Tariff of 1828
This was also known as the "Tariff of Abominations" which helped protect the northern industries in the United States. It put a tax on items such a wool, molasses, hemp, iron and lead. It affected the southern Antebellum economy. It was to help the north by putting a tax on low-priced imported goods but this affected the south greatly because they had to pay higher prices on the goods that was not produced in the region and made it difficult for the British to pay for cotton imported by the south. This hugely affected South Carolina which would lead to the Nullification Crisis.
By: Alexa Blyth |
South Carolina Exposition and Protest
Also known as "Calhoun's Exposition" which was to protest the Tariff of 1828. He stated that is the tariff would not be repealed, South Carolina would secede. Calhoun thought that the Tariff favored commerce over agriculture.
Nullification Crisis
Started in 1832, the Ordinance declared that the State's power of the Tariff of 1828 was unconstitutional and voided the boundaries of South Carolina. The Ordinance was repealed because of further actions by military sent by President Jackson. A new tariff negotiation was enacted by congress to further help South Carolina .
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Bank of the United States
The bank received a twenty year charter in 1816. In 1836, Jackson could have allowed the bank to die but want to remove federal deposits from the bank and placing them in state banks. The removal deepened a split between soft money and hard money. Soft money resented the bank's role in contracting credit and restricting lends of state banks. Western Democrats viewed the bank as inadequate to supply their need for credit and favored an expansion of banking credit.
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