Jacksonian Democracy: Myth or Reality?

By James L. Bugg Jr. | Go to book overview
Save to active project

BRAY HAMMOND ( 1886- ) has launched an attack on Schlesinger's interpretation of the Jacksonian opposition to the national bank, first in a review of the Age of Jackson and later in an article, both published in the Journal of Economic History ( 1946 and 1947). His book, from which the following section is taken, amplified and documented his charges and developed his "entrepreneural" thesis. The Jacksonian revolution, declared Hammond, placed in power a group of incipient entrepreneurs who employed agrarian ideology to accomplish nonagrarian objectives. The bank was destroyed because its power to regulate credit posed a threat to the Jacksonians in reaching their objectives.*

The Jacksonians


During the half century that ended with General Jackson's election, America underwent changes perhaps the most radical and sweeping it has ever undergone in so short a time. It passed the climacteric separating a modern industrial economy from an older one of handicraft; it passed from colonial weakness through bare independence to actual power and from an unjostled rural culture to the complexities of populousness, sectionalism, urban slums, mechanized industry, and monetary credit. Men who had spent their childhood in a thin line of sea-board colonies, close even in their little cities to the edge of the westward continental wilderness, spent their late years in a tamed and wealthy land spread already to the Missouri and about to extend beyond it. They lived to ride on railways and steamships, to use the products of steam-driven machinery, to dwell in metropolitan centers, and to feel within their grasp and the grasp of their sons more potential and accessible wealth than had ever before excited the enterprise of man.

An outstanding factor in the changes that came about was the flow of immigration from Europe. Between 1790 and 1840 the population grew from 4,000,000 to 17,000,000. In the latter year an average of 230 immigrants entered the

From Bray Hammond, Banks and Politics in America: From the Revolution to the Civil War. Copyright © 1957, by the Princeton University Press. Reprinted without footnotes by permission of the author and his publisher.


Notes for this page

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
Loading One moment ...
Project items
Cite this page

Cited page

Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

Cited page

Bookmark this page
Jacksonian Democracy: Myth or Reality?


Text size Smaller Larger
Search within

Search within this book

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

While we understand printed pages are helpful to our users, this limitation is necessary to help protect our publishers' copyrighted material and prevent its unlawful distribution. We are sorry for any inconvenience.
Full screen
/ 122

matching results for page

Cited passage

Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

Cited passage

Welcome to the new Questia Reader

The Questia Reader has been updated to provide you with an even better online reading experience.  It is now 100% Responsive, which means you can read our books and articles on any sized device you wish.  All of your favorite tools like notes, highlights, and citations are still here, but the way you select text has been updated to be easier to use, especially on touchscreen devices.  Here's how:

1. Click or tap the first word you want to select.
2. Click or tap the last word you want to select.

OK, got it!

Thanks for trying Questia!

Please continue trying out our research tools, but please note, full functionality is available only to our active members.

Your work will be lost once you leave this Web page.

For full access in an ad-free environment, sign up now for a FREE, 1-day trial.

Already a member? Log in now.

Are you sure you want to delete this highlight?