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Second Bank
A second bank was chartered for twenty years. This bank was unpopular with the people in the newer states as people believed it represented the wealthy few. -
Panic of 1819
The boost of the finances from the War of 1812 came to a halt, and agricultural prices were chopped in half. This was the first American financial crisis. -
Election of 1832
Jackson won against Clay, he was against the central bank and would do anything in his power to get rid of it. -
Pet Banks
In order to crush the central bank, Jackson had the government stop depositing its funds into it. The government then deposited its funds in selected state banks. -
Formation of the Whig Party
Made up of the former national republicans and federalists. -
Panic of 1837
A financial crisis struck America and profits and wages went down. Everything came to a head when New York City ran out of gold and silver. -
Election of 1840
Harrison defeated Van Buren. This election was the first of two Whig Party victories.