Jackson Facts Flashcards
Amongst how many pet banks did Jackson split the federal money in 1833
23
By 1837, how much was total state debt?
$170 million (a very large sum in the 1800s)
Which Supreme Court case ruled that the Bank of the United States was constitutional?
McCulloch v. Maryland
What did Jackson do in response to the speculative mania that occurred as a result of the bank war?
Introduced the: Distribution Act and the Specie Circular.
Who disliked the bank
Southerners and many in the West who were suspicious of it.
Bankers on Wall Street, as it was on Chestnut street, Philadelphia
Jackson
Who has too much power as a result of BUS?
The undemocratically elected board of directors of the bank (this was mostly made up of the Eastern elite)
Biddle,
foreign shareholders
What was the function of BUS?
What happened without it?
Regulate currency and economic growth, facilitate business expansion
Without BUS: irresponsible pet banks devalued the currency by overprinting unsupported notes of multiple different currencies. This resulted in economic chaos and speculative mania. Businesses could not get loans, therefore failed, causing unemployment
NB- This was also caused by changes in the foreign market not the bank war
What was the effect of the distribution act?
federal surplus was pulled out of the PET banks to be given to states, this forced pet banks to recoil their loans, causing local businesses and people debts and financial troubles.
What was the effect of the Specie circular?
Land had to be paid for in gold or silver, not unsupported paperbacks. Since potential settlers could not get hold of specie easily, this caused land sales to be dominated by speculators
What did Clay do about the nullification crisis?
He brokered a lower tariff which slashed the tax on cloth from 45% down to 5%
When did SC claim it would begin enforcing nullification in the state?What happened
1st February 1833
It postponed it in expectation of a compromise
When was the Indian removal bill passed?
By 1835 how many people had been relocated?
1830
46 thousand
What was the play called which fostered white support and sympathy for the Indians
Metamora
Who mobilised the women in support of the Indians
What was the consequence for Van Buren?
What other protest was there?
Catherine Beecher
Van Buren’s niece denounced Indian removal to his face
Metamora
The tracts written under the pseudonym ‘William Penn’ published by over 100 newspapers and read by an estimated 1/2 million people.
Frelinghuysen’s ammendment
Which Supreme Court cases supported the Indians?
Cherokee nation v. Georgia
Worcester v. Georgia
