States rights the bank of the us
This presentation is the property of its rightful owner.
Sponsored Links
1 / 25

States’ Rights & the Bank of the US PowerPoint PPT Presentation


  • 90 Views
  • Uploaded on
  • Presentation posted in: General

States’ Rights & the Bank of the US. The South & the Tariff. After War of 1812: Protective tariff established Benefitted businesses in north trying to compete with Europe Hurt south – Europe retaliated by  tariffs on US exports (cotton ). The South & the Tariff. Next 2 decades:

Download Presentation

States’ Rights & the Bank of the US

An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.


- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -

Presentation Transcript


States rights the bank of the us

States’ Rights &

the Bank of the US


The south the tariff

The South & the Tariff

  • After War of 1812:

    • Protective tariff established

    • Benefitted businesses in north trying to compete with Europe

    • Hurt south – Europe retaliated by tariffs on US exports (cotton)


The south the tariff1

The South & the Tariff

  • Next 2 decades:

    • US raised tariffs over & over

    • The higher the tariffs, the more they helped north and hurt south


Tariff of abominations

“Tariff of Abominations”

  • Very high tariff in 1828

  • Nearly shut down foreign trade

  • South took it personally

    • Saw it as N getting rich off them


John calhoun

John Calhoun

  • VP under Jackson

    • Later Sen from SC

  • Had been very nationalistic

    • Favored Henry Clay’s American Plan


John calhoun1

John Calhoun

  • SC voters were against the tariffs

  • Changed to believe in states’ rights

  • Developed theory of nullification


Nullification

Nullification

  • States can choose not to follow laws if they believe they violate the constitution

    • Also states can secede if their constitutional rights are violated


Hayne webster debate

Hayne-Webster debate

  • Sens Robert Hayne (SC) & Daniel Webster (MA)

  • Very charged debate – threats of secession

    • Calhoun (VP) on side of Hayne


Jackson s response

Jackson’s response

  • “The union: it must be preserved.”

  • Split Jackson & Calhoun

    • Calhoun resigned as VP, then named a Senfrom SC (next day)


Tariff of 1832

Tariff of 1832

  • Milder tariff – SC still against it

    • SC said they can ignore it, threatened secession

  • Force Bill of 1833 – Jackson threatened to march federal troops into SC


Compromise

Compromise

  • Henry Clay (KY) suggested:

    • Reduce tariff back to original 1816 level

    • SC agreed to it, ended conflict for the time being


Bank of the united states

Bank of the United States

  • Jackson hated BUS

    • Said it favored northern rich

  • BUS was on a 20 year charter

    • Jackson vetoed bill that would have rechartered bank

    • BUS would expire


Bank of the united states1

Bank of the United States

  • BUS had all fed gov’s accounts

    • Hurt state banks – didn’t have a chance to get deposits

    • BUS investors received interest revenue from tax deposits


Jackson s pet banks

Jackson’s “Pet Banks”

  • Jackson had tax deposits put in hand-picked state banks

    • Banks loyal to Democrats

  • Ended up bankrupting BUS before its charter expired


Creation of whig party

Creation of Whig Party

  • JQ Adams & Clay’s supporters had formed Natl Republicans

    • Democrats upset over Jackson’s treatment of BUS joined them


Whig party

Whig Party

  • Beliefs:

    • Tariffs for US business

    • Infrastructure spending

    • National currency & bank


Martin van buren

Martin Van Buren

  • Won election of 1836 easily

  • Whigs couldn’t pick 1 person to run against him


Panic of 1837

Panic of 1837

  • Result of Jackson’s bank policies

    • Relaxed rules over state banks

    • Allowed state banks to make risky investments

    • Investments went bad; banks went bankrupt

    • Many people lost everything


Panic of 18371

Panic of 1837

  • Investments went bad; banks went bankrupt

  • Many people lost everything

  • Over 1/3 of US unemployed


Election of 1840

Election of 1840

  • Van Buren vs. WH Harrison

    • Harrison hero of Battle of Tippecanoe

    • Harrison’s running mate was John Tyler

    • Catchy slogan: “Tippecanoe & Tyler Too”


Election of 18401

Election of 1840

  • Van Buren got nickname too

    • He was from Kinderhook, NY

    • His people began calling him “Old Kinderhook”

    • Formed OK Clubs – originated American slang “OK”


Election of 18402

Election of 1840

  • Bad economy = Harrison won

  • Gave long inauguration speech in snow

  • Didn’t wear a coat


Election of 18403

Election of 1840

  • Got pneumonia

  • Died in 32 days

  • 1st president to die in office


John tyler tn

John Tyler (TN)

  • Never supposed to have power

  • Had run for VP to get south for Whigs

  • “His Accidency”


John tyler tn1

John Tyler (TN)

  • Disagreed w/Whigs, got booted from party

  • One of weakest presidents ever


  • Login