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1832 Bank Recharter Bill
This was a bill that allowed the second bank to be rebuilt because, the first one had been destroyed. A week later Andrew Jackson vetoed it. This affected the southerners because the bank was believed to help the Northerners but with Jackson as the president, and Jackson being a southerner supporter the bank did not last long. -
Jackson's Veto
This was Andrew Jackson vetoing the bill that proposed a second bank. This gave the south an identity and they then had a value in the government. -
Election of 1832
In this election Henry Clay lost to Andrew Jackson. This showed that the South was getting more and more power and soon they could possibly rule the North if they played their cards right. -
Biddle Response
This was Nicholas Biddle's response to Jackson removing all federal deposits. Biddle countered Jackson and started to create state bank notes. Biddle thought he would be a hero for solving the financial problems when they occurred. This intensified the rivalry between the North and the South because they both kept going at each other and reversing the other sides decision -
Jackson Removes Federal Deposits
Jackson continued in his plan of the second bank. He went above and beyond as to completely abolish Federal Deposits that helped the North. This was seen as an unfair advantage to the North over the South. -
Jackson's Pet Banks
This was an attempt to remove the federal Banks by creating smaller state banks that would later be small enough to kill and eliminate banks altogether. The creation of seven major pet banks resulted in a outbreak of small pet banks and soon there was more than ninety of them. The pet banks heated Nicholas Bittle and pushed them to have more rivalry. -
Speculative Boom
This was a way of people believing that the economy is booming, or doing very well. This was not true though because the economy was not doing as well as they thought and it led to a downfall of the economy. -
Specie Circular
This was a time when Andrew Jackson required gold/silver to be the only form of payment because it never lost its value. Although people were disappointed, this was really good for the US because, it helped in establishing a currency -
Crash of 1837
Also know as the panic of 1837 was a time whenever people were paid less, and things were costing more. Unemployment was high because of how expensive labor was. This problem had to solve its self. This affected the North and the South. This was a big problem for both sides.
