Confronting the Presidents: No Spin Assessments from Washington to Biden

Content Warning: This section of the guide includes discussion of death, racism, mental illness, death by suicide, and addiction.

President Martin Van Buren, nicknamed the “Little Magician” because of “his ability to craft political deals that seem impossible” (65, 68), was confronted with the Panic of 1837, an economic depression that caused the failure of hundreds of banks. The Panic of 1837 was caused by two of Andrew Jackson’s policies: his decision to close the national bank of the United States and the Specie Circular of 1836, which “required all purchases of land to be made in gold and silver instead of paper and coin” (66). Van Buren did “nothing” to address the Panic of 1837, which earned him the new nickname of “Martin Van Ruin” (66).

Van Buren was the first president to address slavery in his inaugural speech. He vowed to oppose any attempt to outlaw slavery in the District of Columbia or allow the federal government to regulate or ban slavery in pro-slavery states. As a senator, Van Buren shared Jackson’s belief in states’ rights and formed a new political party, the Democratic Party, to promote Jackson’s policies. Later, Van Buren gave up a position as governor of New York to become Jackson’s secretary of state.