BOOK REVIEW
LIBERTY AND POWER, HARRY L. WATSON, THE NOON DIAL PRESS, NEW YORK, 1990
The central story line of the Jacksonian period economically, socially and politically was the fight over the establishment, continuation and rechartering of the Bank of the United States which despite its name was a privately owned corporation headed by the notorious Nicholas Biddle. In short the story was, as almost always under capitalism, about the money. Hard money, paper money, metallic money, federal money, state money, no money. It is all there. As confusing and, frankly, somewhat trivial as the issues may seem to the 21st century mind the various fights determined the path of capitalist formation for the rest of the 19th century. One does not have to be a partisan of any particular monetary policy to know that if the Biddle-led forces had won then capital formation in the United States would have taken a very different turn. Thus, the essential Jacksonian victory on the bank question is one that militants today can give a retroactive endorsement. This is the story the author tries to bring to life. I believe that Arthur Schlesinger, Jr.'s Age of Jackson is still the definitive general work on the period but if you need a shorter overview this book will suffice.
Although control of the money was the underlying premise for the political fights of the day they also represented some very different appreciations of what American society should look like. Watson goes to great pains to highlight the various factions within each of the coalescing parties that would come to form the Democratic and Republican two-party system that we are familiar with today. Watson does a better job on the formation of the party system than Schlesinger. The fights outlined had different implications for differing sections of the country. In that regard the names Daniel Webster, John C. Calhoun and Henry Clay and their various congressional devotees can generally stand to represent the various sectional interests. One might also note that names that became familiar in the immediate pre-Civil War period, like Abraham Lincoln, James Buchanan, John Bell, Gideon Welles, William Seward, etc. started to receive political notice as secondary figures during this period.
One should also note that this was a period of political realignment and that the political situation was fluid enough that with changing political winds the various leading personalities were as likely to change sides as not. Readers should pick up the trail that is only alluded to here on the importance on the third party Liberty and Free Soil Parties. Despite that lapse dealing with the various political manifestations of the period is the strongest part of Mr. Watson's book.
LIBERTY AND POWER, HARRY L. WATSON, THE NOON DIAL PRESS, NEW YORK, 1990
The central story line of the Jacksonian period economically, socially and politically was the fight over the establishment, continuation and rechartering of the Bank of the United States which despite its name was a privately owned corporation headed by the notorious Nicholas Biddle. In short the story was, as almost always under capitalism, about the money. Hard money, paper money, metallic money, federal money, state money, no money. It is all there. As confusing and, frankly, somewhat trivial as the issues may seem to the 21st century mind the various fights determined the path of capitalist formation for the rest of the 19th century. One does not have to be a partisan of any particular monetary policy to know that if the Biddle-led forces had won then capital formation in the United States would have taken a very different turn. Thus, the essential Jacksonian victory on the bank question is one that militants today can give a retroactive endorsement. This is the story the author tries to bring to life. I believe that Arthur Schlesinger, Jr.'s Age of Jackson is still the definitive general work on the period but if you need a shorter overview this book will suffice.
Although control of the money was the underlying premise for the political fights of the day they also represented some very different appreciations of what American society should look like. Watson goes to great pains to highlight the various factions within each of the coalescing parties that would come to form the Democratic and Republican two-party system that we are familiar with today. Watson does a better job on the formation of the party system than Schlesinger. The fights outlined had different implications for differing sections of the country. In that regard the names Daniel Webster, John C. Calhoun and Henry Clay and their various congressional devotees can generally stand to represent the various sectional interests. One might also note that names that became familiar in the immediate pre-Civil War period, like Abraham Lincoln, James Buchanan, John Bell, Gideon Welles, William Seward, etc. started to receive political notice as secondary figures during this period.
One should also note that this was a period of political realignment and that the political situation was fluid enough that with changing political winds the various leading personalities were as likely to change sides as not. Readers should pick up the trail that is only alluded to here on the importance on the third party Liberty and Free Soil Parties. Despite that lapse dealing with the various political manifestations of the period is the strongest part of Mr. Watson's book.
