Random 1
Who is Nicholas Biddle?
He was the president of the bank, educated and experienced in finances, and not a fan of Jackson
What principle did Van Buren believe in?
The principle of laissez-faire that the gov't should interfere as little as possible in the nation's economy.
Who was Van Buren
He was a Democrat
He was the 8th president of the US and was Andrew Jackson's Vice President
What happened on the Inaguration day of 1841?
It was bitterly cold and Harrison instisted on delivering a long speech without a hat or coat. He died of pneumonia 32 days later.
What was the Webster-Ashburton Treaty?
It was a Treaty that settled a long dispute over the border between Maine and Canada and set a firm US-Canadian boundary from Maine to Minnesota.
Who managed the 2nd bank of America?
Private Bankers
Why did the Whigs plan of going against Van Buren fail?
Jackson's popularity and support helped Van Buren win both the popular votes and the electoral votes.
How long did the Democrats hold the White house?
12 years of pure Democrats being Presidents.
Who was the first vice president to become president because of the death of a president?
John Tyler
How many years did it take for the Whigs to run out of power?
4 years
What was the Whigs plan to beat Van Buren in the election?
They had three candidates and each had support in different parts of the nation. The Whigs hoped this tactic would keep Van Buren from getting a majority of the electoral votes. Then the election would be run by the House of Representatives which the Whigs controlled.
What did Van Buren pass that made people refer to it as a "second declaration of independence?"
He convinced Congress to pass an independent federal treasury meaning the gov't no longer had to deposit its money in private banks and now in the federal treasury instead.
What were some problems with the 2nd Bank of America?
1. Dependence by western settlers to borrow money for farm operations
2. Loan policies extremely difficult
3. Seen as favoring wealthy Easterners, limits on western growth
How did Harrison's death ruin Henry Clay and Daniel Webster's plan?
They planned to control the country behind the scenes as Whigs and control Harrison.
Why did the Whig party become very divided
They became very divided because of the issue of slavery
What were the effects of the Panic of 1837?
1. Land values dropped
2. Banks failed
3. Thousands of businesses closed and many workers lost their jobs
4. Farmers lost their land and people could not even afford food or rent.
Who were the Whigs?
A new party that consisted of former Republicans, and anti Jackson forces.
How did William Henry Harrison win the election against Van Buren?
He was a hero of the war of 1812 where he had his victory over Tecumseh's followers. The Whigs also portrayed Harrison as a simple frontiersman like Jackson when he was actually a wealthy Ohioan.
What did John Tyler do during his term as president?
He vetoed several bills sponsored by the Whigs in Congress (which outraged many Whigs)
He signed the Webster-Ashburton Treaty
What other president died in office after Harrison?
Zachary Taylor
What was the Panic of 1837?
The Panic of 1837 was when state banks were in chaos. Banknotes issued with little value and ultimately cause an economic depression because the gov't stopped accepting them as payment to purchase public land.
It caused loss of value in land and banks, business closures, unemployment rises, and the cost of living was too high
What was Webster's and Clay's plan to end Jackson's campaign?
First to Biddle to apply early for a charter (gov’t permit) before current one runs out. It would force Jackson to do something. If Jackson then vetoes the bank, he would lose support of the people (who support the bank).
How did Webster's and Clay's plan backfire on them?
Andrew Jackson vetoed the bank and declared it unconstitutional. This gains MORE support from the people instead of him losing support.
What was the last president that the Whigs elected?
Zachary Taylor
What party was created by many Whigs leaving their party?
The republican party