Who Is Andrew Jackson A Hypocrite
President Andrew Jackson was most famously known for being the army general in the War of 1812 and as the seventh president of the United States. Some argue that he is a national hero, but others claim he is a disgrace to society. Going into his presidency, he was a big supporter and advocate for the common man. Andrew Jackson is a hypocrite. Although Jackson claimed to support the common man, he is a hypocrite because he vetoed the bill to re-charter the Second Bank which caused inflation to surge, implemented the Tariff of 1832, and put into place the Specie Circular which eventually led to the Panic of 1837.
Andrew Jackson was a hypocrite because he vetoed the bank bill which in turn rapidly raised inflation. When the United States officially
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The Specie Circular came to be when there was “an economic boom… in Jackson’s second term [which] included an upsurge in land prices” (Whaples 550). Since the paper currency at the time had become inflated due to the veto of the bank, Jackson decided as a last-ditch effort to “[issue] the Specie Circular, an executive order that required public lands be purchased only with hard money (gold or silver coins), not paper money” (Whaples 550). The Specie Circular had an ¨unanticipated effect of drawing the nation's specie away from its commercial center"¨ (Whaples 551). The specie that was once originally all in the federal bank dispersed out to all of the state banks. This was intended to “spark the subsequent recession that hit after Jackson left office (the Panic of 1837), but the boom and bust seem to be due mainly to international supply-and-demand considerations…” (Whaples 550). Since Jackson implemented the Specice Circular he inadvertently caused the Panic of 1837. This Panic led to the common man not being able to purchase land and being unemployed because the value of the specie went up and the demand was high. There wasn’t enough specie to go around for everyone, causing the ultimate demise of the ¨fellow citizen¨ (Jackson
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