2/21/2017 3 Regions Emerge During Jackson’s Presidency Tariff of Abominations • Tax on imports: What Region hated it? • North: Manufacturing (American made instead of imported) • South • South: Agriculture (did not like tariffs, made • Result: Nullification Crisis manufactured goods too expensive) • John C. Calhoun (Jackson’s VP) believed states • West: Developing, wanted sale of public land should have more power than federal government. • Calhoun thought South should be able to Nullify (get rid of) the tariffs that only benefited the North. • Jackson disagrees, Martin Van Buren takes over as VP for Jackson’s second term. The Bank War • Clay, Webster and Biddle predicted that Jackson would veto the charter application, angering so many Americans that • Jackson believed that the Bank of the United States had too he would eventually lose his bid for reelection in 1832. much power and served the needs of the rich over those of average Americans. Precisely! The American people will be • furious with him. He’ll never win For example, the Bank of the reelection in 1832! (By the way, did I Brilliant!! United States had the ability to mention that I’m going to run for limit the amount of money state president in 1832?) By golly, I think banks were allowed to lend to it’ll work!! small business owners such as farmers and merchants. • Jackson felt particular anger towards the bank’s president, Nicolas Biddle . Henry Clay Daniel Webster Nicholas Biddle • It turns out that Clay, Webster and Biddle underestimated Jackson’s popularity. Panic of 1837 • Jackson defeated Clay in the election of 1832. • Whig Party: formed to oppose a powerful • Jackson also succeeded in destroying the Bank of the president and support a strong Congress United States by having it shut down in 1836. instead. • Martin Van Buren becomes president • Because of Jackson’s anti-bank policies, Panic of 1837 or economic depression occurs. • Van Buren gets the blame • William Henry Harrison (Tippecanoe) gets Jackson fights elected in 1840 the Bank in 1832 (1833 print) 1.