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https://www.youtube.com/watch?v=beN4qE-e5O8. 7.4 States’ Rights and the National Bank. Andrew Jackson confronts two important issues during his presidency—states’ rights and a national bank. NEXT. https://www.youtube.com/watch?v=VNgIUUD7i-A. SECTION. 4.

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  1. https://www.youtube.com/watch?v=beN4qE-e5O8 7.4 States’ Rights and the National Bank Andrew Jackson confronts two important issues during his presidency—states’ rights and a national bank. NEXT

  2. https://www.youtube.com/watch?v=VNgIUUD7i-A SECTION 4 I. A Tariff Raises the States’ Rights Issue A. The Nullification Theory • Tariff raised 1824, 1828 • Vice-presidentJohn C. Calhoun calls 1828--Tariff of Abominations •Thinks South pays for North’s prosperity; cotton prices low • Calhoun devises nullification theory: - questions legality of applying federal laws to states - state can reject law it considers unconstitutional - states have right to leave Union if nullification denied Continued . . . NEXT

  3. SECTION 4 B. South Carolina Rebels • SC declares 1828, 1832 tariffs null; threatens to secede • Congress passes Force Bill: can use army, navy against S. Carolina • Henry Clay proposes tariff that lowers duties over 10 years NEXT

  4. http://www.history.com/topics/us-presidents/andrew-jackson/videos/jackson-censured-in-bank-warhttp://www.history.com/topics/us-presidents/andrew-jackson/videos/jackson-censured-in-bank-war SECTION 4 II. Jackson Attacks the National Bank A. Jackson Opposes the Bank • Jackson vetoes bill to recharterBank of the United States • Presents bank as privileged institution that favors the wealthy – stockholders not the average taxpayer earned interest • Congressmen given loans at lower rates than average citizen B. Pet Banks • Jackson puts federal money in state banks loyal to Dem. Party • BUS president Nicholas Biddle unsuccessfully tries to save bank C. Whig Party Forms • People unhappy with Jackson formWhig Party NEXT

  5. https://www.youtube.com/watch?v=2MT1ZkfxEc8 SECTION 4 https://www.youtube.com/watch?v=WT2oboEn8-Q III. Van Buren Deals with Jackson’s Legacy A. Jackson’s Legacy • Rush to exchange paper money for specie, banks stop taking paper •Panic of 1837—bank closings, collapse of credit system: - people lose savings, businesses bankrupted - more than 1/3 of population out of work • Van Buren tries unsuccessfully to solve economic problems Continued . . . NEXT

  6. http://www.history.com/topics/us-presidents/william-henry-harrisonhttp://www.history.com/topics/us-presidents/william-henry-harrison SECTION 4 B. Harrison and Tyler • WhigWilliam Henry Harrisonbeats Van Buren in 1840 election • Dies one month later from pneumonia; succeeded by vice-presidentJohn Tyler “His Accidency” NEXT

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