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President Jackson sent his first annual message to Congress
Members of Congress reacted negatively to Jackson’s message -
Jackson's veto
Jackson had vetoed a bill calling for an early renewal of the Second Bank’s charter -
Federal funds would no longer be deposited in the Bank of the United States
He began placing them in various state banks; by the end of 1833, twenty-three ‘pet banks’ (as they were popularly known) had been selected. -
Jackson's specie circular of 1836
a United States presidential executive order issued by President Andrew Jackson in 1836 pursuant to the Coinage Act and carried out by his successor, President Martin Van Buren. It required payment for government land to be in gold and silver. -
Panic of 1837
Financial crisis in the United States that touched off a major recession. Profits, prices, and wages went down while unemployment went up.