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Martin Van Buren

Martin Van Buren

Martin Van Buren was the eighth President of the United States (1837-1841), after serving as the eighth Vice President and the tenth Secretary of State, both under President Andrew Jackson. While the country was prosperous when the "Little Magician" was elected, less than three months later the financial panic of 1837 punctured the prosperity.


As a young lawyer he became involved in New York politics. As leader of the "Albany Regency," an effective New York political organization, he shrewdly dispensed public offices and bounty in a fashion calculated to bring votes. Yet he faithfully fulfilled official duties, and in 1821 was elected to the United States Senate.

By 1827 he had emerged as the principal northern leader for Andrew Jackson. President Jackson rewarded Van Buren by appointing him Secretary of State. As the Cabinet Members appointed at John C. Calhoun's recommendation began to demonstrate only secondary loyalty to Jackson, Van Buren emerged as the President's most trusted adviser. Jackson referred to him as, "a true man with no guile."

The rift in the Cabinet became serious because of Jackson's differences with Calhoun, a Presidential aspirant. Van Buren suggested a way out of an eventual impasse: he and Secretary of War Eaton resigned, so that Calhoun men would also resign. Jackson appointed a new Cabinet, and sought again to reward Van Buren by appointing him Minister to Great Britain. Vice President Calhoun, as President of the Senate, cast the deciding vote against the appointment--and made a martyr of Van Buren.

The "Little Magician" was elected Vice President on the Jacksonian ticket in 1832, and won the Presidency in 1836.

Van Buren devoted his Inaugural Address to a discourse upon the American experiment as an example to the rest of the world. The country was prosperous, but less than three months later the panic of 1837 punctured the prosperity.


In 1837 the panic began. Hundreds of banks and businesses failed. Thousands lost their lands. For about five years the United States was wracked by the worst depression thus far in its history.

Programs applied decades later to alleviate economic crisis eluded both Van Buren and his opponents. Van Buren's remedy--continuing Jackson's deflationary policies--only deepened and prolonged the depression.

Declaring that the panic was due to recklessness in business and overexpansion of credit, Van Buren devoted himself to maintaining the solvency of the national Government. He opposed not only the creation of a new Bank of the United States but also the placing of Government funds in state banks. He fought for the establishment of an independent treasury system to handle Government transactions. As for Federal aid to internal improvements, he cut off expenditures so completely that the Government even sold the tools it had used on public works.




Learn more about Martin Van Buren's spouse, Hannah Hoes Van Buren.

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