become president
- 3) However, Tyler was a democrat at heart, and
did not pass Whig plans - 4) Whigs throw him out of the party, and will run
someone else in the 1844 election