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The Whig party was a party that formed for those who opposed Jackson's views. It was created in the 1830s and the 1840s. When Jackson was elected, Clay and Calhoun formed a party for those who opposed Democratic views. The first Whig to become president was Harrison in the 1840 election. Whigs thought that Jackson's views were selfish.
were state banks; existed in the 1830's; state banks that received federal funds from Jackson. These funds were from the removal of the deposits in the BUS in order to insure of the bank's demise when its charter ran out. These banks then loaned money and printed paper to increase spending, which lead to inflation. Jackson attempts to stop this inflation with the Specie Circular, which lead to the Panic of 1837
The Anti-Masonic Party was a third political party that developed during the campaign of 1832 because of the fierce debate between Henry Clay and Andrew Jackson. This party also developed as opposition to the Masons (secret societies). It gained support from evangelical Protestant groups and people who were neglected by Jackson; however, it never took a majority position in elections.
Martin Van Buren passed the "Divorce Bill" in 1840 which created an independent treasury that took the government's funds out of the pet banks that Jackson created and put them in vaults in several of the largest cities. This way the funds would be safe from inflation and denied to the state banks as revenue.
Lone Star State - Texas was first ruled by Spain for over 300 years as a part of Mexico. When Mexico became an independent country in 1821, Texas became a Mexican State and new settlers from the United States were welcomed . The large influx of Americans led to skirmishes with Mexican troops. After a successful war of independence against Mexico, Texans raised the Lone Star flag over their own republic in 1836. Their government was recognized by the United States and several other European countries.
The federal bank of US was first created in 1791under Hamilton's economic plan. In 1816, the Bank of US's charter was renewed. Because of the economic recession of the 1810's, the bank suffered great mismanagement until 1822 when Nicholas Biddle, a Philadelphia financier, became its president. Andrew Jackson, in 1831, vetoed the charter act to renew the bank's charter which would expire in 1836. This made the government to store all its funds to the state banks (aka King Andrew's pet banks).
bill proposed by Martin Van Buren; idea: federal money in a separate bank vault so it would not be connected with the ups and downs of the federal economy; barley pass in 1840 by Democrats, then repealed when Whigs came into power a year later.
They lived in Florida. They waged a seven years war against the Americans to try and remain in the east instead of being forcibly removed to the west. They were tricked into a truce where their chief Osceola was captured. Most were moved to Oklahoma while others remained hidden in the everglades.
Bill passed by the Congress in 1833. (aka "Bloody Bill" to the southerners) This bill allows the US president to use the Army and the Navy to collect federal tariff duties. (If necessary) It is an attachment to the Nullification Crisis during this time.
Nations first economic depression. Banks loaned too much money out for Western expansion and they began to fail one by one. Hardship was acute and widespread and hundreds of banks collapsed. Martin Van Buren (who was president at the time) tried to "divorce" the government from banking altogether. This idea was not highly supported but the Independent Treasury Bill passed congress in 1840. Although the Whigs repealed it the next year, the scheme was reenacted by the democrats in 1846.
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