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The Bank War and its Effects

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The Bank War and its Effects I) Jackson disliked the national bank I) Jackson disliked the national bank A) The US owned 1/5 of the bank, and kept all its money there ... – PowerPoint PPT presentation

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Title: The Bank War and its Effects


1
The Bank War and its Effects
2
I) Jackson disliked the national bank
3
I) Jackson disliked the national bank
  • A) The US owned 1/5 of the bank, and kept all its
    money there

4
I) Jackson disliked the national bank
  • A) The US owned 1/5 of the bank, and kept all its
    money there
  • B) Jackson felt that the bank only benefited the
    wealthy

5
I) Jackson disliked the national bank
  • A) The US owned 1/5 of the bank, and kept all its
    money there
  • B) Jackson felt that the bank only benefited the
    wealthy
  • 1) Nicholas Biddle, bank pres., would not accept
    the bank notes of small western banks, making it
    difficult for farmers to borrow money for land

6
I) Jackson disliked the national bank
  • A) The US owned 1/5 of the bank, and kept all its
    money there
  • B) Jackson felt that the bank only benefited the
    wealthy
  • 1) Nicholas Biddle, bank pres., would not accept
    the bank notes of small western banks, making it
    difficult for farmers to borrow money for land
  • 2) Jackson accused Biddle of trying to keep
    wealth in the hands of the few (refused to renew
    their charter in 1836)

7
C) Henry Clay had a plan to have the charter
renewed
8
C) Henry Clay had a plan to have the charter
renewed
  • 1) Ask for renewal prior to the 1832 election,
    forcing Jackson to make a decision

9
C) Henry Clay had a plan to have the charter
renewed
  • Ask for renewal prior to the 1832 election,
    forcing Jackson to make a decision
  • a) Renews the charter gt angers the west and south

10
C) Henry Clay had a plan to have the charter
renewed
  • Ask for renewal prior to the 1832 election,
    forcing Jackson to make a decision
  • Renews the charter gt angers the west and south
  • Veto charter gt anger the northeast

11
C) Henry Clay had a plan to have the charter
renewed
  • Ask for renewal prior to the 1832 election,
    forcing Jackson to make a decision
  • Renews the charter gt angers the west and south
  • Veto charter gt anger the northeast
  • Either way he would lose votes in the election

12
C) Henry Clay had a plan to have the charter
renewed
  • Ask for renewal prior to the 1832 election,
    forcing Jackson to make a decision
  • Renews the charter gt angers the west and south
  • Veto charter gt anger the northeast
  • Either way he would lose votes in the election
  • The plan failed b/c the Northeast did not care,
    Jackson won re-election in 1832

13
II) The Rise of the Whig Party
14
A) The Bank War leads to the Whigs
15
A) The Bank War leads to the Whigs
  • 1) The old National Republican Party (J.Q. Adams)
    joined with the bankers, unhappy democrats, and
    states right supporters

16
A) The Bank War leads to the Whigs
  • 1) The old National Republican Party (J.Q. Adams)
    joined with the bankers, unhappy democrats, and
    states right supporters
  • 2) The Whigs did not have much power and lost the
    1836 election to Martin Van Buren

17
B) In 1837, the country slipped into a horrible
economic depression
18
B) In 1837, the country slipped into a horrible
economic depression
  • 1) The Panic of 1837 would be blamed upon Van
    Buren

19
B) In 1837, the country slipped into a horrible
economic depression
  • 1) The Panic of 1837 would be blamed upon Van
    Buren
  • 2) In fact, the depression should have been
    blamed on Jackson

20
B) In 1837, the country slipped into a horrible
economic depression
  • 1) The Panic of 1837 would be blamed upon Van
    Buren
  • 2) In fact, the depression should have been
    blamed on Jackson
  • 3) His bank policies caused the panic

21
C) The Whigs in 1840 Election
22
C) The Whigs in 1840 Election
  • 1) Use depression to their advantage, Martin Van
    Ruin

23
C) The Whigs in 1840 Election
  • 1) Use depression to their advantage, Martin Van
    Ruin
  • 2) Whigs would nominate William Henry Harrison of
    Ohio (gen.at Tippecanoe, and comes from a poor
    family)

24
C) The Whigs in 1840 Election
  • 1) Use depression to their advantage, Martin Van
    Ruin
  • 2) Whigs would nominate William Henry Harrison of
    Ohio (gen.at Tippecanoe, and comes from a poor
    family)
  • 3) Campaign full of mud-slinging

25
C) The Whigs in 1840 Election
  • 1) Use depression to their advantage, Martin Van
    Ruin
  • 2) Whigs would nominate William Henry Harrison of
    Ohio (gen.at Tippecanoe, and comes from a poor
    family)
  • 3) Campaign full of mud-slinging
  • a) Dems say Harrison Should sit in his cabin and
    drink cider

26
C) The Whigs in 1840 Election
  • 1) Use depression to their advantage, Martin Van
    Ruin
  • 2) Whigs would nominate William Henry Harrison of
    Ohio (gen.at Tippecanoe, and comes from a poor
    family)
  • 3) Campaign full of mud-slinging
  • a) Dems say Harrison Should sit in his cabin and
    drink cider
  • b) Whigs use this and label their campaign as the
    log cabin campaign

27
C) The Whigs in 1840 Election
  • c) Whigs use the slogan Tippecanoe and Tyler
    Too!
  • 1) John Tyler is the VP candidate

28
D) Whigs Win the 1840 Election
29
D) Whigs Win the 1840 Election
  • 1) Harrison dies of pneumonia a month later, and
    Tyler becomes president

30
D) Whigs Win the 1840 Election
  • 1) Harrison dies of pneumonia a month later, and
    Tyler becomes president
  • 2) First time VP had become president

31
D) Whigs Win the 1840 Election
  • 1) Harrison dies of pneumonia a month later, and
    Tyler becomes president
  • 2) First time VP had become president
  • 3) However, Tyler was a democrat at heart, and
    did not pass Whig plans

32
D) Whigs Win the 1840 Election
  • 1) Harrison dies of pneumonia a month later, and
    Tyler becomes president
  • 2) First time VP had become president
  • 3) However, Tyler was a democrat at heart, and
    did not pass Whig plans
  • 4) Whigs throw him out of the party, and will run
    someone else in the 1844 election
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