Unit 4: Topic 7 - Expanding Democracy Flashcards
What was the Panic of 1819? What caused it?
The Panic of 1819 was the first major economic depression in US history.
The Second Bank of the US constricted lending policies to combat inflation; this restricted funds to borrow which caused many state banks to close.
Unemployment increased, bankruptcies occurred, and people unable to pay debts went to prison.
Why was the Panic of 1819 significant?
The Panic of 1819 was significant since it led to laboring men, especially in the West where the depression hit the hardest, to want to hold their politicians accountable. Franchise (the ability to vote) was combined with property ownership at this time.
The frustration over the Panic of 1819 and the fact that frontier states already had established universal white male suffrage unconnected to property ownership led to many states lowering or removing property qualification for voting. Since more people could vote, it ultimately caused a realignment in political parties.
What changes occurred to the Democratic-Republican party?
The Democratic-Republicans split into two factions called the Democrats and the National Republicans (reminder: these are two factions within a singular political party).
The Democrat faction believed in limited federal power and strict constructionism (a tighter interpretation where the federal government can’t do anything not explicitly written in the Constitution).
The National Republican faction believed in an expansive view of federalism and loose constructionism (a flexible interpretation of the Constitution).
What happened during the Election of 1824?
The Democratic-Republicans could not agree on a single candidate because the factions had differing opinions.
There were four candidates: John Quincy Adams, Henry Clay, William Crawford, and Andrew Jackson. Jackson won most of the popular votes, but none of the candidates won the majority of the electoral college votes.
Based on the Constitution, the House of Representatives had to choose, and Adams ultimately won.
What was the Corrupt Bargain?
Henry Clay came in last in electoral college votes, so when the House of Representatives had to decide the president, Clay used his support in the House to get John Quincy Adams to win. Once Adams was president, he selected Clay as Secretary of State.
Andrew Jackson won the most popular and electoral votes but not the most House of Representative votes. He and his supporters were furious and called the interaction between Clay and Adams the Corrupt Bargain, even though there was no real evidence of wrongdoing.
What was the Panic of 1819? What caused it?
The Panic of 1819 was the first major economic depression in US history.
The Second Bank of the US constricted lending policies to combat inflation; this restricted funds to borrow which caused many state banks to close.
Unemployment increased, bankruptcies occurred, and people unable to pay debts went to prison.
Why was the Panic of 1819 significant?
The Panic of 1819 was significant since it led to laboring men, especially in the West where the depression hit the hardest, to want to hold their politicians accountable. Franchise (the ability to vote) was combined with property ownership at this time.
The frustration over the Panic of 1819 and the fact that frontier states already had established universal white male suffrage unconnected to property ownership led to many states lowering or removing property qualification for voting. Since more people could vote, it ultimately caused a realignment in political parties.
