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U.S 1. Election of 1836. Introduction of Whigs. Began in 1834 Brought together in opposition to “King” Andrew Jackson Jackson crushed National Republicans in 1828 and 1832 Whigs were made about: National Bank and tariffs in South Carolina Fiscal conservatives and states’ rights proponents.
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U.S 1 Election of 1836
Introduction of Whigs • Began in 1834 • Brought together in opposition to “King” Andrew Jackson • Jackson crushed National Republicans in 1828 and 1832 • Whigs were made about: National Bank and tariffs in South Carolina • Fiscal conservatives and states’ rights proponents
Election of 1836 • Vice- President Martin Van Buren of New York was who Jackson wanted to take over • Jackson was now 70 • Jacksonites supported Van Buren but not with enthusiasm • Whigs could not come up with a good presidential candidate
Strategy • Whig strategy was to run several different “favorite sons” each with a regional appeal • Hoped to scatter vote so no candidate would win a majority • Then vote would go to House of Rep. AGAIN • William Henry Harrison of Ohio, hero of Battle of Tippecanoe
“Little Magician” • Short, slender, bland and bald • Had resentment from many Democrats • More mild-mannered than Jackson • Inherited Jackson’s numerous enemies • Rebellion in Canada 1837 stirred up ugly incidents along northern frontier and threatened to trigger war with Britain! • http://www.youtube.com/watch?v=xWJQvvMFd5o&safety_mode=true&persist_safety_mode=1
Panic of 1837 • Economic Depression • Much of Van Buren’s energy was spent on battling the panic • Basic cause was rampant speculation from get-rich-quickism • But speculation alone didn’t cause the crash
Jacksonian finance • Jacksonian finance, included the Bank War and Specie Circular helped out the bad times • Failures of what crops, ravaging by Hessian fly deepened the distress • Grain prices were forced so high that mobs in NYC, 3 weeks before Van Buren took oath stormed warehouses and broke open flour barrels
Economics • Late in 1836 2 prominent British banks created tremors so British investors called in foreign loans • Resulted in pinch for U.S, combined with previous topics worsened the “depression” • American banks collapsed by the hundreds
Hard times • Factories closed their doors, unemployed workers mulled in streets • Whigs called for: expansion of bank credit, higher tarriffs, subsidies for internal improvements • Van Buren did not like those ideas
One foreign traveler 1837 • “The greatest annoyance I was subjected to in travelling was in exchanging money. It is impossible to describe the wretched state of currency- which is all bills issued by private individuals; companies; cities and states; almost all of which are bankrupt; or what amounts to the same thing, they cannot redeem their issues… and these do not pass out of the state, or frequently, out of the city”