The Worst President Ever 5 July 2019.

Typically, the popular understanding of American history is that the Revolution gave rise to the Articles of Confederation (the first government of the United States); then that ramshackle arrangement soon proved unsatisfactory to many people; and then the present Constitution created the legal framework for subsequent American history.  In fact, there existed deep divide over several issues.  First, federalism (a union of sovereign stares) versus nationalism (a union of states under a strong central government).  Second, the divide—which would only grow until our own time—over who got to be a full “American.”  Those arguments had to be fought out over many presidential administrations.

Many of the contentious issues that would shape American society down to the present day became evident in the administration of Andrew Jackson (1767-1845).  Jackson served as the seventh president of the United States (1830-1838)

He believed that the final interpreter of the Constitution was the President, not the Supreme Court or the individual states.  It is in this light that one must see his opposition to John Calhoun’s doctrine of “interposition,[1] rather than in some doctrine of general federal supremacy.

He believed in the forced removal of the Native Americans to lands west of the Mississippi.  In 1830, he signed a federal law, the Indian Removal Act, which ordered the rapid evacuation of Native Americans from the Southeastern United States.[2]  He defied the Supreme Court to do so.

He opposed the Second Bank of the United States.  The Bank sold government bonds to finance the deficit; it issued a “sound” paper currency that allowed the economy to expand; and it provided credit for business.  In this sense, it served as a predecessor for the Federal Reserve System.  He believed that the Bank endangered American democracy and prosperity by concentrating excessive wealth and power in a few hands.  He vetoed the renewal of its government charter.

Jackson then began shifting federal funds from the Bank to a number of “pet” banks in the state.  Many of the “pet” banks were located in the West.  The principal use of credit in the West was land speculation.  This led to easy credit from the “pet” banks and much speculation in land.  At the same time, Eastern banks found themselves with declining reserves, so they raised interest rates.  In 1836, in an effort to rein-in speculation, Jackson issued a requirement that federal lands sold to the public be paid for in gold or silver, rather than in the inflated paper currency issued by state banks.  This “Specie Circular” was one, important, factor among several causes of the “Panic of 1837.”   The resulting recession dragged on into the 1840s.

A pre-Keynesian, he eliminated the deficit and paid off the national debt.

He appointed Roger B. Taney to be Chief Justice of the Supreme Court.  In the “Dred Scott Decision” (1857), Taney and the majority held that a) African-Americans could not be citizens, and b) that slavery could not be prohibited in the territories.

So, arguably, America’s worst president.

[1] “Interposition” meant that individual states could block the local enforcement of federal laws which the state government considered to be unconstitutional.

[2] See: https://en.wikipedia.org/wiki/Indian_Removal_Act.  Enforcement of the Act resulted in the “Trail of Tears.”  See: https://en.wikipedia.org/wiki/Trail_of_Tears

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