The Panic of 1812 was an economic disaster that occurred when small banks printed too much money causing inflation. Andrew Jackson was the president at the time and had been ruling with more power than any president before him, earning him the nickname “King Andrew.” King Andrew, once elected president, began to push many Americans against the 2nd National Bank. Instead, he wanted them to be deposited into state banks. Secretary of the Treasure Duane refused this, but was simply removed by Jackson and replaced with Roger B. Taney. Eventually, “twenty-three state banks-dubbed ‘pet banks’ by anti-Jacksonians-had been selected as depositories.” The idea was strongly opposed in all of the congress. So much so, that a new political party, called the Whig party. “This name played off the idea that Jackson was acting as if he were ‘King Andrew’ because it was the Whig party in Britain that espoused the limiting of royal power.” The Senate eventually gained control once again and stopped the election of Taney into the secretary of Treasury. Unfortunately, Jackson had already destroyed the American banking system making it unpredictable …show more content…
As the west expanded, more and more places wanted to become states, but the real question was if they were going to become free or slave. A few of these problems were solved by simply making compromises for states, like the Missouri Compromise , but this could only last a short period of time. The nation was on edge for most of the beginning of the 19th century between economic problems and national conflicts. Many people, such as Fredrick Douglas, were respected even by whites as a human being and became a representative for all slaves. Slavery was becoming more and more questionable as time went on and many people who favored manufacturing, which was the majority, began to call for a leader that would end it. That leader was Abraham