Sunday, October 5, 2008

Blood Feud IV: Jackson vs. Clay

In 2000, Al Gore ran on the premise that he was for the people and not the powerful. This was not the first time a candidate ran this type of campaign. In 1832, Andy Jackson attacked powerful bank interests and claimed to defend the common man. In the end, Jackson won a great electoral victory after a titanic struggle with Henry Clay and Nicholas Biddle.
Henry Clay planned to challenge incumbent Andrew Jackson in 1832. He believed he had a great issue to run on. The Bank of the United States was a controversial organization that Clay believed vital to the nation. It's charter had to be renewed every so often by Congress. Clay decided to bring up the recharter early. If Jackson vetoed it, then Clay had a wedge issue to run on. Jackson vetoed it.
Jackson hated banks. He thought they were corrupt corporations that oppressed the people. His veto message stated as much. The bank's president, Nicholas Biddle, decided to call in loans hoping to pressure Jackson. In response, the president killed the bank by removing it's funds and placing them in state banks of his choosing. This caused a firestorm that led to his censure in congress, but increased his popularity among voters.
When the election rolled around, Jackson steamrolled Henry Clay. This was Clay's second defeat in a presidential election and secured Jackson's second term. The bank died, but issues regarding financing continued until the 1840s.

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