Test test test test test test test test test test test test test test test test test test. Captioning performed by vitac well, jackson gets word of this, and jackson could not be more furious with john c. Calhoun. For jackson this is an affront to his authority as president. Jackson signed a bill. Jackson says, quote, to say that any state may at pleasure secede from the union is to say the United States is not a nation. Jackson asked congress to pass a force bill. This bill will permit the president to send 50,000 u. S. Troops into South Carolina. Jackson prepares the u. S. Navy. The u. S. Navy now off the coast of South Carolina. Jackson is ready to invade the state of South Carolina. Whats going to happen . The nullify indication crisis, the civil war. Were on the brink because of a tariff. Henry clay in desperation proposes a compromised tariff in the midst of this crisis, a compromise tariff that lowers the tariff gradually in a 10year period. At the end of the 10 years in stages, that tariff will only be 25 . Between this compromise tariff, in between jacksons force bill, South Carolina backs off and accepts the tariff. Calhoun does not like jackson. He doesnt like jackson any more than henry clay does. South carolina backed off. Jackson called their bluff. Just to prove a point, though. The South Carolina legislature nullified the force bill. Jackson is like, okay, whatever. Go ahead and do that. Well, henry clay looks at jackson and says, well, i never thought i would say this, andrew, but thank you. Jackson goes, oh, clay. Oh, clay. Im not done. Clay says, youre not done . What do you mean youre not done . What else is there . Jackson says, there is one other thing. The bank. Clay looks up. The bank . Its funny you mention that, andrew, because i was thinking maybe we would go ahead and just recharter this bank a little early. Right . Why not . We dont need to wait till the last moment. Its 1832. Lets get going. Lets recharter this bank. Youre on board with that, right, mr. President . Jackson says, well, not only am i not on board, mr. Clay, but i am ready to wage war against this bank of the United States, and here we have it, the bank war. One of the most dramatic events in United States history. The charter of that second bank will expire very shortly. Whigs in congress wish to recharter it early. Jackson, to their surprise, they didnt expect this, declares his opposition to the bank. Why does this come from . It seems to come out of nowhere. Jackson did not run his campaign in 1828 against the bank. In fact, jackson made no mention of the bank during his president ial campaign. There was no hint he was going to do anything like this. Now all of a sudden jackson unleashes a torrent of insults. First of all, jackson says the bank is unconstitutional. The bank, jackson says, is a monopoly, an unconstitutional monopoly. Not only is it a monopoly, jackson says, its a monster, and those are quotes. The monster, jackson says. Jackson warns that if this bank is rechartered, we will see in this nation the creation of a new moneyed aristocracy, a financial elite that will over throw this republic. We must do everything we can to stop this thing, this den of vipers, he calls it. Den of vipers, pretty strong language. He also calls it the hydra of corruption. That multiheaded beast. Jackson says, this is a hydra of corruption. What other evidence does he have . Is this bank truly corrupt . As evidenced, jackson points out, 59 members of congress, jackson says, 59 members of congress own stock in the United States. They have a financial interest pushing this charter through. Not only that, Daniel Webster, while hes serving in the senate, is also a director of this private bank, a hydra of corruption from jacksons point of view. And i, Andrew Jackson, am going to take this bank down. Henry clay cannot believe it. Youre mad, henry clay says. Jackson says, no, youre mad. I cant believe youre doing this, jackson. Jackson looks at clay. Clay, how many times are you going to run for president , clay . Huh . Two times, three times, four times, five times . How many times do you got to lose, clay, before you realize that you cant win . Cant win, clay. Out of his mind. I cant believe this is going on. Youre bluffing, clay says. Oh, im not bluffing, mr. Clay. Im not bluffing. Im going to take this bank down if its the last thing i do, believe me. Im going to do it. Clay does not believe jackson. Congress is in an uproar all of a sudden. What is going to happen . Should we side with clay . Should we side with jackson . Should the bank be rechartered . The number one issue on everyones mind, and jackson has some enemies. He has some enemies. Not just clay, but the president of the bank himself, nicholas biddle. Nicholas biddle, a man who really could not be more opposite from Andrew Jackson. They shared something in common, they were both very determined, both very stubborn and bullheaded. But biddle was extremely well educated. Jackson didnt have a college education. The only president in our history, before or since, excepting george washington, who did not have a college education. Biddle, at age 10, admitted into the university of pennsylvania. Age 10. Five years later, as if that wasnt enough, biddle transfers to Princeton University at age 15, and he is a genius. A financial wizard. He knows what hes talking about. But thats also biddles downfall. Hes elitist. Hes arrogant. Hes a bit well, a bit pretentious. Because of that pretentiousness, well, he looks at someone like jackson and hes like, is this really going on . Jackson said, he doesnt know anything hes talking about. He sees jackson as an unsophisticated dimwit and i just need to ride over this guy. He doesnt have any idea what hes talking about. But the country in an age of jacksonian democracy, who are they going to side with. He earns the nickname czar nicholas. A cartoon, a bit faded so youll have to forgive me, old hickory and boley nick. Not only do we have nicholas biddle, we also have an election coming up, jackson versus clay, the president ial election of 1832. What an election. The drama. Look at this. Unbelievable the future of the country fits, financially speaking, hanging in the balance. You cannot find two greater opponents. Clay, in conjunction with Daniel Webster, well, he has a plan for his election. Clay pushes through congress that summer, just a few months before election day, a bill to recharter the bank of the United States. Why does clay do this . Clay says, i think jacksons bluffing. Hes theres no way. In an election year, he would do something so risky and so bold as to reject a bill like this. The bank bill passes the house. The bank bill passes the senate. The bank bill arrives on the president s desk, veto. Jackson stuns the world and vetoes the bill, unleashing a veto message in which he rails against that bank of the United States. Reprinted in newspapers all across the country. Now we have an election. Just a few months away from the election. And again, this question of the bank is on everybodys mind. Its the number one issue everyones talking about it. Heres another cartoon. Look at that cartoon. Got to love that cartoon. Projackson cartoon. Remember the hydra . That hydra of corruption. Jackson going up going up against that financial beast. And while jackson, its a Hard Campaign for jackson. Nicholas biddle flexes his muscle. Nicholas biddle, on behalf of the bank, gives henry clay a 50,000 campaign donation. Quite a lot of money for those days. Not only that, but the bank, for years already, has been funding and loaning money to newspapers all across the country. And that press, that press all of a sudden, in the couple months before the election, just piling on to jackson, things look really bad. Jackson, whats he going to do . Whats he going to do . Is he going to win . Things dont look so good, but jackson is confident. Jackson is confident. And in the midst of this trial, jackson says, quote, the bank is trying to kill me, but i will kill it, jackson says. I will kill it and, well, what happens . The election occurs, election day comes about, victory for jackson. Jackson wins the election in a landslide. Clay wins four or excuse me, five states. Jackson takes the bulk of the states. Youll notice South Carolina refuses to vote for jackson in the middle of that nullification crisis. Jackson wins the election and victory for the jacksonians. This cartoon here, 1833, pretty interesting cartoon. I took just a little backstory. When i was in graduate school, i took a digital history course. And we had an assignment. We had to take an old photograph or an old black and white cartoon, and we had to use photo shop to color it in. And i had never used photo shop before, so i taught myself how to use photo shop, and i really thought this cartoon is interesting. Its in bad shape. So i did i took this cartoon and did that. Not bad, right . Not bad, for a beginner, right . But look at the imagery in this cartoon. Pretty incredible. There standing behind jackson, the common man, enthusically patting him on the back. The bankers, the financiers running away in fear. And oh, look at that, the newspapers, the press, all spread out on the ground. Theyve been defeated. And then, look at the demon face, right . Oh, and look at the columns, the falling columns. Whats that all about . Well, if youre familiar with the gospels, youll know that there was one time, this one time that jesus became violent. When was that . When jesus pulled out his whip and drove out the money changers from the temple. Jesus saying, get out of my temple, to those money changers. Jackson, like christ, has driven the money changers out of the temple. This is a phenomenal victory for jacksonian democracy. But its not over. Its not over. Jackson, its 1833, youll notice, the charter doesnt run out until 1836. Jackson says, oh, i got to put up with this bank for three more years . I cant do that. Theres no telling what these guys are going to try to pull. Ive got to kill this bank now. And sure enough, jackson, after he wins the election, removes all federal deposits, all treasury deposits, from the bank, starving the bank to death, removing those federal deposits early and then transferring them to state banks, to projackson state banks. The bank must shut down these projackson state banks by jacksons opponents are called pet banks. These are pets of Andrew Jackson, the wigs, understandably are very, very furious with jackson. This is a wig cartoon. Look at that. King andrew i trampling on the u. S. Constitution. And you see there, the constitution, internal improvements, the u. S. Bank, overstepping his constitutional authority, the whigs say, born to command. And many people are opposed to jackson. Some democrats are opposed to jackson, not just calhoun. They believe, oh, this guy has taken some dictatorlike steps. Hes too kinglike, they say. And, well, but jackson wins this victory. Youll notice, whats that document jacksons holding up . Driving the bankers out . Order of the removal of the public moneys deposited from the u. S. Bank. So thats in reference to the removal of federal deposits. Years later, when jacksons on his death bed, hes asked, jackson, what was your whats your most proud accomplishment . Jackson has four words. I killed the bank. Thats it. I killed the bank. His proudest accomplishment. And sure enough, from 1836 to 1913, 77 years in this country, no central bank, no central bank. In 1913, the congress chartered a new central bank, a central bank called the Federal Reserve. This Federal Reserve, well, you could teach a whole class on the Federal Reserve, right . But in short, one of the countrys wealthiest financiers in u. S. History, jpmorgan, just prior to his death, designed the Federal Reserve. The Federal Reserve pushed through congress. The Federal Reserve prints our money. Prints our money. A mostly private bank. It prints the money. Or actually nowadays, what it does is it digitizes money creation, more often than printing. And then it loans out the money, usually at 1 or 2 interest. Thats where the Interest Rate is right now, to leading banks. To goldman sachs, to jpmorgan, to bank of america, all those banks. And they lend it out at a higher rate of interest, making profit from the difference to ordinary people like you, to businesses. More often than not, theyll use that money created by the Federal Reserve and theyll lend it to hedge funds, to wall street speculators, in the stock market, in equities, in futures, in derivatives. And so, its a very important institution. A cornerstone of the current day banking system. A cornerstone of the currency. And thats why if you look very closely at a 1 billion, it doesnt say u. S. Treasury note on the top, does it . It says Federal Reserve note. Same if you look at a 5 bill, right . Or a 10 bill. Or a 20 bill. Oh, look at that there he is. Wow. There he is, Andrew Jackson himself. Thats strange. What is he doing on a bill . I mean, oh, no, call me crazy, but that almost looks intentional. Am i right . That almost looks intentional. Almost like a gotcha. We win. We win. We win, we win. Kind of like if you went if youre a big game hunter, right, if youre a hunter and you kill some big game, you take that head and you mount it on the wall as a trophy. This is kind of like a trophy. Or maybe im wrong. Maybe they just forgot that jackson would be totally opposed for everything this stood for. Anyway, one or another, pretty interesting story. What happened in the shortterm after jacksons presidency, democrats win in 1836. Martin van buren, Vice President , defeats Daniel Webster in the 1836 election. But martin van buren, he runs into some troubles, a new financial panic sweeps the country. The panic of 1837. All those pet banks, those state banks that receive those federal deposits, use those deposits, pyramid from them, create new credit, over speculation in western land, creates a land bubble. The bubble pops in 1837. The democrats become extremely unpopular across the country. Now its the whigs turn, right . The whigs finally have their chance. In 1840, the whigs run against martin van buren. And you would think, maybe theyre going to run henry clay again. But the wigs say, no, were going to play it safe. Were going to run a war hero. Because Everybody Loves war heros, right . The hero of the battle of tippy cano in 1811. William Henry Harrison. And while to be safe, were also going to put on harrisons ticket a democrat. A democrat who was very critical of jackson. John tyler, whos a virginia planter, and he was a jeffersonian, but he thought that jackson was too king like. So well throw a democrat on there. Thats going to make this a safe, moderate ticket. No problem here. And they were right. Look at that landslide for the whigs. The whigs overwhelmingly win the election. Not only that, but the whigs for the first time control the house, control the senate, control the presidency. Henry clay, rubbing his hands. Hays ready to go. William Henry Harrison delivers his inauguration speech. A storm comes through washington, d. C. , pouring down rain. During the speech, in that rain, william Henry Harrison, 68 years old, comes down with pneumonia and dies one month later. Unbelievable, clay says. Now john tyler is president , totally not what we planned, clay says. Well, thats okay. Were going to i mean, tylers not jackson, at least. Jacksons not in office. Were going to push through a new bill. Clay pushes through a new bill for a bank. This time he calls it something different, because the bank in the United States has been a bit stained, right . The name of that. He calls it the fiscal bank. The fiscal bank. It flies through the house. It flies through the senate. Gets on john tylers bill, veto. Clay cant believe it. Vetos the bill. Well call it the fiscal corporation. Its the same thing. We just rename it. Fiscal corporation. It goes through the house, goes through the senate, reaches tylers desk, veto again. John tyler vetoes the bank bill twice. Clay cant believe this is happening. Were going to have to wait four more years, clay says, this is just unbelievable that we have to put up with this. They wait four years, finally, clay says, all right, im doing it this time. I cant trust anybody but myself. 1844, he runs for president against james k. Polk and loses the election. Poor, poor henry clay. So thats the bank war episode. And its a, thats a fun episode, i think. However you feel about the bank war, right . Maybe it was good. Maybe its bad. But it was an interesting event, right . Well, there was a darker side to jackson. A darker side to his presidency, a darker side to populism. And Andrew Jackson during his administration, we have one of the harshest, one of the cruelest events in u. S. History. And that, of course, is the trail of tears. The removal of roughly 100,000 native americans from the Old Southwest. Cotton is the is the big fad of the day. Cotton plantations spreading all across the south. And while standing in the way of those cotton plantations are 125 native americans. The creek, the cherokee, the seminole, other groups. In 1830, both the whigs and the democrats push through congress, with signature, the indian removal act, giving the president permission to negotiate with Indian Tribes to remove them from the Old Southwest into a new territory, new territory, what is today oklahoma. Jackson defends this by saying, oh, look, you know, i want to preserve indian culture. Indian culture is at risk. So were going to move them, forcibly, into oklahoma, where they will forever be able to live in peace. Of course, a few years later, settlers arrive in oklahoma and want that land as well. But jackson does run into an opponent. And that opponent is the supreme court. Because until 1831, in 1831, the cherokee sue the state of georgia, goes all the way to the supreme court, and chief Justice John Marshall rules in favor of the cherokee. He says removing their land is unconstitutional. So it looks like the plan is done. Andrew jackson, in typical manner, in very jacksonian manner, responds to chief Justice Marshall. He says, Justice Marshall has made his decision, quote, now let him enforce it. And he completely ignores the decision and the indian removal goes through. The most infamous act episode in this removal was the trail of tears in 1838. 1839. 15,000 cherokee. And actually, next lecture, well look closer at this cherokee civilization, because they made a really strong effort to try to comply. Wasnt enough. Wasnt enough. The cherokee, 15,000 of them removed from georgia to oklahoma on a journey, on foot, that was 116 days. Terrible conditions. Roughly one in four cherokee die of disease or malnutrition. Thats 4,000 cherokee. Just to give you an idea, theres the theres the route of the indian removal. This will give you an idea of how bad things were, there was a confederate soldier after the civil war from the state of georgia and he had this to say about the trail of tears. He said, i fought the war between the states and have seen many men shot, but the cherokee removal was the cruelest work i ever knew. And so, in conclusion, what can we say about jackson. What can we say about democracy. What can we say about populism . Theres a lot of lessons here, right . And i think democracy can do a lot of good. Right . Democracy can do a lot of good. Populism can do a lot of good. Strong personalities can do a lot of good. But all three of those things can also do a lot of bad, as well. Populism, or a jacksonianstyle democracy, is risky. Its almost like rolling the dice, right . You dont know how its going to turn out. Things can happen that are good, but you dont know. You dont know. And most of the time, people dont go for populist, but during times of uncertainty, but during times in which things, theres a sense that theres a corrupt elite system, that often will give an avenue to populist, good or bad, demagogue or well meaning, whatever have you and that avenue can often be exploited. And so you have to be careful. You have to be very careful in moments like that. Jackson, what do we make of him . Im not sure, right . Interest guy. Definitely an interesting guy. Well, next class we have a new republic. A new republic. The republic of texas. And that republic of texas is going to apply for state hood in the United States, and thats going to cause its own controversy. So that does it. Enjoy your weekend. And i will see you on monday. Weeknights this month on American History tv, were featuring the contenders, our series that looks at 14 president ial candidates who lost the election but had a lasting effect on u. S. Politics. Tonight we feature former speaker of the house james g. Blaine of maine, who also served as secretary of state for three president s and was the nominee in 1884. Watch tonight, beginning at 8 00 eastern. Enjoy American History tv, this week and every weekend on cspan3. Every saturday at 8 00 p. M. Eastern on American History tv on cspan3, go inside a Different College classroom and hear about topics ranging from the american revolution, civil rights, and u. S. President s to 9 11. Thanks for your patience and for logging into class. With most College Campuses closed due to the impact of coronavirus, watch professors transfer teaching to a virtual setting to engage with their students. Gorbachev did most of the work to change the soviet union but reagan met him halfway, reagan encouraged him, reagan supported him. Freedom of the press, i should mention, madison called it freedom of the use of the press and it is, indeed, freedom to print things, publish things. It is not a freedom for what we now refer onto institutionally as the press. Lectures in history on American History tv on cspan3 every saturday at 8 00 p. M. Eastern. Lectures in history is also available as a podcast. Find it where you listen to podcasts. Youre watching American History tv. Every weekend on cspan3, explore our nations past. Cspan3, created by americas Cable Television company as a Public Service and brought to you today by your television provider. Next on lectures in history, Eastern Connecticut State University professor thomas balcerski. Leading up to the civil war, friendships and alliances disintegrated revealing sectional divisions in National Politics at the time. All right. Well, welcome, everybody. Its me, your professor, thomas balcerski. Im excited to offer a lecture on politicalcu
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