Samuel Swartwout, Jackson’s political appointee as Collector of the Port of New York, absconds with $1,225,705.09 (equivalent to $36.2 million in 2024 dollars) after his term expires, fleeing to England in what becomes the most spectacular embezzlement scandal of the era. Swartwout, an old …
Samuel SwartwoutAndrew JacksonMartin Van BurenU.S. Treasuryembezzlementspoils-systempatronagekakistocracyfinancial-corruption+1 more
Just two months into Martin Van Buren’s presidency, major New York state banks refuse to convert paper money into gold or silver on May 10, 1837, having exhausted their hard currency reserves. Other financial institutions across the country quickly follow suit, triggering the Panic of 1837—a …
Martin Van BurenAndrew JacksonNew York banksState banksU.S. Congressfinancial-crisiseconomic-policybanking-systempanic-1837jackson-era+1 more
President Andrew Jackson orders Treasury Secretary Levi Woodbury to issue the Specie Circular, an executive order requiring that payment for public lands be made exclusively in gold or silver (specie) rather than paper currency, effective August 15, 1836 for purchases over 320 acres. The policy aims …
Andrew JacksonLevi WoodburyMartin Van BurenU.S. Treasury DepartmentLand speculatorsfinancial-manipulationeconomic-policyjackson-erabanking-systemland-speculation+1 more
U.S. government officials sign the Treaty of New Echota with approximately 500 Cherokee Indians claiming to represent the 16,000-member Cherokee Nation, ceding all Cherokee lands east of the Mississippi River in exchange for territory in present-day Oklahoma and $5 million. The treaty is negotiated …
Cherokee NationJohn RossTreaty PartyU.S. CongressAndrew Jackson+1 moreindian-removaltreaty-fraudethnic-cleansinginstitutional-corruptiontrail-of-tears+1 more
Following Andrew Jackson’s September 1833 removal of federal deposits from the Second Bank of the United States, Bank president Nicholas Biddle responds by deliberately contracting credit nationwide to create economic distress and force Jackson to reverse his policy. Biddle raises interest …
Nicholas BiddleSecond Bank of the United StatesAndrew JacksonHenry ClayU.S. Congress+2 morefinancial-manipulationeconomic-sabotagebanking-systemjackson-erainstitutional-corruption
President Andrew Jackson orders the removal of federal government deposits from the Second Bank of the United States and their redistribution to state-chartered banks derisively called “pet banks” because they are selected based on political loyalty rather than financial soundness. The …
Andrew JacksonRoger TaneyLouis McLaneWilliam J. DuaneU.S. Congress+1 morefinancial-manipulationinstitutional-corruptionpatronagejackson-erabanking-system+1 more
A South Carolina state convention adopts the Ordinance of Nullification, declaring the federal Tariffs of 1828 and 1832 “null, void, and no law, nor binding upon this State, its officers or citizens,” and threatening secession if the federal government attempts to collect tariff duties …
John C. CalhounAndrew JacksonSouth CarolinaHenry ClayU.S. Congressnullificationslave-powerstates-rightssecession-threatconstitutional-crisis+1 more
President Andrew Jackson vetoes legislation to renew the Second Bank of the United States’ charter, four years before its scheduled expiration, delivering a “popular and effective” message declaring the Bank “unauthorized by the Constitution, subversive to the rights of …
Andrew JacksonNicholas BiddleHenry ClayDaniel WebsterSecond Bank of the United Statesfinancial-manipulationinstitutional-corruptioneconomic-policyjackson-erabanking-system
The U.S. Supreme Court rules 5-1 in Worcester v. Georgia that states lack authority to impose regulations on Native American lands, with Chief Justice John Marshall writing that Indian nations are “distinct, independent political communities retaining their original natural rights” and …
John MarshallAndrew JacksonSamuel WorcesterCherokee NationGeorgia+1 morejudicial-nullificationexecutive-overreachindian-removalconstitutional-crisisrule-of-law+2 more
President Andrew Jackson signs the Indian Removal Act into law, authorizing the president to grant lands west of the Mississippi River to Native American tribes in exchange for their ancestral homelands within existing state borders. The legislation passes narrowly in the House (102 to 97) despite …
Andrew JacksonU.S. CongressCherokee NationFive Civilized TribesLand speculators+1 moreethnic-cleansingindian-removalinstitutional-corruptionland-speculationslave-power+2 more
Upon assuming office in March 1829, President Andrew Jackson immediately implements the “spoils system,” sweeping employees from over 900 political offices—approximately 10 percent of all federal appointments—and replacing them with political supporters, friends, and relatives as rewards …
Andrew JacksonMartin Van BurenWilliam MarcyFederal civil servantsspoils-systempatronagekakistocracyinstitutional-corruptionmerit-bypass+1 more