Chapter 19: Drifting Toward Disunion OUTLINE
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Dred Scott</Em> Decision
Chicago-Kent Law Review Volume 82 Issue 1 Symposium: 150th Anniversary of the Article 13 Dred Scott Decision December 2006 Stay East, Young Man? Market Repercussions of the Dred Scott Decision Jenny B. Wahl Follow this and additional works at: https://scholarship.kentlaw.iit.edu/cklawreview Part of the Law Commons Recommended Citation Jenny B. Wahl, Stay East, Young Man? Market Repercussions of the Dred Scott Decision, 82 Chi.-Kent L. Rev. 361 (2007). Available at: https://scholarship.kentlaw.iit.edu/cklawreview/vol82/iss1/13 This Article is brought to you for free and open access by Scholarly Commons @ IIT Chicago-Kent College of Law. It has been accepted for inclusion in Chicago-Kent Law Review by an authorized editor of Scholarly Commons @ IIT Chicago-Kent College of Law. For more information, please contact [email protected], [email protected]. STAY EAST, YOUNG MAN? MARKET REPERCUSSIONS OF THE DRED SCOTT DECISION JENNY B. WAHL* [I]t is the opinion of the court that the act of Congress which prohibited a citizen from holding and owning property of this kind in the territory of the United States north of the line therein mentioned, is not warranted by the Constitution, and is therefore void .... Dred Scott v. Sandford' INTRODUCTION With a single sentence, U.S. Supreme Court Chief Justice Roger Taney affirmed the value of one type of property-slaves-and undercut the value of another-western land. Uncertainty about land markets suf- fused the economy in family decisions about whether and where to migrate, in the transportation sector (particularly railroads), in financial markets, and in politics. -
The Coming Crisis, the 1850S 8Th Edition
The Coming Crisis the 1850s I. American Communities A. Illinois Communities Debate Slavery 1. Lincoln-Douglas Debates II. America in 1850 A. Expansion and Growth 1. Territory 2. Population 3. South’s decline B. Politics, Culture, and National Identity 1. “American Renaissance” 2. Nathaniel Hawthorne a. The Scarlet Letter (1850) 3. Herman Melville a. Moby Dick (1851) 4. Harriet Beecher Stowe a. Uncle Tom’s Cabin (1851) III. Cracks in National Unity A. The Compromise of 1850 B. Political Parties Split over Slavery 1. Mexican War’s impact a. Slavery in the territories? 2. Second American Party System a. Whigs & Democrats b. Sectional division C. Congressional Divisions 1. Underlying issues 2. States’ Rights & Slavery a. John C. Calhoun b. States’ rights: nullification c. U.S. Constitution & slavery 3. Northern Fears of “The Slave Power” a. Sectional balance: slave v. free D. Two Communities, Two Perspectives 1. Territorial expansion & slavery 2. Basic rights & liberties 3. Sectional stereotypes E. Fugitive Slave Act 1. Underground Railroad 2. Effect of Slave Narratives a. Personal liberty laws 3. Provisions 4. Anthony Burns case 5. Frederick Douglass & Harriet Jacobs 6. Effect on the North D. The Election of 1852 1. National Party system threatened 2. Winfield Scott v. Franklin Pierce E. “Young America”: The Politics of Expansion 1. Pierce’s support 2. Filibusteros a. Caribbean & Central America 3. Cuba & Ostend Manifesto IV. The Crisis of the National Party System A. The Kansas-Nebraska Act (1854) 1. Stephen A. Douglas 2. Popular sovereignty 3. Political miscalculation B. “Bleeding Kansas” 1. Proslavery: Missouri a. “Border ruffians” 2. Antislavery: New England a. -
Friday, June 21, 2013 the Failures That Ignited America's Financial
Friday, June 21, 2013 The Failures that Ignited America’s Financial Panics: A Clinical Survey Hugh Rockoff Department of Economics Rutgers University, 75 Hamilton Street New Brunswick NJ 08901 [email protected] Preliminary. Please do not cite without permission. 1 Abstract This paper surveys the key failures that ignited the major peacetime financial panics in the United States, beginning with the Panic of 1819 and ending with the Panic of 2008. In a few cases panics were triggered by the failure of a single firm, but typically panics resulted from a cluster of failures. In every case “shadow banks” were the source of the panic or a prominent member of the cluster. The firms that failed had excellent reputations prior to their failure. But they had made long-term investments concentrated in one sector of the economy, and financed those investments with short-term liabilities. Real estate, canals and railroads (real estate at one remove), mining, and cotton were the major problems. The panic of 2008, at least in these ways, was a repetition of earlier panics in the United States. 2 “Such accidental events are of the most various nature: a bad harvest, an apprehension of foreign invasion, the sudden failure of a great firm which everybody trusted, and many other similar events, have all caused a sudden demand for cash” (Walter Bagehot 1924 [1873], 118). 1. The Role of Famous Failures1 The failure of a famous financial firm features prominently in the narrative histories of most U.S. financial panics.2 In this respect the most recent panic is typical: Lehman brothers failed on September 15, 2008: and … all hell broke loose. -
Dred Scott</Em>
Chicago-Kent Law Review Volume 82 Issue 1 Symposium: 150th Anniversary of the Article 4 Dred Scott Decision December 2006 Dred Scott and the Crisis of 1860 Louise Weinberg Follow this and additional works at: https://scholarship.kentlaw.iit.edu/cklawreview Part of the Law Commons Recommended Citation Louise Weinberg, Dred Scott and the Crisis of 1860, 82 Chi.-Kent L. Rev. 97 (2007). Available at: https://scholarship.kentlaw.iit.edu/cklawreview/vol82/iss1/4 This Article is brought to you for free and open access by Scholarly Commons @ IIT Chicago-Kent College of Law. It has been accepted for inclusion in Chicago-Kent Law Review by an authorized editor of Scholarly Commons @ IIT Chicago-Kent College of Law. For more information, please contact [email protected], [email protected]. DRED SCO7T AND THE CRISIS OF 1860* LOUISE WEINBERG* INTRODUCTION: A PROVOCATIVE VIEW In recent work, Mark Graber, a participant in this Symposium, argues provocatively that Dred Scott v. Sandfordi was a "centrist" decision when handed down.2 In Graber's view, most Americans were comfortable with Dred Scott. He points out that Congress, and indeed the whole country, had repeatedly looked to the Taney Court to settle the -issue of slavery in the territories, and argues that the country was happy to abide by whatever the Court decided. Graber's main point is that Dred Scott was a needed compromise that sustained the Democratic Party's North-South coalition, and in that way sustained the Union itself. Graber argues that the conflict between North and South became irreconcilable when it became wholly sectional, with the breakup of the Democratic Party into separate Northern and Southern fac- tions. -
A New Nation Struggles to Find Its Footing
The decades leading to the United States Civil War – the Antebellum era – reflect 1829, David Walker (born as a free black in North Carolina) publishes The concept of Popular Sovereignty allowed settlers into those issues of slavery, party politics, expansionism, sectionalism, economics and ‘Appeal to the Colored Citizens of the World’ calling on slaves to revolt. territories to determine (by vote) if they would allow slavery within modernization. their boundaries. “Antebellum” – the phrase used in reference to the period of increasing 1831, William Lloyd Garrison publishes ‘The Liberator’ Advocated by Senator Stephen Douglas from Illinois. sectionalism which preceded the American Civil War. The abolitionist movement takes on a radical and religious element as The philosophy underpinning it dates to the English social it demands immediate emancipation. contract school of thought (mid-1600s to mid-1700s), represented Northwest Ordinance of 1787 by Thomas Hobbes, John Locke and Jean-Jacques Rousseau. The primary affect was to creation of the Northwest Territory as the first organized territory of the United States; it established the precedent by which the Antebellum: Increasing Sectional Divisions 1845, Frederick Douglass published his autobiography United States would expand westward across North America by admitting new The publishing of his life history empowers all abolitionists to states, rather than by the expansion of existing states. 1787-1860 (A Chronology, page 1 of 2) challenge the assertions of their pro-slave counterparts, in topics The banning of slavery in the territory had the effect of establishing the Ohio ranging from the ability of slaves to learn to questions of morality River as the boundary between free and slave territory in the region between 1831, Nat Turner’s Rebellion (slave uprising) and humanity. -
The Speaking of William H. Seward, 1845-1861
This dissertation has been microfilmed exactly as received 68—3011 LAWSON, Harold Lewis, 1940- THE SPEAKING OF WILLIAM H. SEWARD: 1845-1861. The Ohio State University, Ph.D., 1967 Speech University Microfilms, Inc., Ann Arbor, Michigan THE SPEAKING OF WILLIAM H. SEWARD 1845 — 1861 Dissertation Presented in Partial Fulfillment of the Requirements for the Degree Doctor of Philosophy in the Graduate School of The Ohio State University By Harold Lewis Lawson, B.S.E., M.S. The Ohio State University 1967 Approved by Adviser department of Speech ACKNOWLEDGMENTS The writer of any dissertation is indebted to the members of his committee— in my case to Professors Keith Brooks, Wallace Fotheringham, James Golden, and Richard Rieke. I am especially in debted to my major adviser, Dr. James Golden, whose comments and suggestions are, in large measure, responsible for whatever merit the finished product may have. I am most grateful to the University of Rochester Library, and particularly to Margaret B. Andrews, Assistant Librarian in Charge of Special Collections; and to her assistant, Catherine D. Hayes; for permission to use and assistance in using, the William H. Seward Collection. William H. Seward was a graduate of Union College, Schenectady New York. I am grateful to Henry J. Swanker, Director of Alumni Rela tions, for sending me materials and information unattainable elsewhere Finally, I am grateful to my wife, June, and to the friends, colleagues, and students who have endured my changes in disposition during the progress of this study. VITA August 14, 1940 Born - Pittsburg, Kansas May, 1962. B.S.E., Kansas State Teachers College, Emporia, Kansas August, 1963. -
Asymmetric Information and Financial Crises: a Historical Perspective
This PDF is a selection from an out-of-print volume from the National Bureau of Economic Research Volume Title: Financial Markets and Financial Crises Volume Author/Editor: R. Glenn Hubbard, editor Volume Publisher: University of Chicago Press Volume ISBN: 0-226-35588-8 Volume URL: http://www.nber.org/books/glen91-1 Conference Date: March 22-24,1990 Publication Date: January 1991 Chapter Title: Asymmetric Information and Financial Crises: A Historical Perspective Chapter Author: Frederic S. Mishkin Chapter URL: http://www.nber.org/chapters/c11483 Chapter pages in book: (p. 69 - 108) Asymmetric Information and Financial Crises: A Historical Perspective Frederic S. Mishkin In recent years there has been a growing concern with the fragility of the financial system. Increasing defaults on junk bonds and the stock market crash of October 1987 have raised the specter of major financial crises which might inflict severe damage on the economy. Policymakers, particularly those in the central bank, are faced with the questions of what they should do to prevent financial crises and what their response should be when a financial crises ap- pears imminent. In order to start providing intelligent answers to these ques- tions, we must first understand the nature of financial crises and how they might affect the aggregate economy. This paper seeks to understand the nature of financial crises by examining their history in the United States using the new and burgeoning literature on asymmetric information and financial structure, which has been excellently surveyed recently by Gertler (1988a). After describing how an asymmetric information approach helps to understand the nature of financial crises, the paper focuses on a historical examination of a series of financial crises in the United States, beginning with the panic of 1857 and ending with the stock market crash of 19 October 1987. -
Rethinking the Coming of the Civil War: a Counterfactual Exercise
Rethinking the Coming of the Civil War: A Counterfactual Exercise Gary J. Kornblith In their classic work, The Rise of American Civilization, Charles A. Beard and Mary Downloaded from R. Beard famously termed the Civil War “a Second American Revolution and in a strict sense, the First.” Over the past seventy years, historians have often debated the merits of the Beards’ classification and the extent to which the Civil War transformed the social structure of the United States. Scholars have shown much less interest in comparing the causes of and preludes to the two great military conflicts that defined http://jah.oxfordjournals.org/ American national identity. This lacuna in the historiography is surprising because, on even cursory inspection, the parallels are striking. Both the Revolution and the Civil War broke out roughly a dozen years after the formal conclusion of a war for empire on the North American continent that ended in an overwhelming triumph for Anglo-Americans. In each case, the acquisition of new territory raised critical questions about the authority structure of the empire and the limits of local auton- omy. What began as a debate over the powers of the central government developed at :: on October 29, 2012 into a full-blown constitutional crisis that resulted in a declaration of independence and military resistance by several geographically contiguous provinces (thirteen in the case of the Revolution, eleven in the case of the Civil War). Faced with armed insur- rection, the central government raised a huge military force to suppress the rebels, and a long and brutal war ensued. -
Brooks D. Simpson
Brooks D. Simpson ASU Foundation Professor College of Integrative Sciences and Arts Honors Faculty, Barrett, The Honors College Arizona State University e-mail [email protected] Education: B.A. (High Honors), University of Virginia, 1979; M.A., University of Wisconsin-Madison, 1982; Ph.D., University of Wisconsin-Madison, 1989. Previous Positions: Lecturer, University of Wisconsin-Madison, 1983; Assistant Editor, The Papers of Andrew Johnson, 1984-1987; Instructor /Assistant Professor, Wofford College, 1987-1990. Dissertation: “Let Us Have Peace: General Ulysses S. Grant and the Politics of War and Reconstruction, 1861-1868.” Honors and Awards: NEH Travel to Collections Award, 1990; Huntington Library Fellow, 1991; Newberry Library Fellow, 1991; American Philosophical Society Grant, 1991; Dirksen Congressional Research Center Grant, 1991; Faculty Grant-in-Aid, ASU, 1992, 1994, 1995, 1998; NEH Summer Stipend, 1994; Father Smith Lecturer, Gonzaga University, 1994; American Council of Learned Societies Fellowship, 1994; Fulbright Scholarship, Leiden University, 1995; Interdisciplinary Fellow, ASU, 1998; ASU Alumni Association Faculty Research Award, 2003; Best Group Blog, Cliopatria, 2006; ASU Professor of the Year Finalist, 2006, 2009, 2011, 2012, and 2013; ASU Foundation Chair, 2009-present; Cecil H. & Ida Green Honors Chair Lecture, Texas Christian University, 2012; Barrett Visiting Faculty Fellow, Barrett, The Honors College (ASU), 2012-13. Publications--Books: Advice After Appomattox: Letters to Andrew Johnson, 1865-1866. Knoxville: University of Tennessee Press, 1987. With LeRoy P. Graf and John Muldowny. Let Us Have Peace: Ulysses S. Grant and the Politics of War and Reconstruction, 1861-1868. Chapel Hill: The University of North Carolina Press, 1991 (paperback, 1997). A History Book Club Selection. -
Dred Scott</Em> Decision
Chicago-Kent Law Review Volume 82 Issue 1 Symposium: 150th Anniversary of the Dred Article 13 Scott eD cision December 2006 Stay East, Young Man? Market Repercussions of the Dred Scott Decision Jenny B. Wahl Follow this and additional works at: https://scholarship.kentlaw.iit.edu/cklawreview Part of the Law Commons Recommended Citation Jenny B. Wahl, Stay East, Young Man? Market Repercussions of the Dred Scott Decision, 82 Chi.-Kent L. Rev. 361 (2007). Available at: https://scholarship.kentlaw.iit.edu/cklawreview/vol82/iss1/13 This Article is brought to you for free and open access by Scholarly Commons @ IIT Chicago-Kent College of Law. It has been accepted for inclusion in Chicago-Kent Law Review by an authorized editor of Scholarly Commons @ IIT Chicago-Kent College of Law. For more information, please contact [email protected]. STAY EAST, YOUNG MAN? MARKET REPERCUSSIONS OF THE DRED SCOTT DECISION JENNY B. WAHL* [I]t is the opinion of the court that the act of Congress which prohibited a citizen from holding and owning property of this kind in the territory of the United States north of the line therein mentioned, is not warranted by the Constitution, and is therefore void .... Dred Scott v. Sandford' INTRODUCTION With a single sentence, U.S. Supreme Court Chief Justice Roger Taney affirmed the value of one type of property-slaves-and undercut the value of another-western land. Uncertainty about land markets suf- fused the economy in family decisions about whether and where to migrate, in the transportation sector (particularly railroads), in financial markets, and in politics. -
Ending the Civil War and Consequences for Congress
ENDING THE CIVIL WAR AND CONSEQUENCES FOR CONGRESS EDITED BY PAUL FINKELMAN AND DONALD R. KENNON Ending the Civil War and Consequences for Congress Perspectives on the History of Congress, 1801–1877 Donald R. Kennon, Series Editor Congress and the Emergence of Sectionalism: From the Missouri Compromise to the Age of Jackson, edited by Paul Finkelman and Donald R. Kennon In the Shadow of Freedom: The Politics of Slavery in the National Capital, edited by Paul Finkelman and Donald R. Kennon Congress and the Crisis of the 1850s, edited by Paul Finkelman and Donald R. Kennon Lincoln, Congress, and Emancipation, edited by Paul Finkelman and Donald R. Kennon Congress and the People’s Contest: The Conduct of the Civil War, edited by Paul Finkelman and Donald R. Kennon Civil War Congress and the Creation of Modern Amer i ca: A Revolution on the Home Front, edited by Paul Finkelman and Donald R. Kennon Ending the Civil War and Consequences for Congress, edited by Paul Finkelman and Donald R. Kennon Ending the Civil War and Consequences for Congress Edited by Paul Finkelman and Donald R. Kennon Published for the United States Capitol Historical Society by Ohio University Press • Athens Ohio University Press, Athens, Ohio 45701 ohioswallow . com © 2019 by Ohio University Press All rights reserved To obtain permission to quote, reprint, or other wise reproduce or distribute material from Ohio University Press publications, please contact our rights and permissions department at (740) 593-1154 or (740) 593-4536 (fax). Printed in the United States of Amer i ca Ohio University Press books are printed on acid- free paper ™ 29 28 27 26 25 24 23 22 21 20 19 5 4 3 2 1 Library of Congress Cataloging- in- Publication Data Names: Finkelman, Paul, 1949– editor. -
The American Pageant 15 Edition Chapter 19 Notes Drifting Toward
Manifest De The American Pageant th 15 Edition Chapter 19 notes Drifting Toward Disunion I. Stowe and Helper: Literary Incendiaries 1. Uncle Tom’s Cabin, a novel by Harriet Beecher Stowe, was a great success at showing the people the evils of slavery. o It was a great political force as well that helped start and win the civil war, it was very influential. o The novel was popular abroad. 2. The Impending Crisis of the South also was influential and was written by Hinton R. Helper. o It was banned in the south. II. The North-South Contest for Kansas 1. Most of the people coming into Kansas were westward moving pioneers. o Some were financed by a northern abolitionist group – New England Aid Company. 2. Southerners cried betrayal and set up their own government at Shawnees, Missouri o Free spoilers set up their own government in Topeka, Kansas. III. Kansas in Convulsion 1. John Brown, an abolitionist led a band to hack to pieces 5 men, besmirching the free-soil cause. 2. Civil War in Kansas erupted destroying property and lives. 3. By 1857 Kansas was ready to apply for statehood. o Proslavery forced devised the Lecompton Constitution which wouldn’t let people vote for or against the constitution, insuring slavery in Kansas. 4. James Buchanan Succeeded Pierce, and approved the Lecompton Compromise. o Eventually another compromise let the people vote on the Lecompton Compromise and it was revoked. 5. The Democrats, the last national party was divided and so was the union. IV. “Bully” Brooks and His Bludgeon 1.