APUSH: “The present Bank of the United States…enjo

“The present Bank of the United States…enjoys an exclusive privilege of banking…almost a monopoly of the foreign and domestic exchange. It appears that more than a fourth part of the stock is held by foreigners and the (rest) is held by a few hundred of our own citizens, chiefly of the richest class. Of the twenty-five directors of this bank five are chosen by the government and twenty by citizen stockholders…It is easy to conceive that great evils to our country…might flow from such a concentration of power in the hands of a few men irresponsible to the people…” Andrew Jackson’s Bank Veto Message to Congress July 10, 1832 “(President Jackson’s message) extends the grasp of (the chief executive) over every power of the government….It sows…the seeds of jealousy and ill-will against the government of which its author is the official head. It raises a cry that liberty is in danger, at the very moment when it puts forth claims to powers heretofore unknown and unheard of… It manifestly seeks to inflame the poor against the rich, it wantonly attacks whole classes of people, for the purposes of turning against them the prejudices and resentments of the other classes.” Daniel Webster’s Reply to Andrew Jackson’s Bank Veto Message July 11, 1832 Answer (a), (b), and (c) (a) Briefly describe ONE significant difference between Jackson’s interpretation of government powers as expressed in his message to Congress and Webster’s. (b) Briefly explain how ONE specific historical event or development from the period 1790-1840 could be used to support the sentiment expressed in Jackson’s message. (c) Briefly explain how ONE specific historical event or development from the period 1790-1840 could be used to support the sentiment expressed in Webster’s message.

Important Concept: Jacksonian Democracy, Economic Development, Federal vs. State Power

Key Concept

KC-4.1.II: Innovations in technology, agriculture, and commerce powerfully accelerated the American economy, precipitating profound changes to U.S. society and to national and regional identities. Answer: (a) Jackson's interpretation of government powers, as expressed in his message to Congress, is that the government should have a limited role in economic affairs and should not favor the wealthy elite. He believed that the Bank of the United States was a monopoly that concentrated too much power in the hands of a few wealthy individuals and foreigners. On the other hand, Webster's interpretation is that the government, and specifically the executive branch, should have more power. He saw Jackson's veto as an overreach of executive power and a threat to liberty. (b) The Panic of 1819 could be used to support the sentiment expressed in Jackson's message. This was the first major financial crisis in the United States, which was largely caused by the policies of the Second Bank of the United States. The bank had tightened credit in a bid to control inflation, which led to a series of bank failures, foreclosures, and bankruptcies. This event could be used to argue that the Bank of the United States had too much power and could cause great harm to the economy. (c) The development of the American System could be used to support the sentiment expressed in Webster's message. This economic plan, championed by Henry Clay, called for a strong banking system, a protective tariff, and federally funded internal improvements. The American System represented a vision of a strong, centralized government that played an active role in economic affairs, which aligns with Webster's view of government power.

“The present Bank of the United States…enjoys an exclusive privilege of banking…almost a monopoly of the foreign and domestic exchange. It appears that more than a fourth part of the stock is held by foreigners and the (rest) is held by a few hundred of our own citizens, chiefly of the richest class. Of the twenty-five directors of this bank five are chosen by the government and twenty by citizen stockholders…It is easy to conceive that great evils to our country…might flow from such a concentration of power in the hands of a few men irresponsible to the people…” Andrew Jackson’s Bank Veto Message to Congress July 10, 1832 “(President Jackson’s message) extends the grasp of (the chief executive) over every power of the government….It sows…the seeds of jealousy and ill-will against the government of which its author is the official head. It raises a cry that liberty is in danger, at the very moment when it puts forth claims to powers heretofore unknown and unheard of… It manifestly seeks to inflame the poor against the rich, it wantonly attacks whole classes of people, for the purposes of turning against them the prejudices and resentments of the other classes.” Daniel Webster’s Reply to Andrew Jackson’s Bank Veto Message July 11, 1832 Answer (a), (b), and (c) (a) Briefly describe ONE significant difference between Jackson’s interpretation of government powers as expressed in his message to Congress and Webster’s. (b) Briefly explain how ONE specific historical event or development from the period 1790-1840 could be used to support the sentiment expressed in Jackson’s message. (c) Briefly explain how ONE specific historical event or development from the period 1790-1840 could be used to support the sentiment expressed in Webster’s message.

Key Concept

KC-4.1.II The nation’s transition to a more participatory democracy was achieved by expanding suffrage from a system based on property ownership to one based on voting by all adult white men, and it was accompanied by the growth of political parties. Answer: (a) Jackson’s interpretation of government powers, as expressed in his message to Congress, is that the government should not favor the wealthy and powerful, but should instead protect the interests of the common people. He saw the Bank of the United States as a tool of the rich that concentrated too much power in the hands of a few. On the other hand, Webster’s interpretation is that the executive branch is overstepping its bounds and creating division among the classes. He saw Jackson's actions as an abuse of power that threatened the balance of power among the branches of government. (b) The Panic of 1819 could be used to support the sentiment expressed in Jackson’s message. This was the first major financial crisis in the United States, which was largely blamed on the policies of the Second Bank of the United States. The panic led to widespread resentment against the bank, particularly among western farmers and workers, who were hit hardest by the economic downturn. This event would have reinforced Jackson's belief that the bank was a dangerous institution that served the interests of the wealthy at the expense of the common people. (c) The Market Revolution from the period 1790-1840 could be used to support the sentiment expressed in Webster’s message. This was a time of rapid economic and industrial growth in the United States, which led to the rise of a wealthy merchant class. The growth of this class and the increasing economic inequality it brought about could have been seen by Webster as a threat to the stability of the nation. This would have supported his argument that Jackson's actions were divisive and threatened to turn the poor against the rich.

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