ANDREW JACKSON 1767 - 1845. THE ANDREW JACKSON ERA 1830 - 1850.
Jackson, the Tariff, and the Bank Chapter 11-3. President Andrew Jackson.
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Transcript of Jackson, the Tariff, and the Bank Chapter 11-3. President Andrew Jackson.
Jackson, the Tariff, and the Bank
Chapter 11-3
President Andrew Jackson
Growing Problems between the North and South Tariff- a fee paid by merchants who
imported goods Tariff of 1828 (or the Tariff of
Abominations)- placed a very high tax on manufactured goods from Europe
Tariff of 1828 was HATED by Southerners- but loved by Northerners
Tariff of 1832
In 1832, Congress decided to reduce the tariff to please the South
However, Southerners still believed the tax was too high
Southern states threatened to secede in the name of states’ rights if the tariffs were not removed
Nullification Crisis
Nullify- to cancel or reject In 1832, SC passed the Nullification Act-
state has the right to nullify a federal law it considers unconstitutional
South Carolina leaders (including VP John Calhoun) threatened secession, or withdrawal from the Union, if the federal government tried to collect the tariff
Vice President John Calhoun of SC
Compromise Tariff Passed
1833- Henry Clay proposes a compromise tariff
The compromise ended the Nullification Crisis
The Great Compromiser- Henry Clay
Jackson’s War on the Bank
Nicholas Biddle was the president of the Second Bank of the US
Jackson dislike the bank because he felt it favored the rich
Jackson vowed to destroy the bank- but supporters of the bank vowed to destroy Jackson’s political career
The Second Bank of the US
Bank President- Nicholas Biddle
Jackson’s Veto 1832- Biddle applies four years early to
renew the bank’s charter Jackson vetoes the charter- the bank will
die in 1836 when the original charter was set to expire
Election of 1832- supporters of the bank believed Americans would be angry about Jackson’s veto and refuse to vote for him
Plan didn’t work- Jackson was reelected anyway, and the bank was gone by 1836
Election of 1836 and Panic of 1837
Jackson did not run for a 3rd term- so his VP, Martin Van Buren was elected pres
When Van Buren was elected, the country was entering a depression- or a severe economic slump- because Jackson had killed the Second Bank of the US
Called the Panic of 1837- Van Buren was blamed
President Martin Van Buren
Election of 1840 Because of the Panic of 1837, it was
impossible for Van Buren to get reelected Whig Party- chose William Henry Harrison
to run for president and John Tyler for VP “Tippecanoe and Tyler Too” Harrison won- caught pneumonia and
became the 1st pres. to die in office- was president for 1 month
Tyler becomes the 10th president
President William Henry Harrison
President John Tyler