Daniel Webster, the Secretary of State under President John Tyler, brought a breadth of experience and dignity to the office, but he also brought “a different perspective on Anglo-American relations.” Daniel Walker Howe, What Hath God Wrought: Transformation of America, 1815-1848, 672.
In the wake of the Panics of 1837 and 1839, Congress sent the White House a new bill to be signed into law: The Bankruptcy Act of 1841. See Daniel Walker Howe, What Hath God Wrought: Transformation of America, 1815-1848, 593. From then on, bankruptcy would be part of American life, providing an option for when debts become overwhelming.
As was customary until 1904, an incumbent president did not campaign openly for his re-election. This was true for President Martin Van Buren as well. See Daniel Walker Howe, What Hath God Wrought: Transformation of America, 1815-1848, 573.
Following the Panics of 1837 and 1839, America began rapidly expanding a new innovation: the railroad. While this would seem to have brought the country together, in fact, it increased sectionalism, creating more tension between the North and the South. Daniel Walker Howe, What Hath God Wrought: Transformation of America, 1815-1848, 569.
Following the Panics of 1837 and 1839, the American government and Americans generally had developed a skepticism about corporations. Some states even “rewrote their constitutions in the 1840s” to forbid their state government from stock ownership. See Daniel Walker Howe, What Hath God Wrought: Transformation of America, 1815-1848, 557.
Amidst the Panics of 1837 and 1839, the Whigs enjoyed significant gains in Congress, which led to Robert M.T. Hunter, a pro-states’ rights southerner, becoming Speaker of the House. Daniel Walker Howe, What Hath God Wrought: Transformation of America, 1815-1848, 506. Further, besides the changing composition of Congress, the federal government’s policies would change, as a result of the Panics.
Not long after the Panic of 1837 had set in and gripped America’s economy, a second shock came: the Panic of 1839.
In Martin Van Buren’s inaugural address, in March of 1837, he boasted of the prosperity and expansion of commerce that had occurred under his predecessor, Andrew Jackson. Just months later, the Panic of 1837 would begin. Daniel Walker Howe, What Hath God Wrought: Transformation of America, 1815-1848, 502.
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