Van Buren and the Economic Situation


US History Age of Jackson and Westward Expansion Van Buren and the Economic Situation
Students learn about Andrew Jackson's decision to dissolve the Second National Bank of the United States and the economic crisis that followed. Then, students will explore the Panic of 1837 and the actions Martin Van Buren took to stabilize the economy. Finally, students will evaluate political cartoons about the Panic of 1837.

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Overview

In this experience, students learn about Andrew Jackson’s decision to dissolve the Second National Bank of the United States and the economic crisis that followed. Then, students will explore the Panic of 1837 and the actions Martin Van Buren took to stabilize the economy. Finally, students will evaluate political cartoons about the Panic of 1837.

Objectives:

  • Summarize arguments regarding the banking system.
  • Identify the economic problems Martin Van Buren faced.


When Andrew Jackson ran for re-election in 1832, the primary issue of the campaign was the status of the Second National Bank of the United States. You will learn about the economic crisis that arose and the how it was solved.

Objectives:

  • Summarize arguments regarding the banking system.
  • Identify the economic problems Martin Van Buren faced.
Andrew Jackson famously stated “It’s not this (the federal bank) I don’t like, it’s all banks.”


Based on what you have learned so far about Andrew Jackson, why do you think he hated banks and the entire banking system?

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Discuss with students their responses. Mention to students that Jackson did not trust the banks and he believed that banks made money by manipulation. He felt that the banks had too much power over the states’ interests and that the federal banks were run by a group of select, rich individuals who did not represent the national interests.


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