“Tariff of Abominations of 1828” 1824, another protective tariff, raised from

23%-37%.

WHY DOES THE SOUTH OPPOSE TARIFFS?

Higher Tariffs Fewer Imports from Britain

Britain makes less $ Britain buying less cotton from

South

NULLIFICATION Tariff seen as an encroachment on states’

rights, esp. in South Carolina

Calhoun’s calls for nullification, which also implied power of a state to secede from the Union

Growing Sectionalism Calhoun leaves Vice-Pres. – becomes opponent of

Nationalism

Webster (MA)-Hayne (SC) debates outlines future split b/w North & South,

b/w Secessionists & Unionists

South Carolina declares Tariffs of 1828 and 1832 “null”- threatens to secede

South Carolina Rebels 1832 Tariff increases the tariff

amountSC – “Null and Void”, SECESSION!!!!Jackson was furious

Force Bill (1833)- Pres. Jackson authorized to use military to enforce the Tariff

Henry ClayThe compromise is to gradually reduce

the tariff over several years

B.U.S. (Bank of the United States) Jackson refuses to

renew the charter

See the banks as an agent of the wealthy

Thought the bank was corrupt

○ Stockholders, not people get $

○ Congressmen get lower loan rates

People become angry, bank loses charter

•Pet Banks

•Formation of the “Whig” Party

•Jackson viewed as a king

How would you evaluate Andrew Jackson’s presidency? GOOD:

BAD:

“UGLY:”

•Martin Van Buren becomes President in 1836.

PANIC OF 1837: Causes and Effects

How much of the Panic of 1837 was his fault?

Fed $ put in

WildcatBanks

SpecieCircular

1836“run” on

BankNotes

Banks stop accepting

paper $

Bankclosings

Unemployment& Recession

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henryharrison_campaignposter.jpg

WilliamHenry

Harrison

Whig Party Candidate

1840

Election of 1840Van Buren (Dem) vs. Harrison (Whigs)

Whigs steal Jackson’s political strategy:

Run an old war hero as a “man of the people”= William Henry Harrison,

Gov. of Indiana and “Hero” of Tippecanoe

Harrison wins, then dies after 4 weeks in office.

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Tyler: A President without a Party

1841: Tyler assumes Presidency after Harrison’s death

Tyler turns out to be more of a Democrat than a Whig!

Clay and Whigs clash with Tyler over creating BUS

(Bank of the United States) and then Tyler threatens to veto Tariff increases.

OBJECTIVES TERMS

1. Explain why the protective tariff laws raised the issue of states’ rights

2. To summarize how Jackson destroyed the Bank of the United States

3. To identify some of the results of Jackson’s economic policies

Daniel Webster John C. Calhoun Tariff of Abominations Bank of the United

States Whig Martin Van Buren Panic of 1837 William Henry Harrison John Tyler