Jackson’s SuccessorsChapter 11 Section 4

Martin Van Buren, Jackson’s Vice President, took the office of president in 1837

An Economic CrisisMartin Van Buren was very different

from Jackson◦Politician not a war hero

Panic of 1837; the worst economic crisis the nation had known◦2 months after Van Buren took office

The Panic BeginsThe panic had several causes

◦During the 1830’s government sold millions of acres of public land in the West Farmers bought some but

speculators but even more Speculators borrowed money from

state banksWhen the bank of the U.S. closed state banks could lend money without limits

The panic beginsState banks began printing more

paper money◦Often not backed by gold and silver Only had value if people had trust

in the banks that issued itBefore leaving office Jackson ordered

anyone buying public land had to pay for it in gold or silver◦Many banks did not have enough

gold and silver and had to close

Banks FailPanic spread

◦More and more people hurried to banks to cash in their paper money for gold or silver Hundred of banks failed Leaving depositors empty handed

Tough TimesIn the worst days of the

depression 90% of the factories closed◦Thousands of people were out of work

Hungry crowds broke into warehouses and stole food

Van Buren’s responseThe panic was not Van Buren’s

fault but he was blamed◦He took little action

He tried to set a more sable banking system

He cut back on expenses in the white house

The hero of TippecanoeWhigs chose a candidate that

would appeal to the common people, William Henry Harrison of Ohio◦Known as the hero of Tippecanoe

Whigs chose John Taylor to run for Vice President

The Log cabin CampaignHarrison’s campaign reflected a

new sort of politics◦Politicians made speeches◦Campaigned art rallies and banquets◦Competed for votes by offering

exciting entertainment

A war hero and a man of the peopleAmerican’s knew little about

Harrison’s stand on the issuesTo appeal to voters the Whigs

focused on his war recordCreated a “man of the people image”

◦Humble Ohio farmer who was born in a log cabin

In fact Harrison was wealthy, educated man from Virginia whose family owned a large estate

Attacks on Van Buren blamed Van Buren for the

economic depressionBoth parties used name calling

half truths and lies◦newspapers reported the Van Buren

spent thousands of the people’s money to install a bathtub in the White House

On the campaign trailHarrison campaigned across the

land making speeches and greeting voters

Whigs built a log cabin to use as their headquarters◦Even set up log cabins in cities like

New York◦Parades featured log cabins on

wagons◦Whigs served plenty of free cider at

stops

“keep the ball rolling”In town across the U.S. Harrison

supporters rolled huge balls down the streets◦Made of twine and covered in

slogansSold campaign souvenirs Offered badges, handkerchiefs,

and shaving cream with Tippecanoe slogan

“keep the ball rolling”Bottle shaped like a log cabinWomen could not vote but they

campaigned for HarrisonWrote pamphlets, sewed

banners, rode on floats, and parade with brooms to sweep Democrats out of office

A Whig victory at lastDemocrats responded to Whigs

with their own name calling◦Harrison had resigned from the army

before the war of 1812 ended◦Accused him of not speaking in the

issuesHarrison won the election easily

◦Forced Democrats out of the White House for the first time in 12 years

Whigs in the White HouseWhigs wanted to create a new

Bank of the United States and improve roads and canals

Just weeks after taking office Harrison died of pneumonia

John Tyler became President

Whigs in the White HouseTyler disappointed the WhigsWhen the Whigs passed a bill in

Congress to recharter the Bank of the United States Tyler vetoed it◦In response Tyler’s entire cabinet

resigned, except Daniel Webster◦Whigs threw Tyler out of the party◦Democrats welcomed Tyler◦With few friends in either party Tyler

could do little during his term in office