The Log Cabin Democrat is a daily newspaper in Conway, Arkansas , United States, serving Conway and Faulkner County and some surrounding areas. It was founded in July 1879 as The Log Cabin . Its publisher is David Meadows, who also serves as the publisher of The Courier in Russellville .
160-413: The founding publisher, Able F. Livingston, was a former Whig Party member, who used the party's symbol — the log cabin — as the name for his new enterprise. Ownership changed a handful of times early in the newspaper's existence, eventually passing to the family of J.W. Robins in 1894. The Robins family continued to be involved with the newspaper directly for five generations. Along the way, J.W. Underhill,
320-576: A bank, it might emancipate a slave". Jackson was both the champion and beneficiary of the revival of the Jeffersonian North–South alliance. The Jacksonian movement reasserted the Old Republican precepts of limited government , strict construction , and state sovereignty . Federal institutions that conferred privileges producing "artificial inequality" would be eliminated through a return to strict constructionism. The "planter of
480-572: A bill that Jackson found acceptable, the President would "sign it without hesitation". In the words of historian Bray Hammond , "This was a very large 'if,' and the secretary came to realize it." Jackson decided that he had to destroy the Bank and veto the recharter bill. Many moderate Democrats, including McLane, were appalled by the perceived arrogance of the pro-Bank forces in pushing through early recharter and supported his decision. Indeed, Livingston
640-516: A creditor would argue that he was performing a service and was entitled to profit from it. Biddle joined most observers in predicting that Jackson would veto the bill. Not long after, Jackson became ill. Van Buren arrived in Washington on July 4, and went to see Jackson, who said to him, "The Bank, Mr. Van Buren, is trying to kill me, but I shall kill it." Contrary to the assurances Livingston had been rendering Biddle, Jackson determined to veto
800-527: A direct successor to that party, and many Whig leaders, including Henry Clay, had aligned with the rival Democratic-Republican Party . In the 1836 presidential election , four different Whig candidates received electoral votes , but the party failed to defeat Jackson's chosen successor, Martin Van Buren . Whig nominee William Henry Harrison unseated Van Buren in the 1840 presidential election but died one month into his term. Harrison's successor, John Tyler,
960-607: A firm stance on slavery , but Northern Whigs tended to be less supportive than their Democratic counterparts. The Whigs emerged in the 1830s in opposition to President Andrew Jackson , pulling together former members of the National Republican Party , the Anti-Masonic Party , and disaffected Democrats. The Whigs had some weak links to the defunct Federalist Party , but the Whig Party was not
1120-558: A former Democrat, broke with the Whigs in 1841 after clashing with Clay and other party leaders over economic policies such as the re-establishment of a national bank . Clay clinched his party's nomination in the 1844 presidential election but was defeated by Democrat James K. Polk , who subsequently presided over the Mexican–American War . Whig nominee Zachary Taylor won the 1848 presidential election , but Taylor died in 1850 and
1280-597: A joint resolution providing for the annexation of Texas, and Texas subsequently became a state in 1845. Following the annexation of Texas, Polk began preparations for a potential war with Mexico , which still regarded Texas as a part of its republic and contended that Texas's true southern border was the Nueces River rather than the Rio Grande . After a skirmish known as the Thornton Affair broke out on
1440-527: A major readjustment to the relative powers of the government branches. The executive branch, Jackson averred, when acting in the interests of the American people, was not bound to defer to the decisions of the Supreme Court, nor to comply with legislation passed by Congress. He believed that the Bank was unconstitutional and that the Supreme Court, which had declared it constitutional, did not have
1600-667: A man for a stormy sea and a lee shore". Biddle believed that the Bank had the right to operate independently from Congress and the Executive, writing that "no officer of the Government, from the President downwards, has the least right, the least authority" to meddle "in the concerns of the Bank". The end of the War of 1812 was accompanied by an increase in white male suffrage. Most states abolished their property ownership requirements for voting, meaning that nearly all white male adults in
1760-486: A multi-year, interregional public relations campaign designed to secure a new Bank charter. He helped finance and distribute thousands of copies of pro-B.U.S. articles, essays, pamphlets, philosophical treatises, stockholders' reports, congressional committee reports, and petitions. One of the first orders of business was to work with pro-B.U.S. Jacksonians and National Republicans in Congress to rebut Jackson's claims about
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#17327936833191920-486: A national scale. The goal behind the B.U.S. was to stabilize the American economy by establishing a uniform currency and strengthening the federal government. Supporters of the Bank regarded it as a stabilizing force in the economy due to its ability to smooth out variations in prices and trade, extend credit, supply the nation with a sound and uniform currency, provide fiscal services for the treasury department, facilitate long-distance trade, and prevent inflation by regulating
2080-598: A one-time owner of The Log Cabin , purchased assets of a smaller Conway newspaper, The Democrat , which operated from 1881 to 1885 and had been revived in 1899. Underhill married into the Robins family, and the two papers merged as The Log Cabin Democrat in late 1900. The daily edition of the newspaper debuted in 1908 in conjunction with coverage of the opening of the Arkansas Normal School, later renamed
2240-402: A platform on banking and finance reform, because to do so "might upset Jackson's delicately balanced coalition". Jackson and other advocates of hard money believed that paper money was part of "a corrupting and demoralizing system that made the rich richer, and the poor poorer". Gold and silver was the only way of having a "fair and stable" currency. The aversion to paper money went back before
2400-490: A political liability—recharter would easily pass both Houses with simple majorities—and as such, would confront him with the dilemma of approving or disapproving the legislation ahead of his reelection. A delay would obviate these risks. Jackson remained unconvinced of the Bank's constitutionality. Jackson acceded to McLane's pleas for the upcoming annual address to Congress in December, assuming that any efforts to recharter
2560-487: A purveyor of corruption and fraudulent republicanism, and a menace to American democracy. At the heart of the campaign was the conviction that Andrew Jackson had been denied the presidency in 1824 only through a "corrupt bargain"; a Jackson victory promised to rectify this betrayal of the popular will. Although slavery was not a major issue in Jackson's rise to the presidency, it did sometimes factor into opposition to
2720-513: A reform package. The product presented to Jackson included provisions through which the federal government would reduce operations and fulfill one of Jackson's goals of paying down the national debt by March 1833. The debt added up to approximately $ 24 million, and McLane estimated that it could be paid off by applying $ 8 million through the sale of government stock in the Bank plus an additional $ 16 million in anticipated revenue. The liquidation of government stock would necessitate substantial changes to
2880-475: A renewal of the Bank's twenty-year charter four years before the charter was set to expire, intending to pressure Jackson into making a decision prior to the 1832 presidential election , in which Jackson would face Clay. When Congress voted to reauthorize the Bank, Jackson vetoed the bill. His veto message was a polemical declaration of the social philosophy of the Jacksonian movement that pitted "the planters,
3040-430: A reprieve on the Bank's fate. The following day, McLane delivered his report to Congress. The report praised the Bank's performance, including its regulation of state banks, and explicitly called for a post-1832 rechartering of a reconfigured government bank. The enemies of the Bank were shocked and outraged by both speeches. The Jacksonian press, disappointed by the president's subdued and conciliatory tone towards
3200-408: A resolution to investigate allegations that the Bank had violated its charter. The intent was to put pro-Bank forces on the defensive. These delaying tactics could not be blocked indefinitely since any attempt to obstruct the inquiry would raise suspicions among the public. Many legislators benefited from the largesse supplied by Bank administrators. The plan was approved, and a bipartisan committee
3360-664: A separate proposal which included the admission of California as a free state, the cession by Texas of some of its northern and western territorial claims in return for debt relief, the establishment of New Mexico and Utah territories, a ban on the importation of slaves into the District of Columbia for sale, and a more stringent fugitive slave law. Taylor died in July 1850 and was succeeded by Vice President Fillmore. In contrast to John Tyler, Fillmore's legitimacy and authority as president were widely accepted by members of Congress and
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#17327936833193520-405: A single alternate institution that would regulate currency and prevent over-speculation—the primary purposes of the B.U.S. The practical implications of the veto were enormous. By expanding the veto, Jackson claimed for the president the right to participate in the legislative process. In the future, Congress would have to consider the president's wishes when deciding on a bill. The veto message
3680-470: A source of credit for the US government, and as the only chartered interstate bank, but lacked the powers of a modern central bank : It did not set monetary policy , regulate private banks, hold their excess reserves , or act as a lender of last resort , and could issue only money backed by its capitalization and not fiat money . President Madison and Treasury Secretary Albert Gallatin supported recharter of
3840-580: A strict constructionist view of the Constitution , while Clay and Adams favored high tariffs and the national bank; regionalism played a central role, with Jackson strongest in the West. Jackson won a plurality of the popular and electoral vote in the 1824 election, but not a majority. The House of Representatives had to decide. Speaker Clay supported Adams, who was elected as president by the House, and Clay
4000-542: A substitute national bank. These plans may have reflected a desire to transfer financial resources from Philadelphia to New York and other places. Biddle carefully explored his options for persuading Jackson to support recharter. He approached Lewis in November 1829 with a proposal to pay down the national debt. Jackson welcomed the offer and personally promised Biddle he would recommend the plan to Congress in his upcoming annual address, but emphasized that he had doubts as to
4160-556: A treaty with Mexico. Democratic Congressman David Wilmot of Pennsylvania offered an amendment known as the Wilmot Proviso , which would ban slavery in any newly acquired lands. The Wilmot Proviso passed the House with the support of both Northern Whigs and Northern Democrats, breaking the typical pattern of partisan division in congressional votes, but it was defeated in the Senate. Nonetheless, clear divisions remained between
4320-596: A uniform and sound currency". He went on to argue that if such an institution was truly necessary for the United States, its charter should be revised to avoid constitutional objections. Jackson suggested making it a part of the Treasury Department. Many historians agree that the claim regarding the Bank's currency was factually untrue. According to historian Robert V. Remini , the Bank exercised "full control of credit and currency facilities of
4480-441: A veto, which they hoped would damage Jackson and lead to his defeat. They did however assure Biddle that Jackson would not veto the bill so close to the 1832 election. The proposals included some limited reforms by placing restrictions on the Bank's powers to own real estate and create new branches, give Congress the ability to prevent the Bank from issuing small notes, and allow the president to appoint one director to each branch of
4640-515: A victory for the people against an elitist institution. Jackson won another decisive victory in the 1832 presidential election , taking 55 percent of the national popular vote and 88 percent of the popular vote in the slavery states south of Kentucky and Maryland. Clay's defeat discredited the National Republican Party, encouraging those opposed to Jackson to seek to create a more effective opposition party. Jackson, by 1832,
4800-550: Is as bad as it can possibly be—a new version of Alexander Hamilton's reports on a National Bank and manufacturers, and totally unsuited to this age of democracy and reform." Secretary of the Senate Walter Lowrie described it as "too ultra federal". The Globe refrained from openly attacking Secretary McLane, but in lieu of this, reprinted hostile essays from anti-Bank periodicals. After this, McLane secretly tried to have Blair removed from his position as editor of
4960-624: The American Revolution . Inflation caused during the Revolutionary War by printing enormous amounts of paper money added to the distrust, and opposition to it was a major reason for Hamilton's difficulties in securing the charter of the First Bank of the United States. Supporters of soft money tended to want easy credit. Aspiring entrepreneurs, a number of them on the cotton frontier in the American southwest, resented
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5120-694: The Federalist Party , led by Alexander Hamilton , and the Democratic-Republican Party , led by Thomas Jefferson . After 1815, the Democratic-Republicans emerged as the sole major party at the national level but became increasingly polarized. A nationalist wing led by Henry Clay favored policies such as the Second Bank of the United States and the implementation of a protective tariff . A second group,
5280-488: The Globe reported these efforts by the B.U.S. president in the legislative process as evidence of the Bank's corrupting influence on free government. After months of debate and strife, pro-B.U.S. National Republicans in Congress finally prevailed, winning reauthorization of the Bank's charter in the Senate on June 11 by a vote of 28 to 20. The House was dominated by Democrats, who held a 141–72 majority, but it voted in favor of
5440-436: The Globe . Jackson found out about this after Blair offered to resign. He assured Blair that he had no intention of replacing him. Troubled by accusations that he had switched sides, Jackson said, "I had no temporizing policy in me." Although he did not fire McLane, he kept him at a greater distance. Taney's influence meanwhile continued to grow, and he became the only member of the President's official cabinet to be admitted to
5600-451: The King of Great Britain at the time of the American Revolution . Jackson's decision to remove government deposits from the national bank ended any possibility of a Webster-Jackson alliance and helped to solidify partisan lines. The removal of the deposits drew opposition from both pro-bank National Republicans and states' rights Southerners like Willie Person Mangum of North Carolina,
5760-776: The Old Republicans , opposed these policies, favoring a strict interpretation of the Constitution and a weak federal government. In the 1824 presidential election , Speaker of the House Henry Clay , Secretary of the Treasury William H. Crawford , Secretary of State John Quincy Adams , and General Andrew Jackson all sought the presidency as members of the Democratic-Republican Party. Crawford favored state sovereignty and
5920-637: The Panic of 1837 struck the nation. Land prices plummeted, industries laid off employees, and banks failed. According to historian Daniel Walker Howe , the economic crisis of the late 1830s and early 1840s was the most severe recession in U.S. history until the Great Depression . Van Buren's economic response centered on establishing the Independent Treasury system, essentially a series of vaults that would hold government deposits. As
6080-506: The Supreme Court ruled that the Bank was both constitutional and that, as an agent of the federal government, it could not be taxed. In 1819, Monroe appointed Nicholas Biddle of Philadelphia as Government Director of the Bank. In 1823, he was unanimously elected its president. According to early Jackson biographer James Parton , Biddle "was a man of the pen—quick, graceful, fluent, honorable, generous, but not practically able; not
6240-548: The University of Central Arkansas . The newspaper's main office has been on downtown Conway's Front Street since 1980, after operating from offices on Oak Street for 80 years. In addition to its primary print edition, the newspaper publishes several secondary products. Since its online debut in 1997, TheCabin.net has been augmented with multiple specialty websites through Morris DigitalWorks, covering niches such as dining, wedding planning, and local entertainment. The newspaper
6400-555: The annexation of Texas his key priority. The annexation of Texas was widely viewed as a pro-slavery initiative as it would add another slave state to the union, and most leaders of both parties opposed opening the question of annexation in 1843 due to the fear of stoking the debate over slavery. Tyler was nonetheless determined to pursue annexation because he believed that the British conspired to abolish slavery in Texas and because he saw
6560-496: The "birth of the Whig Party" can be dated to Clay and his allies taking control of the Senate in December 1833. The National Republicans, including Clay and Webster, formed the core of the Whig Party, but many Anti-Masons like William H. Seward of New York and Thaddeus Stevens of Pennsylvania also joined. Several prominent Democrats defected to the Whigs, including Mangum, former Attorney General John Berrien , and John Tyler of Virginia. The Whig Party's first significant action
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6720-586: The Adams administration's nationalist agenda, becoming informally known as "Jacksonians". Due in part to the superior organization (by Martin Van Buren) of the Jacksonians, Jackson defeated Adams in the 1828 presidential election , taking 56 percent of the popular vote. Clay became the leader of the National Republican Party , which opposed President Jackson. By the early 1830s, the Jacksonians organized into
6880-550: The B.U.S. Many people demanded more limited Jeffersonian government, especially after revelations of fraud within the Bank and its attempts to influence elections. Andrew Jackson , previously a major general in the United States Army and former territorial governor of Florida , sympathized with these concerns, privately blaming the Bank for causing the Panic by contracting credit. In a series of memorandums, he attacked
7040-401: The Bank as a "moneyed tribunal" and argued for "a hard money policy against a paper money policy". After the speech was over, National Republican Senator Daniel Webster of Massachusetts called for a vote to end discussions on the Bank. It succeeded by a vote of 23 to 20, closer than he would have liked. According to Benton, the vote tally was "enough to excite uneasiness but not enough to pass
7200-483: The Bank emerged from the White House. Jackson's cabinet members were opposed to an overt attack on the Bank. The Treasury Department maintained normal working relations with Biddle, whom Jackson reappointed as a government director of the Bank. Lewis and other administration insiders continued to have encouraging exchanges with Biddle, but in private correspondence with close associates, Jackson repeatedly referred to
7360-546: The Bank had interfered politically in the election of 1828 by supporting Adams. B.U.S. branch offices in Louisville, Lexington, Portsmouth, Boston, and New Orleans, according to anti-Bank Jacksonians, had loaned more readily to customers who favored Adams, appointed a disproportionate share of Adams men to the Bank's board of directors, and contributed Bank funds directly to the Adams campaign. Some of these allegations were unproven and even denied by individuals who were loyal to
7520-413: The Bank not because it printed paper money, but because it did not print more and loan it to them. Banks have to lend more money than they take in. When banks lend money, new money is actually created, which is called "credit". This money has to be paper; otherwise, a bank can only lend as much as it takes in and hence new currency cannot be created out of nothing. Paper money was therefore necessary to grow
7680-455: The Bank president that Jackson would not veto a recharter bill. McLane and Lewis, however, told Biddle that the chances of recharter would be greater if he waited until after the election of 1832. "If you apply now," McLane wrote Biddle, "you assuredly will fail,—if you wait, you will as certainly succeed." Most historians have argued that Biddle reluctantly supported recharter in early 1832 due to political pressure from Clay and Webster, though
7840-459: The Bank president was also considering other factors. Thomas Cadwalader, a fellow B.U.S. director and close confidant of Biddle, recommended recharter after counting votes in Congress in December 1831. In addition, Biddle had to consider the wishes of the Bank's major stockholders, who wanted to avoid the uncertainty of waging a recharter fight closer to the expiration of the charter. Indeed, Jackson had predicted in his first annual message of 1829 that
8000-404: The Bank promoted. Jackson cast himself in populist terms as a defender of original rights, writing: It is to be regretted that the rich and powerful too often bend the acts of government to their selfish purposes. Distinctions in society will always exist under every just government. Equality of talents, of education, or of wealth can not be produced by human institutions. In the full enjoyment of
8160-431: The Bank to reverse its tight money policies, but its chances of being rechartered were all but finished. The economy did well during Jackson's time as president, but his economic policies, including his war against the Bank, are sometimes blamed for contributing to the Panic of 1837 . The First Bank of the United States was established at the direction of Treasury Secretary Alexander Hamilton in 1791. Hamilton supported
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#17327936833198320-461: The Bank would not begin until after the election. McLane would then present his proposals for reform and delay of recharter at the annual Treasury Secretary's report to Congress shortly thereafter. Despite McLane's attempts to procure a modified Bank charter, Attorney General Roger B. Taney , the only member of Jackson's cabinet at the time who was vehemently anti-B.U.S., predicted that ultimately Jackson would never relinquish his desire to destroy
8480-430: The Bank's charter, which Jackson supported. After the liquidation of the debt, future revenues could be applied to funding the military. Another part of McLane's reform package involved selling government lands and distributing the funds to states, a measure consistent with Jackson's overall belief in reducing the operations of the central government. With this accomplished, the administration would permit re-authorization of
8640-416: The Bank's constitutionality. This left open the possibility that he could stymie the renewal of the Bank's charter should he win a second term. In his annual address to Congress on December 8, 1829, Jackson praised Biddle's debt retirement plan, but advised Congress to take early action on determining the Bank's constitutionality and added that the institution had "failed in the great end of establishing
8800-470: The Bank's currency. A March 1830 report authored by Senator Samuel Smith of Maryland served this purpose. This was followed in April by a similar report written by Representative George McDuffie of South Carolina. Smith's report stated that the B.U.S. provided "a currency as safe as silver; more convenient, and more valuable than silver, which ... is eagerly sought in exchange for silver". This echoed
8960-541: The Bank's federal deposits. In 1833, he arranged to distribute the funds to dozens of state banks. The new Whig Party emerged in opposition to his perceived abuse of executive power, officially censuring Jackson in the Senate . In an effort to promote sympathy for the institution's survival, Biddle retaliated by contracting Bank credit, inducing a mild financial downturn. A reaction set in throughout America's financial and business centers against Biddle's maneuvers, compelling
9120-492: The Bank's foreign stockholders, including the amount of shares they owned; would face stiff penalties if it held onto property for longer than five years, and would not issue notes in denominations of less than twenty dollars. Jacksonians argued that the Bank often cheated small farmers by redeeming paper with discounted specie, meaning that a certain amount was deducted. They alleged that this was unfair to farmers and allowed creditors to profit without creating tangible wealth, while
9280-585: The Bank's popularity, the Second Bank of the United States was not a major issue in the 1828 elections. In fact, Biddle voted for Jackson in the election. Jackson himself, though naturally averse to the Bank, had recommended the establishment of a branch in Pensacola . He also signed a certificate with recommendations for president and cashier of the branch in Nashville. The Bank had largely recovered in
9440-487: The Bank's public–private organization to be unconstitutional, and argued that the institution's charter violated state sovereignty . To them, the Bank symbolized corruption while threatening liberty. In early 1832, the president of the B.U.S., Nicholas Biddle , in alliance with the National Republicans under Senators Henry Clay (Kentucky) and Daniel Webster (Massachusetts), submitted an application for
9600-455: The Bank's stockholders would submit an early application to Congress. On January 6, 1832, bills for Bank recharter were introduced in both houses of Congress. In the House of Representatives, McDuffie, as Chairman of the Ways and Means Committee, guided the bill to the floor. Fellow Jacksonian George M. Dallas introduced the bill into the Senate. Clay and Webster secretly intended to provoke
9760-458: The Bank, launched fresh and provocative assaults on the institution. McLane's speech, despite its call for radical modifications and delay in recharter, was widely condemned by Jacksonians. They described it as "Hamiltonian" in character, accused it of introducing "radical modifications" to existing Treasury policy and attacked it as an assault on democratic principles. For example, Representative Churchill C. Cambreleng wrote, "The Treasury report
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#17327936833199920-410: The Bank. In 1815, Secretary of State James Monroe told President Madison that a national bank "would attach the commercial part of the community in a much greater degree to the Government [and] interest them in its operations…This is the great desideratum [essential objective] of our system." Support for this "national system of money and finance" grew with the post-war economy and land boom, uniting
10080-613: The Bank. The alliance between Biddle and Clay triggered a counter-offensive by anti-B.U.S. forces in Congress and the executive branch. Jackson assembled an array of talented and capable men as allies. Most notably, these were Thomas Hart Benton in the Senate and future president James K. Polk , member of the House of Representatives from Tennessee, as well as Blair, Treasury Auditor Kendall, and Attorney General Roger Taney in his cabinets. On February 23, 1832, Jacksonian Representative Augustin Smith Clayton of Georgia introduced
10240-407: The First Bank in 1811. They cited "expediency" and "necessity", not principle. Opponents of the Bank defeated recharter by a single vote in both the House and Senate in 1811. State banks opposed recharter of the national bank because when state bank notes were deposited with the First Bank of the United States, the Bank would present these notes to state banks and demand gold in exchange, which limited
10400-420: The House and Senate. Clay and Massachusetts Senator Daniel Webster warned Americans that if Jackson won reelection, he would abolish the Bank. They felt secure that the B.U.S. was sufficiently popular among voters that any attack on it by the President would be viewed as an abuse of executive power . The National Republican leadership aligned themselves with the Bank not so much because they were champions of
10560-471: The Jacksonian movement, helped craft policy, and proved to be more anti-Bank than the official cabinet. In his second annual address to Congress on December 7, 1830, the president again publicly stated his constitutional objections to the Bank's existence. He called for a substitute national bank that would be wholly public with no private stockholders. It would not engage in lending or land purchasing, retaining only its role in processing customs duties for
10720-550: The North, Democrats benefited from the growing animosity towards the Whig Party among Catholic and foreign-born voters. Ultimately, Polk won the election, taking 49.5% of the popular vote and a majority of the electoral vote; the swing of just over one percent of the vote in New York would have given Clay the victory. In the final weeks of Tyler's presidency, a small group of Southern Whigs joined with congressional Democrats to pass
10880-412: The President harbored an antipathy toward all banks, several members of his initial cabinet advised a cautious approach when it came to the B.U.S. Throughout 1829, Jackson and his close advisor, William Berkeley Lewis , maintained cordial relations with B.U.S. administrators, including Biddle, and Jackson continued to do business with the B.U.S. branch bank in Nashville. The Second Bank's reputation in
11040-515: The President, but Jackson continued to receive news of the Bank's political meddling throughout his first term. To defuse a potentially explosive political conflict, some Jacksonians encouraged Biddle to select candidates from both parties to serve as B.U.S. officers, but Biddle insisted that only one's qualifications for the job and knowledge in the affairs of business, rather than partisan considerations, should determine hiring practices. In January 1829, John McLean wrote to Biddle urging him to avoid
11200-529: The Republican Party and enacted much of their American System. Presidents Abraham Lincoln , Rutherford B. Hayes , Chester A. Arthur , and Benjamin Harrison were Whigs before switching to the Republican Party, from which they were elected to office. It is considered the primary predecessor party of the modern-day Republicans . During the 1790s, the first major U.S. parties arose in the form of
11360-400: The Second Bank in 1836. In return, McLane asked that Jackson not mention the Bank in his annual address to Congress. Jackson enthusiastically accepted McLane's proposal, and McLane personally told Biddle about his success. Biddle stated that he would have preferred that Jackson, rather than remaining silent on the question of recharter, would have made a public statement declaring that recharter
11520-453: The Second Bank, specifically among those in the South who were suspicious of how augmented federal power at the expense of the states might affect the legality of slavery. Democrat Nathaniel Macon remarked, "If Congress can make banks, roads and canals under the Constitution, they can free any slave in the United States." In 1820, John Tyler of Virginia wrote that "if Congress can incorporate
11680-491: The South and the plain Republican of the North" would provide the support, with the aid of universal white male suffrage. In the end, Jackson won the election decisively, taking 56 percent of the popular vote and 68 percent of the electoral vote. The Jacksonian coalition had to contend with a fundamental incompatibility between its hard money and paper money factions, for which reason Jackson's associates never offered
11840-497: The Treasury Louis McLane of Delaware. McLane, a confidant of Biddle, impressed Jackson as a forthright and principled moderate on Bank policy. Jackson called their disagreements an "honest difference of opinion" and appreciated McLane's "frankness". The Treasury Secretary's goal was to ensure that the B.U.S. survived Jackson's presidency, even in a diminished condition. He secretly worked with Biddle to create
12000-502: The Treasury William M. Meredith issued a report calling for an increase in tariff rates, but not to the levels seen under the Tariff of 1842. Even Meredith's moderate policies were not adopted, and, partly due to the strong economic growth of the late 1840s and late 1850s, traditional Whig economic stances would increasingly lose their salience after 1848. When Taylor assumed office, the organization of state and territorial governments and
12160-412: The Treasury Department. The address signaled to pro-B.U.S. forces that they would have to step up their campaign efforts. On February 2, 1831, while National Republicans were formulating a recharter strategy, Jacksonian Senator Thomas Hart Benton of Missouri launched an attack against the legitimacy of the Bank on the floor of the Senate, demanding an open debate on the recharter issue. He denounced
12320-437: The United States were eligible to vote. Jackson, as a war hero, was popular with the masses. With their support, he ran for president in 1824 . The election turned into a five-way contest between Jackson, Calhoun, John Quincy Adams , William H. Crawford , and Clay. All were members of the Republican Party, which was still the only political party in the country. Calhoun eventually dropped out to run for vice president, lowering
12480-515: The Whig Party due to his lack of public commitment to Whig policies and his association with the Mexican–American War. In late 1847, Clay emerged as Taylor's main opponent for the Whig nomination, appealing especially to Northern Whigs with his opposition to the war and the acquisition of new territory. With strong backing from slavery-state delegates, Taylor won the presidential nomination on
12640-519: The Whigs included a distrust of behind-the-scenes political maneuvering by party bosses instead of encouraging direct appeals to the people through gigantic rallies, parades, and rhetorical rabble-rousing. Early successes in various states made many Whigs optimistic about victory in 1836, but an improving economy bolstered Van Buren's standing ahead of the election. The Whigs also faced the difficulty of uniting former National Republicans, Anti-Masons, and states' rights Southerners around one candidate, and
12800-461: The absolute necessity of a national banking system". The push for the creation of a new national bank occurred during the post-war period of American history known as the Era of Good Feelings . There was a strong movement to increase the power of the federal government. Some people blamed a weak central government for America's poor performance during much of the War of 1812. Humiliated by its opposition to
12960-531: The appearance of political bias in light of allegations of the Bank interfering on behalf of Adams in Kentucky. Biddle responded that the "great hazard of any system of equal division of parties at a board is that it almost inevitably forces upon you incompetent or inferior persons in order to adjust the numerical balance of directors". By October 1829, some of Jackson's closest associates, especially Secretary of State Martin Van Buren , were developing plans for
13120-474: The arguments of Calhoun during the charter debates in 1816. After the release of these reports, Biddle went to the Bank's board to ask for permission to use some of the Bank's funds for printing and dissemination. The board, which was composed of Biddle and like-minded colleagues, agreed. Another result of the reports was that the Bank's stock rose following the drop that it experienced from Jackson's remarks. In spite of Jackson's address, no clear policy towards
13280-442: The central bank. Indeed, he was convinced that Jackson had never intended to spare the Bank in the first place. Jackson, without consulting McLane, subsequently edited the language in the final draft after considering Taney's objections. In his December 6 address, Jackson was non-confrontational, but due to Taney's influence, his message was less definitive in its support for recharter than Biddle would have liked, amounting to merely
13440-441: The central government. Division during his administration led to the end of the single party era. Supporters of Adams began calling themselves National Republicans . Supporters of Jackson became known as Jacksonians and, eventually, Democrats . In 1828 , Jackson ran again. Most Old Republicans had supported Crawford in 1824. Alarmed by the centralization in the Adams administration, most of them flocked to Jackson. The transition
13600-538: The debate over the Independent Treasury continued, William Cabell Rives and some other Democrats who favored a more activist government defected to the Whig Party, while Calhoun and his followers joined the Democratic Party. Whig leaders agreed to hold the party's first national convention in December 1839 in order to select the Whig presidential nominee. By early 1838, Clay had emerged as
13760-508: The declaration of war against Mexico and also pushed through the restoration of the Independent Treasury System and a bill that reduced tariffs; opposition to the passage of these Democratic policies helped to reunify and reinvigorate the Whigs. In August 1846, Polk asked Congress to appropriate $ 2 million (~$ 60.7 million in 2023) in hopes of using that money as a down payment for the purchase of California in
13920-546: The disappearance and possible murder of William Morgan in 1826. The Anti-Masonic movement, strongest in the Northeast, gave rise to or expanded the use of many innovations which became an accepted practice among other parties, including nominating conventions and party newspapers. Clay rejected overtures from the Anti-Masonic Party, and his attempt to convince Calhoun to serve as his running mate failed, leaving
14080-422: The economy. Banks making too many loans would print an excess of paper money and deflate the currency. This would lead to lenders demanding that the banks take back their devalued paper in exchange for specie, as well as debtors trying to pay off loans with the same deflated currency, seriously disrupting the economy. Because of the failure to emphasize the distinction between hard money and paper money, as well as
14240-426: The economy. They argued that traditional Whig policies, such as the restoration of a national bank and the implementation of protective tariff rates, would help to restore the economy. With the economy still in a downturn, Harrison decisively defeated Van Buren, taking a wide majority of the electoral vote and just under 53 percent of the popular vote. With the election of the first Whig presidential administration in
14400-520: The farmers, the mechanic and the laborer" against the "monied interest", benefiting the wealthy at the expense of the common people. The B.U.S. became the central issue that divided the Jacksonians from the National Republicans. Although the Bank provided significant financial assistance to Clay and pro-B.U.S. newspaper editors, Jackson secured an overwhelming election victory. Fearing economic reprisals from Biddle, Jackson swiftly removed
14560-644: The federal government for widespread abuses and corruption. These included theft, fraud, and bribery, and they occurred regularly at branches of the National Bank. In Mississippi, the Bank did not open branches outside of the city of Natchez , making small farmers in rural areas unable to make use of its capital. Members of the planter class and other economic elites who were well-connected often had an easier time getting loans. According to historian Edward E. Baptist , "A state bank could be an ATM machine for those connected to its directors." One such example
14720-477: The federal level was deemed necessary by Republican nationalists to promote expansion and encourage private enterprise. At the same time, they tried to "republicanize Hamiltonian bank policy." John C. Calhoun , a representative from South Carolina and strong nationalist, boasted that the nationalists had the support of the yeomanry , who would now "share in the capital of the Bank". Despite opposition from Old Republicans led by John Randolph of Roanoke , who saw
14880-459: The fifth ballot of the 1839 Whig National Convention . For vice president, the Whigs nominated John Tyler, a former states' rights Democrat selected for the Whig ticket primarily because other Southern supporters of Clay refused to serve as Harrison's running mate. Log cabins and hard cider became the dominant symbols of the Whig campaign as the party sought to portray Harrison as a man of the people. The Whigs also assailed Van Buren's handling of
15040-450: The foundation of a national bank because he believed that it would increase the authority and influence of the federal government, effectively manage trade and commerce, strengthen the national defense, and pay the debt. It was subject to attacks from agrarians and constructionists led by Thomas Jefferson and James Madison . They believed that it was unconstitutional because the Constitution did not expressly allow for it, would infringe on
15200-497: The fourth ballot of the 1848 Whig National Convention . The Whigs nominated Millard Fillmore of New York, a pro-Clay Northerner, for vice president. Anti-slavery Northern Whigs disaffected with Taylor joined with Democratic supporters of Martin Van Buren and some members of the Liberty Party to found the new Free Soil Party ; the party nominated a ticket of Van Buren and Whig Charles Francis Adams Sr. and campaigned against
15360-401: The front-runner due to his southern support and spirited opposition to Van Buren's Independent Treasury. A recovering economy convinced other Whigs to support Harrison, who was generally seen as the Whig candidate best able to win over Democrats and new voters. With the crucial support of Thaddeus Stevens of Pennsylvania and Thurlow Weed of New York, Harrison won the presidential nomination on
15520-419: The gifts of Heaven and the fruits of superior industry, economy, and virtue, every man is equally entitled to protection by law; but when the laws undertake to add to these natural and just advantages artificial distinctions, to grant titles, gratuities, and exclusive privileges, to make the rich richer and the potent more powerful, the humble members of society-the farmers, mechanics, and laborers-who have neither
15680-426: The idealized "plain republican" and the "real people"—virtuous, industrious and free —against a powerful financial institution—the "monster" Bank, whose wealth was purportedly derived from privileges bestowed by corrupt political and business elites. Jackson's message distinguished between "equality of talents, of education, or of wealth", which could never be achieved, from "artificial distinctions", which he claimed
15840-480: The inner circle of advisors in the Kitchen Cabinet. National Republicans continued to organize in favor of recharter. Within days of Jackson's address, party members gathered at a convention on December 16, 1831, and nominated Senator Clay for president. Their campaign strategy was to defeat Jackson in 1832 on the Bank re-authorization issue. To that end, Clay helped introduce recharter bills in both
16000-537: The institution as being "a hydra of corruption" and "dangerous to our liberties". Developments in 1830 and 1831 temporarily diverted anti-B.U.S. Jacksonians from pursuing their attack on the B.U.S. Two of the most prominent examples were the Nullification Crisis and the Peggy Eaton Affair . These struggles led to Vice President Calhoun's estrangement from Jackson and eventual resignation,
16160-422: The institution, but more so because it offered what appeared to be the perfect issue on which to defeat Jackson. Administration figures, among them McLane, were wary of issuing ultimatums that would provoke anti-B.U.S. Jacksonians. Biddle no longer believed that Jackson would compromise on the Bank question, but some of his correspondents who were in contact with the administration, including McDuffie, convinced
16320-460: The interests of eastern financiers with southern and western Republican nationalists. The roots for the resurrection of the Bank of the United States lay fundamentally in the transformation of America from a simple agrarian economy to one that was becoming interdependent with finance and industry. Vast western lands were opening for white settlement, accompanied by rapid development, enhanced by steam power and financial credit. Economic planning at
16480-425: The issue as a means to reelection, either through the Democratic Party or through a new party. In April 1844, Secretary of State John C. Calhoun reached a treaty with Texas providing for the annexation of that country. Clay and Van Buren, the two front-runners for major-party presidential nominations in the 1844 election, both announced their opposition to annexation, and the Senate blocked the annexation treaty. To
16640-515: The issue of slavery more so than Democratic candidate Lewis Cass of Michigan. Ultimately, Taylor won the election with a majority of the electoral vote and a plurality of the popular vote. Taylor improved on Clay's 1844 performance in the South and benefited from the defection of many Democrats to Van Buren in the North. Reflecting the Taylor administration's desire to find a middle ground between traditional Whig and Democratic policies, Secretary of
16800-442: The latter of whom accused Jackson of flouting the Constitution. In late 1833, Clay began to hold a series of dinners with opposition leaders to settle on a candidate to oppose Martin Van Buren , the likely Democratic nominee in the 1836 presidential election . While Jackson's opponents could not agree on a single presidential candidate, they coordinated in the Senate to oppose Jackson's initiatives. Historian Michael Holt writes that
16960-537: The legislation was unconstitutional. Congress passed a second bill based on an earlier proposal made by Treasury Secretary Ewing that was tailored to address Tyler's constitutional concerns, but Tyler vetoed that bill as well. In response, every Cabinet member but Webster resigned, and the Whig congressional caucus expelled Tyler from the party on September 13, 1841. The Whigs later began impeachment proceedings against Tyler, but they ultimately failed to impeach him because they believed his likely acquittal would devastate
17120-433: The lending practices of state banks. Jacksonian Democrats cited instances of corruption and alleged that the B.U.S. favored merchants and speculators at the expense of farmers and artisans, appropriated public money for risky private investments and interference in politics, and conferred economic privileges on a small group of stockholders and financial elites, thereby violating the principle of equal opportunity. Some found
17280-548: The nation and adding to their strength and soundness". The Bank's currency circulated in all or nearly all parts of the country. Jackson's statements against the Bank were politically potent in that they served to "discharge the aggressions of citizens who felt injured by economic privilege, whether derived from banks or not". Jackson's criticisms were shared by "anti-bank, hard money agrarians" as well as eastern financial interests, especially in New York City, who resented
17440-413: The national bank's restrictions on easy credit. They claimed that by lending money in large amounts to wealthy well-connected speculators, it restricted the possibility for an economic boom that would benefit all classes of citizens. After Jackson made these remarks, the Bank's stock dropped due to the sudden uncertainty over the fate of the institution. A few weeks after Jackson's address, Biddle began
17600-409: The new Democratic Party . Despite Jackson's decisive victory in the 1828 election, National Republicans initially believed that Jackson's party would collapse once Jackson took office. Vice President Calhoun split from the administration in 1831. Still, differences over the tariff prevented Calhoun's followers from joining the National Republicans. Meanwhile, the Anti-Masonic Party formed following
17760-509: The northern side of the Rio Grande, Polk called on Congress to declare war against Mexico, arguing that Mexico had invaded American territory by crossing the Rio Grande. Many Whigs argued that Polk had provoked war with Mexico by sending a force under General Zachary Taylor to the Rio Grande, but only a minority of Whigs voted against the declaration of war as they feared that opposing the war would be politically unpopular. Polk received
17920-625: The number of candidates to four. Jackson won decisive pluralities in both the Electoral College and the popular vote. He did not win an electoral majority, which meant that the election was decided in the House of Representatives, which would choose among the top three vote-getters in the Electoral College. Clay finished fourth. However, he was also Speaker of the House , and he maneuvered the election in favor of Adams, who in turn made Clay Secretary of State, an office that in
18080-412: The opposition to Jackson split among different leaders when the National Republicans nominated Clay for president. Hoping to make the national bank a key issue of the 1832 election, the National Republicans convinced national bank president Nicholas Biddle to request an extension of the national bank's charter, but their strategy backfired when Jackson successfully portrayed his veto of the recharter as
18240-593: The partisan divisions that had emerged after 1824, as many within the Jacksonian coalition opposed President Jackson's threats of force against South Carolina, while some opposition leaders like Daniel Webster supported them. The name "Whig" was first suggested for Jackson's opponents by James Watson Webb , editor of the Courier and Enquirer of New York City. In South Carolina and other states, those opposed to Jackson began to form small "Whig" parties. The Whig label implicitly compared "King Andrew" to King George III ,
18400-428: The party suffered an early blow when Calhoun announced that he would refuse to support any candidate opposed to the doctrine of nullification. Northern Whigs cast aside both Clay and Webster in favor of General William Henry Harrison , a former senator who had led U.S. forces in the 1811 Battle of Tippecanoe . Though he had not previously been affiliated with the National Republicans, Harrison indicated that he shared
18560-462: The party's concerns over Jackson's executive power and favored federal investments in infrastructure. Southern Whigs coalesced around Senator Hugh Lawson White , a long-time Jackson ally who opposed Van Buren's candidacy. Ultimately, Van Buren won a majority of the electoral and popular vote in the 1836 election, though the Whigs improved on Clay's 1832 performance in the South and West. Shortly after Van Buren took office, an economic crisis known as
18720-542: The party's history, Clay and his allies prepared to pass ambitious domestic policies such as the restoration of the national bank, the distribution of federal land sales revenue to the states, a national bankruptcy law, and increased tariff rates. Harrison died just one month into his term, thereby elevating Vice President Tyler to the presidency. Tyler had never accepted much of the Whig economic program and he soon clashed with Clay and other congressional Whigs. In August 1841, Tyler vetoed Clay's national bank bill, holding that
18880-654: The party. Beginning in mid-1842, Tyler increasingly began to court Democrats, appointing them to his Cabinet and other positions. At the same time, many Whig state organizations repudiated the Tyler administration and endorsed Clay as the party's candidate in the 1844 presidential election . After Webster resigned from the Cabinet in May 1843 following the conclusion of the Webster-Ashburton Treaty , Tyler made
19040-716: The passage of the Kansas–Nebraska Act in 1854, with most Northern Whigs eventually joining the anti-slavery Republican Party and most Southern Whigs joining the nativist American Party and later the Constitutional Union Party . The last vestiges of the Whig Party faded away after the start of the American Civil War , but Whig ideas remained influential for decades. During the Lincoln Administration , ex-Whigs dominated
19200-416: The past had served as a stepping stone to the presidency. Jackson was enraged by this so-called " corrupt bargain " to subvert the will of the people . As president, Adams pursued an unpopular course by attempting to strengthen the powers of the federal government by undertaking large infrastructure projects and other ventures which were alleged to infringe on state sovereignty and go beyond the proper role of
19360-405: The power to do so without the "acquiescence of the people and the states". Further, while previous presidents had used their veto power, they had only done so when objecting to the constitutionality of bills. By vetoing the recharter bill and basing most of his reasoning on the grounds that he was acting in the best interests of the American people, Jackson greatly expanded the power and influence of
19520-560: The president. He characterized the B.U.S. as merely an agent of the executive branch, acting through the Department of the Treasury. As such, declared Jackson, Congress was obligated to consult the chief executive before initiating legislation affecting the Bank. Jackson had claimed, in essence, legislative power as president. Jackson gave no credit to the Bank for stabilizing the country's finances and provided no concrete proposals for
19680-461: The public eye partially recovered throughout the 1820s as Biddle managed the Bank prudently during a period of economic expansion. Some of the animosity left over from the Panic of 1819 had diminished, though pockets of anti-B.U.S. sentiment persisted in some western and rural locales. According to historian Bray Hammond, "Jacksonians had to recognize that the Bank's standing in public esteem was high." Unfortunately for Biddle, there were rumors that
19840-481: The public eye since the Panic of 1819 and had grown to be accepted as a fact of life. Its role in managing the nation's fiscal affairs was central. The Bank printed much of the nation's paper money, which made it a target for supporters of hard money, while also restricting the activities of smaller banks, which created some resentment from those who wanted easy credit. As of 1830, the Bank had $ 50 million (~$ 1.6 billion in 2023) in specie in reserve, approximately half
20000-532: The public. Fillmore accepted the resignation of Taylor's entire Cabinet and appointed Whig leaders like Crittenden, Thomas Corwin of Ohio, and Webster, whose support for the Compromise had outraged his Massachusetts constituents. With the support of Fillmore and an impressive bipartisan and bi-sectional coalition, a Senate bill providing for a final settlement of Texas's borders won passage shortly after Fillmore took office. Bank War The Bank War
20160-400: The recharter bill on July 3 by a tally of 107 to 85. Many Northern Democrats joined the anti-Jacksonians in supporting recharter. The final bill sent to Jackson's desk contained modifications of the Bank's original charter that were intended to assuage many of the President's objections. The Bank would have a new fifteen-year charter; would report to the Treasury Department the names of all of
20320-459: The recharter bill. The veto message was crafted primarily by members of the Kitchen Cabinet, specifically Taney, Kendall, and Jackson's nephew and aide Andrew Jackson Donelson . McLane denied that he had any part in it. Jackson officially vetoed the legislation on July 10, 1832, delivering a carefully crafted message to Congress and the American people. One of the most "popular and effective documents in American political history", Jackson outlined
20480-608: The replacement of all of the original cabinet members but one, as well as the development of an unofficial group of advisors separate from the official cabinet that Jackson's opponents began to call his " Kitchen Cabinet ". Jackson's Kitchen Cabinet, led by the Fourth Auditor of the Treasury Amos Kendall and Francis P. Blair , editor of the Washington Globe , the state-sponsored propaganda organ for
20640-410: The resolution". The Globe , which was vigorously anti-B.U.S., published Benton's speech, earning Jackson's praise. Shortly after, the Globe announced that the President intended to stand for reelection. After replacing most of his original cabinet members, Jackson included two Bank-friendly executives in his new official cabinet: Secretary of State Edward Livingston of Louisiana and Secretary of
20800-433: The revival of a national bank as purely Hamiltonian and a threat to state sovereignty, but with strong support from nationalists such as Calhoun and Henry Clay , the recharter bill for the Second Bank of the United States was passed by Congress. The charter was signed into law by Madison on April 10, 1816. The Second Bank of the United States was given considerable powers and privileges under its charter. Its headquarters
20960-417: The rights of the states, and would benefit a small group while delivering no advantage to the many, especially farmers. Hamilton's view won out and the Bank was created. More states and localities began to charter their own banks. State banks printed their own notes which were sometimes used out-of-state, and this encouraged other states to establish banks in order to compete. The bank, as established, acted as
21120-612: The rule of law, protections against majority rule, and vigilance against executive tyranny. They favored an economic program known as the American System , which called for a protective tariff , federal subsidies for the construction of infrastructure, and support for a national bank . The party was active in both the Northern United States and the Southern United States and did not take
21280-400: The same time, the prices of American goods abroad collapsed. This led to the failure of state banks and the collapse of businesses, turning what could have been a brief recession into a prolonged depression. Financial writer William M. Gouge wrote that "the Bank was saved and the people were ruined". After the Panic of 1819, popular anger was directed towards the nation's banks, particularly
21440-561: The spread of slavery into the territories. The Whig campaign in the North received a boost when Taylor released a public letter in which he stated that he favored Whig principles and would defer to Congress after taking office, thereby reassuring some wavering Whigs. During the campaign, Northern Whig leaders touted traditional Whig policies like support for infrastructure spending and increased tariff rates, but Southern Whigs largely eschewed economic policy, instead emphasizing that Taylor's status as an enslaver meant that he could be trusted on
21600-481: The state banks' ability to issue notes and maintain adequate reserves of specie, or hard money. At that time, bank notes could be exchanged for a fixed value of gold or silver. The arguments in favor of reviving a national system of finance, as well as internal improvements and protective tariffs, were prompted by national security concerns during the War of 1812 . The chaos of the war had, according to some, "demonstrated
21760-565: The status of slavery in the Mexican Cession remained the major issue facing Congress. To sidestep the issue of the Wilmot Proviso, the Taylor administration proposed that the lands of the Mexican Cession be admitted as states without first organizing territorial governments; thus, slavery in the area would be left to the discretion of state governments rather than the federal government. In January 1850, Senator Clay introduced
21920-517: The surprise of Clay and other Whigs, the 1844 Democratic National Convention rejected Van Buren in favor of James K. Polk and established a platform calling for the acquisition of both Texas and Oregon Country . Having won the presidential nomination at the 1844 Whig National Convention unopposed, Clay and other Whigs were initially confident that they would defeat the divided Democrats and their relatively obscure candidate. However, Southern voters responded to Polk's calls for annexation, while in
22080-413: The time nor the means of securing like favors to themselves, have a right to complain of the injustice of their Government. To those who believed that power and wealth should be linked, the message was unsettling. Daniel Webster charged Jackson with promoting class warfare. He proclaimed on the Senate floor: It manifestly seeks to influence the poor against the rich. It wantonly attacks whole classes of
22240-458: The two parties on territorial acquisitions, as most Democrats joined Polk in seeking to acquire vast tracts of land from Mexico, but most Whigs opposed territorial growth. In February 1848, Mexican and U.S. negotiators reached the Treaty of Guadalupe Hidalgo , which provided for the cession of Alta California and New Mexico. Despite Whig objections to the acquisition of Mexican territory, the treaty
22400-467: The value of its paper currency. It tried to ensure steady growth by forcing state-chartered banks to keep specie reserves. This meant that smaller banks lent less money, but that their notes were more reliable. Jackson would not publicly air his grievances with the B.U.S. until December 1829. When Jackson entered the White House in March 1829, dismantling the Bank was not part of his reform agenda. Although
22560-544: The war, the Federalist Party , founded by Hamilton, collapsed. Nearly all politicians joined the Republican Party , founded by Jefferson. It was hoped that the disappearance of the Federalist Party would mark the end of party politics. But even in the new single party system, ideological and sectional differences began to flare up once again over several issues, one of them being the campaign to recharter
22720-430: Was "a brilliant political manifesto" that called for the end of monied power in the financial sector and a leveling of opportunity under the protection of the executive branch. Jackson perfected his anti-Bank themes. He stated that one fifth of the Bank's stockholders were foreign and that, because states were only allowed to tax stock owned by their own citizens, foreign citizens could more easily accumulate it. He pitted
22880-416: Was "a losing fight" and that the recharter bill would certainly pass. Biddle, working through an intermediary, Charles Jared Ingersoll , continued to lobby Jackson to support recharter. On February 28, Cambreleng expressed hope that if the recharter bill passed, the President would "send it back to us with his veto—an enduring moment of his fame". The following day, Livingston predicted that if Congress passed
23040-408: Was a matter for Congress to decide. Nonetheless, he agreed to the overall plan. These reforms required a rapprochement between Jackson and Biddle on the matter of recharter, with McLane and Livingston acting as liaisons. The President insisted that no bill arise in Congress for recharter in the lead up to his reelection campaign in 1832, a request to which Biddle assented. Jackson viewed the issue as
23200-636: Was a mid-19th century political party in the United States. Alongside the Democratic Party , it was one of two major parties between the late 1830s and the early 1850s and part of the Second Party System . As well as four Whig presidents ( William Henry Harrison , John Tyler , Zachary Taylor and Millard Fillmore ), other prominent members included Henry Clay , Daniel Webster , Rufus Choate , William Seward , John J. Crittenden , and John Quincy Adams . The Whig base of support
23360-413: Was a political struggle that developed over the issue of rechartering the Second Bank of the United States (B.U.S.) during the presidency of Andrew Jackson (1829–1837). The affair resulted in the shutdown of the Bank and its replacement by state banks. The Second Bank of the United States was established as a private organization with a 20-year charter, having the exclusive right to conduct banking on
23520-669: Was achieved through harnessing the widespread social resentments and political unrest persisting since the Panic of 1819 and the Missouri Crisis of 1820. The Panic was caused by the rapid resurgence of the European economy after the Napoleonic Wars , where improved agriculture caused the prices of American goods to drop, and a scarcity of specie due to unrest in the Spanish American colonies. The situation
23680-636: Was alone in the cabinet, for only he opposed a veto, and Jackson ignored him. Taney's influence grew immensely during this period, and Cambreleng told Van Buren that he was "the only efficient man of sound principles" in Jackson's official cabinet. Biddle traveled to Washington, D.C. to personally conduct the final push for recharter. For the past six months he had worked in concert with B.U.S. branch managers to elicit signatures from citizens for pro-B.U.S. petitions that would be aired in Congress. Congressmen were encouraged to write pro-Bank articles, which Biddle printed and distributed nationally. Francis Blair at
23840-563: Was amongst entrepreneurs, professionals, Protestants (particularly evangelicals ), and the urban middle class . It had much less backing from poor farmers and unskilled workers. The party was hostile toward manifest destiny , territorial expansion into Texas and the Southwest , and the Mexican–American War . It disliked presidential power, as exhibited by Andrew Jackson and James K. Polk , and preferred congressional dominance in lawmaking. Members advocated modernization, meritocracy ,
24000-452: Was appointed Secretary of State. Jackson called it a "corrupt bargain". In the years following the 1824 election, former members of the Democratic-Republican Party split into hostile factions. Supporters of President Adams and Clay joined with many former Federalists such as Daniel Webster to form a group informally known as the "Adams party". Meanwhile, supporters of Jackson, Crawford, and Vice President John C. Calhoun joined in opposing
24160-552: Was determined to destroy the bank (the Second Bank of the United States), which Whigs supported. Shortly after Jackson's re-election, South Carolina passed a measure to " nullify " the Tariff of 1832 , beginning the Nullification Crisis . Jackson strongly denied the right of South Carolina to nullify federal law, but the crisis was resolved after Congress passed the Tariff of 1833 . The Nullification Crisis briefly scrambled
24320-469: Was established in Philadelphia, but it could create branches anywhere. It enjoyed the exclusive right to conduct banking on a national basis. It transferred Treasury funds without charge. The federal government purchased a fifth of the Bank's stock, appointed a fifth of its directors, and deposited its funds in the Bank. B.U.S. notes were receivable for federal bonds. The rise of Jacksonian democracy
24480-434: Was exacerbated by the B.U.S. under Bank President William Jones through fraud and the rapid emission of paper money. He eventually began to call in loans, but nonetheless was removed by the Bank's directors. Langdon Cheves , who replaced Jones as president, worsened the situation by reducing the Bank's liabilities by more than half, lessening the value of Bank notes, and more than tripling the Bank's specie held in reserve. At
24640-469: Was in Kentucky, where in 1817 the state legislature chartered forty banks, with notes redeemable to the Bank of Kentucky. Inflation soon rose and the Kentucky Bank became in debt to the National Bank. Several states, including Kentucky, fed up with debt owed to the Bank and widespread corruption, laid taxes on the National Bank in order to force it out of existence. In McCulloch v. Maryland (1819),
24800-460: Was made relatively easy by the fact that Jackson's own principles of government, including commitment to reducing the debt and returning power to the states, were largely in line with their own. Jackson ran under the banner of "Jackson and Reform", promising a return to Jeffersonian principles of limited government and an end to the centralizing policies of Adams. The Democrats launched a spirited and sophisticated campaign. They characterized Adams as
24960-693: Was operated by Morris Publishing Group which assumed full ownership in the mid-1990s. In 2017, Morris sold its newspapers to GateHouse Media . By June 2019, the newspaper changed hands again, to Paducah, Kentucky -based Paxton Media Group , as part of a four-publication acquisition in the state. This article about an Arkansas newspaper is a stub . You can help Misplaced Pages by expanding it . Whig Party (United States) Defunct Newspapers Journals TV channels Websites Other Economics Gun rights Identity politics Nativist Religion Watchdog groups Youth/student groups Miscellaneous Other The Whig Party
25120-503: Was ratified with the support of a majority of the Democratic and Whig senators; Whigs voted for the treaty largely because ratification brought the war to an immediate end. During the war, Whig leaders like John J. Crittenden of Kentucky began to look to General Taylor as a presidential candidate, hoping the party could run on Taylor's personal popularity rather than economic issues. Taylor's candidacy faced significant resistance in
25280-406: Was sent to Philadelphia to look into the matters. Clayton's committee report, once released, helped rally the anti-Bank coalition. The months of delay in reaching a vote on the recharter measure served ultimately to clarify and intensify the issue for the American people. Jackson's supporters benefited in sustaining these attacks on the Bank even as Benton and Polk warned Jackson that the struggle
25440-470: Was succeeded by Millard Fillmore. Fillmore, Clay, Daniel Webster, and Democrat Stephen A. Douglas led the passage of the Compromise of 1850 , which helped to defuse sectional tensions in the aftermath of the Mexican–American War for a time. Nonetheless, the Whigs suffered a decisive defeat in the 1852 presidential election partly due to sectional divisions within the party. The Whigs collapsed following
25600-607: Was to censure Jackson for the removal of the national bank deposits, thereby establishing opposition to Jackson's executive power as the organizing principle of the new party. In doing so, the Whigs were able to shed the elitist image that had persistently hindered the National Republicans. Throughout 1834 and 1835, the Whigs successfully incorporated National Republican and Anti-Masonic state-level organizations and established new state party organizations in Southern states like North Carolina and Georgia. The Anti-Masonic heritage of
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