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Second Bank
Madison created the second bank to help the economic state of the United States even though he originally opposed the creation of another bank when he got in office. -
Panic of 1819
Financial crisis that swept across the United States. During this crisis, unemployment to sky rocket, banks failed, and westward expansion collapsed. -
McCulloch v. Maryland
In this case, the question of whether or not Maryland could tax the Second Bank of the United States. In this case, the Supreme Court ruled that Congress had the right build a national bank. I was also decided that individual states can not tax a federal bank. -
Election of 1832
Jackson, who advocated against the national bank, won the election against Henry clay, who advocated for the national bank. -
Whig Party Creation
The Whig Party was an American political party formed by Henry Clay to oppose President Andrew Jackson and the Democrats. The Whigs party stood for protective tariffs, favored the national bank, and federal aid for internal improvements. -
End of Second National Bank
The end of the Second National Bank occurred with Jackson ordering all federal funds to be removed and all deposits of federal money to stop. -
Creation of Pet Banks
Pet banks were state ran banks created to allow Jackson so have a place to deposit federal funds. These banks were given more power because they loyal to President Andrew Jackson. -
Panic of 1837
Another financial crisis that spread panic across the United States. This crisis was caused by banking and real estate issues. -
Election of 1840
In this election, William Henry Harrison, General of the Whigs, defeated Democratic President Martin Van Buren.