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Market Revolution
starts in England; change from making goods at home to producing in factories, leading to increased commercialization and urbanization in America.
5 Civilized Tribes
Cherokee, Creek, Choctaw, Chickasaw, and Seminole; white settlements in Southeast took over their land; “civilized” b/c they adopted white lifestyle
Spoils System
rewarding political supporters with government jobs; a practice popularized by Andrew Jackson.
Tariff of Abominations
Congress increased tariff in 1824 and passed in 1828; made Old South angry since they sold produce in a market unprotected by tariffs that benifited Northern manufacturers.
Tariff of 1832
less than tariff of 1828, but was still protective and didn’t great South demands
Nullification Crisis
South Carolina wanted to deem unconstitutional/get rid of the tariffs b/c they were struggling; nullifiers: get rid of tariffs. Unionists: keep tariffs
Compromise Tariff of 1833
Henry Clay; gradually reduce Tariff of 1832 by 10% over 8 years; by 1842, rates will be back to level of year 1816
Force Bill
Bloody Bill-South; 1833; authorized president to use army and navy to collect federal tariff duties and enforce collection of tariffs in South Carolina, effectively addressing the Nullification Crisis.
Indian Removal Act
1830; passed by Jackson; authorized the forced removal of Native American tribes from their ancestral lands in the Southeastern United States to designated "Indian Territory" west of the Mississippi River.
Trail of Tears
where countless Natives died and marched to newly established Indian territory for freedom; lasted 15 years; caused by Jackson’s Indian Removal Act
Bank War
1832; Webster and Clay presented Congress w/ bill to renew Bank of U.S. charter; if Jackson said yes, would lose west followers/ if said no, would lose presidential election b/c no support from wealthy; Jackson vetoed it; this amplified power of presidency
Anti-Masonic
1832 election; 3rd party; started in NY and spread through New England; appealed to American suspicions of secret societies; anti-Jackson party; support from Protestant groups
Specie Circular
decree issued by Jackson in 1836 requiring payment for government land in gold or silver rather than paper currency, aimed at curbing inflation and speculative land purchases; caused financial crash in 1837 (Jackson is no longer president)
panic of 1837
symptom of Market Revolution; unsteady currencies; rampant speculation; hazards of enterprise; effect of Bank War and Specie Circular resulting in a severe economic depression that lasted several years.
Divorce Bill
Legislation passed in 1837 by Jackson to separate the government from the banking system, reallocating federal funds to state banks, intending to reduce the influence of the Bank of the United States.