Martin Van Buren Facts & Worksheets

• Dismantling of the Second Bank of the United States: Andrew Jackson, Van Buren's predecessor, had vetoed the recharter of the Second Bank of the United States, effectively dismantling it in 1833. This decision contributed to the economic instability, as the absence of a central bank made it more difficult to control the flow of currency and stabilise the economy.
• Specie Circular: President Jackson's issuance of the Specie Circular in 1836, which required payment for public lands to be made in gold and silver, caused a drain on the nation's reserves of specie and contributed to a credit crunch and further economic turmoil.
• International Factors: Economic problems in Europe, particularly in England, also played a role in the Panic of 1837. A contraction in British credit and a downturn in the English economy had repercussions in the United States, leading to a reduction in investment and trade.
• Overexpansion: The economic growth and land speculation in the west outpaced the actual development and productivity of the region. This overexpansion left many individuals and businesses highly leveraged and vulnerable to economic shocks. In response to the economic downturn, Van Buren focused on the practice of financial regulation and fiscal restraint. He refused to revoke the Specie Circular for fear that it would further destabilise the financial system. He hesitated to deviate from a Jacksonian approach.
• The decision to keep the Specie Circular was Van Buren's first step to separate the government from all banking operations. In 1837, he established an independent Treasury system, also known as the subtreasury system, to maintain government funds in its own vaults, separate from the private banks. This move was seen as an attempt to stabilise the economy and prevent future financial crises by reducing the reliance on a national bank.
• Despite his efforts, the economic downturn persisted, leading to widespread unemployment and business failures. Van Buren's response to the Panic of 1837 was met with mixed reactions. He faced opposition from the conservative Democrats, who favoured the use of a national bank, and the newly formed Whig Party, which sought to challenge the dominance of the Democratic Party.
• A coalition of Whigs and Democrats revoked the Specie Circular in 1838. A surplus of cotton led to the start of the Panic of 1839, the second economic crisis. Bank failures occurred, industries laid off workers, land prices crashed, and the cotton trade stopped producing as much revenue. Van Buren's Independent Treasury proposal was passed by Congress in June 1840, in part as a reaction to this second economic depression. On the other hand, the Independent Treasury system was set to be abolished by the Whigs in 1841, but it was resurrected in 1846 and continued until the Federal Reserve Act was passed in 1913.

Foreign Affairs and the Amistad Case

• During his presidency, Van Buren's foreign policy focused on maintaining diplomatic relations and navigating international issues, particularly in the Western Hemisphere. His administration navigated relations with the Republic of Texas, which had declared independence from Mexico in 1836. 
• The issue of Texas annexation and its implications for the balance of power and the institution of slavery shaped diplomatic discussions with Mexico and other nations. Rejecting Jackson's threat to use force to settle a long-running financial dispute between the American people and the Mexican government, Van Buren offered a diplomatic alternative.
• Tensions along the border with Canada were also a significant concern during Van Buren's presidency. Incidents of violence and conflict between settlers and authorities from both the United States and Canada were not uncommon. 
• One notable event was the Aroostook War, also known as the Pork and Beans War, which occurred in 1838–1839 and involved tensions over the boundary between the United States state of Maine and the British Canadian province of New Brunswick. The dispute escalated to the point where both sides mobilised troops, leading to a brief but intense stand-off.
• In response to these border violences, Van Buren sought diplomatic solutions to ease tensions and prevent further escalation. He worked closely with the British government to negotiate, establish clearer border demarcations, and address the underlying issues that led to the conflicts. His administration managed to avoid a full-scale confrontation with Canada.
• Another notable event of Van Buren's presidency that concerned his administration's foreign affairs was the Amistad case in 1839. The case involved a group of African captives who had rebelled against their Spanish captors aboard the ship Amistad and subsequently sought refuge in the United States. Upon their arrival in the United States, the African captives were imprisoned and faced legal proceedings to determine their fate. 
• Van Buren's administration initially supported the position of Spain, which claimed the Africans as their property and demanded their return. However, abolitionists and anti-slavery advocates rallied behind the cause of the Amistad captives, arguing for their freedom and protection from being unlawfully enslaved.
• Van Buren's administration faced the challenge of determining whether the Africans should be considered salvage from the vessel or, as they argued, free individuals who had been wrongfully enslaved. The case eventually reached the US Supreme Court, where former President John Quincy Adams passionately defended the rights of the Amistad captives.
• In a landmark decision, the court ruled in favour of the Africans, affirming their status as free individuals and rejecting the claims of the Spanish government. The outcome of the Amistad case was a significant victory for the abolitionist movement and a powerful statement against the institution of slavery.
• Van Buren's handling of the Amistad case reflected the complexities of his administration's foreign policy and his approach to domestic issues, particularly regarding the contentious matter of slavery. 
• His administration's initial stance aligned with diplomatic considerations and international relations with Spain, but the eventual legal resolution underscored the broader moral and humanitarian dimensions that transcended national borders.