Download Slavery National banks - Teaching American History in South Carolina

nabled banks to
increase their lending
capacity so that they
ould extend more loans
The economy
experienced a heady
expansion fueled by
paper money from the
'--t banks" and foreign
specie to purchase
cotton and investment in
canal oroJ,-,ct
Removed federal
revenue from the'
~ national bank and
deposited them into state
Increase in abolitionist
activity
American Anti-Slavery
Society founded in 1833
Opened up lands for
white farmers, who
needed more slaves,
especially for raising
cotton in the Southwest
Influx of foreign specie
to purchase cotton led to
more cotton plantations
that depended on lots of
slaves
Gag rule" adopted in
Congress so that
abolitionist petitions
were automatically
tabled and thus
prevented t11eir
discussion in Congress
Slavery
Issued Specie Circular
Shifted the issue from
the abolition of slavery
to the constitutional
rights of free expression
and petitioning Congress
National
Bank
banks
Jackson took steps to try
to "kill" the Bank of the
United States
Jackson vetoed the bill
that would recharter the
Bank of the United
tates
Jackson's crushing of
nullification and war on
the Bank of the United
States led people to the
Whig party in
opposition of Jackson
South Carolina
Exposition and Protest:
Calhoun spelled out his
argument that the tariff
of 1828 was
unconstitutional and iliat
aggrieved states
therefore had the right to
nullify the law within
their borders
Certain states wanted
the right to override
federal laws passed by
Congress
South Carolina nullified
the tariffs of 1828 and
1832
"The olive branch and
the sword":
Compromise Tariff of
1833 and the Force Bill
South Carolina nullified
the Force Bill, but
rescinded its
nullification of the
tariffs of 1828 and 1832