-
2nd Charter Bank
after the first national bank's charter expired the states became overwhelmed. This bank was the second federal Hamiltonian bank in the U.S and it was located inside of Philadelphia. This bank was chartered for 20 years -
Jackson Veto
Jackson always had distrusted the national bank, so when the bank's supporters pushed for renewal he vetoed it saying no to monopoly and special privilege. -
election 1832
Presidential election 1832- this was the 12th presidential election in which Democrat Andrew Jackson defeated Henry Clay. Andrew Jackson sailed to an easy victory over Clay. -
Pet banks
President Jackson ordered an end to deposits of government money into the bank and stopped withdrawals already there. They then put it's money into smaller, local, state banks called “Pet banks' ', fueling westward expansion. -
Period: to
Creation of the “whigs” & election of 1836
The Whigs were the political opponents of Andrew Jackson. Their whole manner was opposite of Jackson in which they considered a “Monarchical rule”. They were led by Henry Clay and Daniel Webster who were considered the brilliant ones. But they were too divided to send someone to the election coming in 1836, won by Martin Van Buren. -
Economic depression 1837
This economic depression also known as “the panic of 1837” was a financial crisis for the U.S. In this depression profits, prices, and wages decreased significantly. During this depression everything Van Buren did raised no enthusiasm or happiness but Jackson did. -
Election 1840
this was the 14th presidential election and the country was already going through times from the economic depression before. In this election Whig candidate William Harrison who was already popular from the war of 1812 won. The vice president was John Tyler. William Harrison died in the beginning of his term though, resulting in John Tyler taking over.