Reign of “King Mob”
Andrew Jackson as
President
Jackson’s Faith
in the “Common Man”
3
Distrust of banks, creditors, N.
3
Heart & soul w/ “common man”
3
“common man was capable of
uncommon achievements.”
The “Peggy Eaton
Affair”
The Webster-Hayne
Debate (1830)
Sen. Daniel
Webster
[MA]
Sen. Robert
Hayne
[SC]
1830: Nationalism v.
Sectionalism
Webster:
“Liberty and Union, now and
forever, one and inseparable.”
Calhoun:
“The Union, next to our liberty,
most dear.”
Jackson:
“Our Federal Union—it must be
preserved.”
1832 Tariff Conflict
3
1832  new tariff
3
SC reaction
3
Jackson’s response
3
Clay’s
“Compromise” Tariff
3
Martial Law (Force Bill)
Land & Indian
Quincy
Adams:
Policies
3
 Land policies favored Indians
 Curb speculation
 Indians (autonomous, foreign
nations)
Indian Removal
3
Jackson’s Goal?
3
1830  Indian Removal Act
3
Worcester v. GA (1832)
3
Jackson:
“John Marshall has made his
decision, now let him enforce it!”
The Cherokee Nation
After 1820
Indian Removal
Trail of Tears (18381839)
Grand National Caravan
Moving West
Jackson’s Use of
Federal Power
The National Bank
Debate
VETO
1830  Maysville Road
Project in KY [state of
his political rival, Clay]
Nicholas
Biddle
[an arrogant
aristocrat from PA]
President
Jackson
Opposition to the 2nd
B.U.S.
“Soft”
(paper) $
“Hard”
(specie) $
3
National regulation
3
Coins were real $$
3
Supported rapid
economic growth
3
“Anything you can
bite”
3
Stimulate economy
3
3
Land speculation
Bank notes
diminished value of
$$
3
Credit
3
The “Monster” Is
Destroyed!
“Pet Banks”
3
1832  Jackson
vetoed 2nd US
bank re-charter
3
1836  charter expired
3
1841  bank went bankrupt!
Suspicious of
speculation
3
Downfall of “Mother
Bank”
1832
Cartoo
n:
“King
Andre
w”?
Positions on the Key
Issues of 1832
WHIGS
• Less concerned about the
widening gap between rich
and poor.
• Opposed “liberal capitalism”
•
•
•
•
because they believed it
would lead to economic
chaos.
Strong national govt. to
coordinate the expanding
economy was critical.
Opposes Indian removal.
Favored tariffs.
Supported a National Bank.
DEMOCRATS
• Felt the widening gap
between rich and poor was
alarming.
• Believed that bankers,
•
•
•
•
•
•
merchants, and speculators
were “non-producers” who
used their govt. connections
to line their own pockets.
Govt. should have a handsoff approach to the economy
to allow the little guy a
chance to prosper.
For Indian removal.
Oppose tariffs.
States’ rights.
Oppose federal support for
internal improvements.
Opposed the National Bank.
1832 Election
Results
1836 Election
Results
Specie Circular
3 Speculators
created “wildcat
(1836)
banks” ; fueled runaway
inflation
3
Fed. Land (W.) only bought
w/ gold, silver
 This move shocked the system.
Martin Van Buren
“Old Kinderhook”
Results of the Specie
$ Banknotes
lose value
Circular
$ Land sales plummeted
3
Jackson’s goal 
curb speculation
The Panic of 1837
Hits Everyone!
$ Credit not available
$ Businesses began to fail
$ Unemployment rose
Panic of 1837!
The Panic of 1837
Spreads Quickly!
Andrew Jackson in
Retirement
Photo of Andrew
Jackson in 1844
(one year before his death)
1767 - 1845