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jackson-pier - Jackson-Pierce Outline I Jackson Democrat A...

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Jackson-Pierce Outline. I. Jackson- Democrat A. Jackson & US Bank i. Reasons of Dislike 1. Thought it violated the constitution 2. Started the bank war 3. thought it acted as a monopoly 4. thought it only benefited the elite and hindered the poor 5. thought it made the US vulnerable to foreign control by foreign stock holders ii. What he did: 1. Vetoed the Bank 2. withdrew all federal funds 3. redeposited in state banks 4. issued SPECIE CIRCULAR: payments for govt land only in specie bc paper was unstable 5. specie circular caused deflation because it devalued paper money. B. Jackson and the Native Americans i. Indian Removal Act 1. Jackson saw them as competitors for ownership of the land 2. white settlers claimed a greater right to the land 3. forced to move west of the Mississippi river 4. journey:Trail of Tears 5. Tension will worsen until after the Civil War 6. Justification: a. They are uncivilized people b. We are doing them a favor giving them better land west of the Mississippi c. “preserve their culture”- believe that they are too close to the white settlements 7. People did feel sorry for the them because they were very upset for leaving their land 8. they left to be free 9. believed that we gave the Indians a suitable country to live in out of the way of the United States union II. Van Buren- Democrat A. Independent Treasury i. President during the Panic of 1837 due to Jackson’s actions- national bank and paper currency ii. Never lived up to Jackson’s fierceness 1. portrayed as weak
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iii. Established a system of Independent subtreasuries-financial institutions that were independent of any banks. iv. Subtreasuries in a few cities for safekeeping of federal funds v. Independent treasury system is independent of any banking system vi. No private banks would hold gov money vii. Gov and banks would be “divorced” viii. Basically recreated a united states bank through the subtreasuries ix. Tried to keep the gov funds safe from loss through fraud and mismanagement III. Harrison- Whig A. Significance of 1840 election i. Went from Democratic Presidents to Whig party ii. Clay organized Whig party iii. Tyler- running mate iv. High voter turnout- over 80% B. Strategies i. Slogan ii. Penny press iii. Media iv. Cartoons v. Universal appeal vi. Public gatherings vii.
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