Prosperity and Panic
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| inflation | an increase in prices and a decrease in the value of money; it costs more money than before inflation to buy the same thing
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| Martin Van Buren | Jackson's vice president; he was elected president after Jackson left
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| Panic of 1837 | a widespread fear about the state of the economy; people took their paper money to the banks and demanded gold or silver; this happened after Jackson left office and Van Buren was President
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| depression | a severe economic slump; caused much hardship; people had little money; factories closed; lots of people did not have jobs; people went hungry and were homeless; was worse in the cities than in the country
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| Whig Party | Henry Clay, Daniel Webster, and other Jackson opponents formed this political party; it was against the concentration of power in the president; called President Andrew "King Andrew"
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| William Henry Harrison | In 1840 the Whig party chose him to run for president. He had been a hero in the War of 1812 and had led the army that defeated the Shawnees in 1811 at the Battle of Tippecanoe; Whig election slogan was "Tippecanoe and Tyler too"; he won the 1840 election
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| John Tyler | Harrison's vice president; he became president after Harrison died shortly after becoming president
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| Policy Toward Native Americans | (1) white settlers wanted Native Amer. lands (2) Pres. Jackson proposed Indian Removal Act of 1830, (3) thousands of Nat. Amer. removed to Indian Territory
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| Conflict Over State's Rights | (1) Sectional differences developed, (2) Jackson supported strong central gov't, (3) South Carolina threatened to secede over tariff issue, but a compromise was reached.
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| Nicholas Biddle | president of the powerful Second Bank of the U.S.
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| Jackson's War on the Bank | Pres. Jackson hated the bank and Nicholas Biddle. Set out to destroy the bank. As a result, the bank eventually went out of business but the war on the bank damaged the US economy
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Created by:
Triana Silliman
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