-
Creation of Whig Party
They came together after the election campaign of 1832. -
Jackson's Veto Message
This was Jackson's response to the bank wanting the charter to be renewed for the bank. Jackson believed that the bank was not constitutional and it wasn't actually benefitting the people like it was supposed to do. Congress was only trying to favor the rich and didn't care about the average everyday person. Jackson explained that in order for the government to be successful we needed to put more power in the people and states. -
"Crush the Central Bank"
After winning the election, Jackson ordered for the deposits of governmental money to be put into the bank and slowly withdraw all the money you had in the bank. During this the government chose select trusted state banks to put money into. -
Whigs couldn't unite
The Whigs couldn't decided which man to back support in the election of 1836. -
Panic of 1837
This was a financial crisis in America that was considered a major recession and lasted until the 1840s. The cause of this crisis was policies created by Andrew Jackson called "Specie Circular" and also his refusal to recharter the national bank. The decrease in the wealth of the economy created a downfall in jobs, stock exchange closings, bank closings, and halting of railroad construction.