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2nd Bank in 1816
This was the 2nd federally authorized national Hamiltonian bank. This was created to help the national treasury out of their financial situation and to control the system of money. -
Panic of 1819
The Panic of 1819 was a financial panic swept across the country. The growth in trade that followed the War of 1812 came to a stop. Unemployment rised, banks failed, mortgages were foreclosed, and agricultural prices fell by half. Investment in western lands collapsed. -
Election of 1832
Andrew Jackson and Henry Clay were the two major contenders for the election, representing the Democratic and National Republican parties. Jackson was reelected easily, despite Clay's intentions with the question of the Bank on the agenda. -
Formation of the Whig Party
The Whig Party consisted of national republicans, Danny Webster, Henry clay, and westerners who supported the bank to make internal improvements for the bank. -
Specie Circular of 1836
An executive order by Andrew Jackson that required payment for government land to be in gold and silver, due to the depreciation and uncertainty of the paper money medium. Many farmers in the south were unable to purchase land, making them angry. -
Panic of 1837
The panic of 1837 was a financial crisis in the United States that triggered a multi-year economic depression. The global movements of gold and silver, a collapsing land bubble, and falling cotton prices were all to blame. Evidence of the panic’s effects ranged from mild to severe and can be found in higher rates of unemployment, bankruptcies, hunger, urban unrest, and deflation. -
Election of 1840
In the Presidential election, General William Henry Harrison defeated Democratic President Martin Van Buren. Martin Van Buren's defeat made him the third President to fail to win re-election, following John Adams and John Quincy Adams. The 1840 Presidential Election was one of major disagreements.