2.A second party also formed, the Whig Party. The Whigs were a very diverse group, but they generally… 1.Disliked Jackson (this was the main tie that bound them).
2.Liked Henry Clay's American System, especially its internal improvements (building roads, canals, etc.).
3.By this time, the "Era of Good Feelings" was over (with its one political party) and America had a two-party system of politics.
13.The Election of 1836 1."King Andrew" was still very popular and he, in effect, chose his successor and the next president–Martin Van Buren as the Democratic candidate.
2.The Whig Party was disorganized (due to its infancy and hodge-podge make-up).
3.They nominated a favorite son candidate from each section in hopes of splitting the electoral vote, preventing anyone from getting a majority and winning, and thus throwing the election into the House of Representatives (like in 1824).
4.Their plan failed as Van Buren, the "Little Magician" won 170 to 124 (all Whig votes combined).
14.Big Woes for the “Little Magician” 1.Van Buren followed Jackson's coattails right into the White House, but Van Buren was no Jackson.
2.Jackson was the people's president, a common guy himself. Van Buren was very smart, crafty, experienced, and effective, but he lacked the "people's touch" and personality of a Jackson.
3.Problems were brewing for Van Buren… 1.In 1837, in Canada, a rebellion caused turmoil along the border. Van Buren played the neutral game between Canada and Britain which gained no friends.
2.Anti-slavery folks in the North were upset because the idea of annexing Texas, a slave land, was being tossed around.
3.And worse yet for Van Buren, the economic situation was beginning to crumble.
15.Depression Doldrums and the Independent Treasury 1.There's an irony with Martin Van Buren: he benefited from his close tie with Jackson by being elected president, but he was hurt by Jackson as well as he (a) inherited Jackson's enemies and (b) was brought down by the economic chaos Jackson had begun.
2.In 1837, an economic downturn struck called the Panic of 1837. This was the second such downtown of the 1800s. Its causes were: 1.Over-speculation, especially in land, but also in other get-rich-quick schemes like canals, roads, railroads, and slaves. Over-speculation, as always, was the main cause of the recession.
2.Andrew Jackson's bank policies and resultant chaos also aided the Panic of 1837.
3.Jackson's "specie circular" hurt as well. This was a decree by Jackson that all debts were to be paid only in specie