The Jacksonian Era Essay -- American History, Politics

Whether people admired Andrew Jackson’s policies and decisions as president or did not; they can all agree that the two most important economic conflicts during the Jacksonian Era were the Bank War conflict and the Specie Circular Panic of 1837. The Jacksonian Era by Remini, should be renamed The Jacksonian Economy because the outcomes of these two conflicts were what made America’s economy today. In describing these two conflicts, Remini showed how Americas learned the hard way of what to do and not do in order to have a successful economy. The Bank War was important because it proved that the nation’s finances could not be trusted in the hands of one man. Jackson believed this to be true and fought to change it. He believed that the Second Bank of the United States was unconstitutional and that it posed a serious threat to the American economy. On the other hand, this American System which was inspired by Alexandria Hamilton, Henry Clay, and lead by Nicholas Bi ddle was meant to modernize the nation’s economy. Both sides of the Bank War would not back down, which lead to Jackson eventually closing down all banks because he believed they were devices to cheat common people. The other most important conflict which played a role in Jacksonina Era was the Panic of 1837. This was the most serious depression the young nation had seen yet. The economy suffered in a number of ways such as large debts, an unfavorable balance of trade as imports had exceeded exports which resulted in a loss of specie; and several crops failures had also taken place in 1837. Both conflict had enormous impacts on America’s economy and had many repercussions. The first important economic conflict that Remini presented was Jackson’s war against the Bank of the... ... passage of the Federal Reserve System. (P-40) Even though the Panic of 1837 had an impact worldwide, overall the Bank Wars had the most influential and long lasting effects on the United States.The Jacksonian Era was a trial and error period for the nation’s economy. Whether people admired Andrew Jackson’s policies and decisions as president or did not; they can all agree that the two most important economic conflicts during the Jacksonian Era were the Bank War conflict and the Specie Circular Panic of 1837. Both conflicts taught a life lesson of what to steer away from in order to achieve the American dream. Remini’s The Jacksonian Era taught economic and financial history by exploring the explanation and causes of the Bank War and Panic of 1837. For without the knowledge of these two conflicts, America would not know how its economy survived in the first place.