Andrew Jackson: Bank War, Democracy, and Tariff Crisis

Andrew Jackson strongly opposed the power of the National Bank, which he believed prevented state banks from issuing too much paper money. Jackson felt that the National Bank primarily benefited wealthy bankers in the North and expansion-minded investors. In 1832, Jackson vetoed the renewal of the National Bank's charter, a move that significantly contributed to his election victory that year. He successfully persuaded a majority of Americans that the Bank was "subversive to the rights of the states." Middle-class Americans, in particular, celebrated Jackson's veto, as they believed it would provide them with greater opportunities for financial advancement. In 1833, Jackson appointed a new head to the Treasury Department and transferred federal gold and silver from the defunct National Bank to various state banks, giving these "pet banks" more control over the government's assets. This action sparked a political battle, with opponents like Henry Clay and Nicholas Biddle passing a resolution in the Senate to censure Jackson's use of veto power. While Jackson empowered state banks with national funds, his policies also laid the groundwork for a subsequent economic depression.

Jacksonian Democracy and the Common Man

Jacksonian democracy was a political movement that advocated for greater democracy in the American government during the 1830s. The movement championed stronger rights for the common man. Jackson proclaimed his support for the idea that all men are equal, regardless of financial status. This democratic movement was fueled by a strong desire for equality among people in the newer settlements of the West and South. The expansion of voting rights to men without property also contributed to its rise, as previously only wealthy male property owners were allowed to vote. Jackson's opposition to the National Bank, which he saw as primarily benefiting northerners and wealthy investors, exemplified this movement.

The Tariff Crisis

The Tariff Crisis occurred during Jackson's presidency and was an attempt to resolve issues stemming from the Tariff of 1828.

• Occurred during Jackson's presidency.
• Was an attempt to fix Adam's tariffs of 1828.
• He renewed the Tariff in 1832 but lowered it to 30%.
• John C. Calhoun developed the doctrine of nullification.

The crisis led to the Force Bill, which stated that if the South did not comply with the tariff, Jackson would enforce it using military force. To prevent this, Henry Clay proposed the Compromise Tariff of 1833.