CLEP U.S. History I 065: Bank War and Economic Power
U.S. History to 1877 | Chapter 12 | Lesson 12.4 The Second Bank held federal deposits, regulated currency, restrained risky state banks, and supplied national credit. It was also a private corporation with public privileges, headquartered far from many debtors and led by Nicholas Biddle. Jackson distrusted paper credit and concentrated power. Henry Clay and […]
CLEP U.S. History I 064: Nullification and Competing Union Theories
U.S. History to 1877 | Chapter 12 | Lesson 12.3 High protective tariffs, especially the 1828 “Tariff of Abominations,” angered South Carolinians who imported manufactured goods and feared federal hostility to slavery. Vice President John C. Calhoun anonymously developed a compact theory: sovereign states had formed the Union and a state convention could nullify an […]
