Jacksonian Democracy: Part 2

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Jacksonian Democracy Part 2

• I. South Carolina the Threat to Secede (1830)
• 1. Congress passed Protective Tariff
• a. Encourage Americans to buy
• U.S. Products manufactured
• in the Northeast
• b. Southern States opposed
• -Tariff benefits only the Northeast
• c. VP John C. Calhoun
• -States have a right to nullify or
• ignore laws they see as unfair
• -Unsatisfied States can secede or
• withdraw from the U.S.A.
• d. Andrew Jackson
• -The Union will be preserved
• at all cost
• e. Calhoun Resigned as VP

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II. Jacksons War Against the National Bank

• 1. Distrust of big Banks
• a. Unfair undemocratic
• -southern western
• stored in northern Banks
• b. Many of Jacksons political
• opponents were bankers
• 2. Vetoed all Bank Charters
• 3. Removed all Federal funds
• a. placed them in small
• State Banks
• What do you think might happen if the U.S. had
  no National Bank, no standard American currency,
  each State had its own type of currency?

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III. The Panic of 1837

• 1. President Jackson Killed the National Bank
• a. National currency unpopular
• b. States issue wildcat currency
• -paper money with no real value
• c. Only gold and Silver had real value
• -nobody had gold or silver
• d. Economic depression
• e. No job, no money, no future?
• -go west young man

www.answers.com/topic/panic-of-1837