A+New+Party+Emerges+ab

President Jackson decided to dismantle the Second Bank of the United States. He voted a bill that would have extended the banks charter for 20 years. Then he forced the bank to end... By the mid-1830's those who criticized jacksons decision had formed a new political party called WHIGS. Led Henry Clay, Quincy Adams, and Daniel Webster, the whigs wanted to expand the the federal government, encourage industrial and commercial, and create a centralized econmy. The democrats differed from this because they favored a limited federal government. The whigs ran three candidates for president in the election of 1836. Democrat Martin Van Suren ended up winning. Shortly after Van Buren took office a crippling economic crisis hit the nation. The crisis streched back to the end of jacksons term a period in which investments in railroads, canals, and railroads boomed, prompting a wave of land speculation and bank lending. The heavy spending pushed up inflation which jackson feared eventually would happen. Nefore jackson left office issued a Specie Circular which ordered all payments for public lands must be payed in the form of silver and gold. With Van Buren clearly vulnerable the whigs easily won the 1840 election by nominating General William Henry. The Vce Pesident John Tyler took over. Tylers ascension of to the presidency disnmyed the Whig leaders.