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What was the Panic of 1837?
What was the Panic of 1837?
The Panic of 1837 was an economic depression partly caused by the economic policies of President Jackson, leading to bank failures and high unemployment.
What was the spoils system?
What was the spoils system?
The practice of rewarding political supporters with government jobs.
What was the importance of Marbury vs Madison?
What was the importance of Marbury vs Madison?
It established judicial review.
What is judicial review?
What is judicial review?
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What was the Nullification Crisis?
What was the Nullification Crisis?
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What was the American System?
What was the American System?
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What was the Missouri Compromise?
What was the Missouri Compromise?
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During the first industrial revolution, where did the biggest group of immigrants come from?
During the first industrial revolution, where did the biggest group of immigrants come from?
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When did the second Great Awakening occur?
When did the second Great Awakening occur?
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What is the cult of domesticity?
What is the cult of domesticity?
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Study Notes
Panic of 1837
- Caused by President Jackson's economic policies, specifically the Specie Circular and refusal to renew the Second Bank's charter.
- Resulted in one of the most severe economic depressions in U.S. history.
- Triggered by a speculative frenzy and followed by a five-year depression, marked by bank failures and record unemployment.
- Out of 850 banks, 343 closed completely and 62 partially failed; the state banking system never fully recovered.
Spoils System
- A practice where political supporters are rewarded with government jobs.
- Involved diverting public funds to party contributors through inflated contracts for public projects.
Marbury vs. Madison
- Established the principle of judicial review, empowering the judiciary to interpret the Constitution.
Judicial Review
- The Supreme Court's power to assess whether a law is constitutional.
Nullification Crisis
- South Carolina's claim to nullify federal laws led to a confrontation with President Jackson, who threatened military action.
- South Carolina ultimately backed down and could not nullify federal laws freely.
American System
- Proposed by Henry Clay, aimed to unify the U.S. economy through the establishment of a Second Bank, infrastructure improvements, and protective tariffs.
- Benefited the North and Midwest more than the South, facilitating the construction of roads and canals.
Missouri Compromise
- Consisted of three components: Maine admitted as a free state, Missouri as a slave state, and a latitude line (36°30') dividing free and slave territories.
- Applicable only to the lands acquired through the Louisiana Purchase.
- Later invalidated by the Kansas-Nebraska Act.
First Industrial Revolution Immigration
- The largest immigrant group came from Northern and Western Europe, primarily due to the Irish Potato Famine.
- Significant immigration also included individuals from Britain, Germany, and Scandinavia.
Second Great Awakening
- Occurred during the antebellum period, characterized by a surge in religious revivalism and social reform movements.
Cult of Domesticity
- Ideology focused on women's roles in home and family, emphasizing attributes like piety, purity, domesticity, and submissiveness.
- Predominant among upper and middle classes in 19th-century U.S. and Britain.
- Resulted in limited participation of married women in the labor market, as they were expected to prioritize unpaid domestic work over paid labor.
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Description
Test your knowledge on the Panic of 1837 and its impact on the United States. This quiz covers key terms and definitions related to this significant economic crisis and its causes. Enhance your understanding of historic economic events with these flashcards.
