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Second National Bank
To restrain uninhibited proliferation of paper money. Jackson argued that the form that was presented to him was incompatible with justice, sound policy, and the Constitution. The McCulloch v. Maryland chartering of the second bank of the U.S. was within the power of the federal government and the State of Maryland could not constitutionally tax a legitimate operation of the federal government. This helped the national treasury out of its financial situation and helped regulate currency. -
Election of 1832
Jackson won 219 out of 286 electoral votes leaving him to defeat clay, the candidate of the National Republic party, and Anti-Masonic party candidate William Writ, John Floyd. Not only was the Congressional nominating caucus terminated but the contest for 1828 had already been predetermined. The Anti-Masonic party rose as an indirect result of the William Morgan abduction and as a direct result of perceived Masonic abuses of privilege. -
Rechartering Bill of 1832
The Rechartering Bill of 1832 was when Henry Clay, Daniel Webster, and Andrew Jackson's opponents passed a bill that would help the Second National Bank of the U.S. The reasoning for this was to make Jackson to take a stance on the bank for weather or not he was for or against the bank. Jackson vetoed rechartering the second National Bank, which would remove the control of the money supply and the economy from the hands of the federal bureaucrats, and powerful investors. -
The Executive order of 1883
The purpose of the "Jackson Order" of 1883 was so Jackson could put an end to deposits of government money in the bank and withdrawal of deposits that were previously in the bank. The government would deposit its funds in select state banks that were characterized as "pet banks" by the opposition. -
Specie Circular(Coinage Act)
The Specie Circular was in place in hopes of preventing the payment of purchase for public land with paper currency. As a result, payments were only allowed in gold, and or silver. As payments were only allowed in gold and or silver they hope they would be able to restrain excessive land speculation within the west and reduce the growth of paper money in circulation. -
Panic of 1837
During the Panic of 1837 hundreds of banks collapsed, currency lost its value, prices rocked, while farmers, merchants, and business owners across the country suffered serve financial loss. Some people tried to cash in their paper money at banks, and because banks wouldn't allow it they were left with worthless paper money. The Whig and Democratic parties blamed each other for their financial crisis and use It as their political ammunition. -
Election of 1840
During the Election of 1840 the country was experiencing hard times, and low wages. The Whig Candidate, William Henry Harrison a hero of conflicts with the Natives was promoted to a representative of democratic West. John Tyler (vp)was a Virginian who views on states rights and low tariff were well known in the south. Within a month of his inauguration Harrison died for pneumonia.