Summary

Portrait of John Fiske John Fiske The Presidents of the United States… (1914)

Meanwhile the financial crisis of 1837 — the most severe, in many respects, that has ever been known in this country — had wrecked the administration of President Van Buren. The causes of that crisis, indeed, lay deeper than any acts of any administration. The primary cause was the sudden development of wild speculation in western lands, consequent upon the rapid building of railroads, which would probably have brought about a general prostration of credit, even if President Jackson had never made war upon the United States bank.
Source: Wikisource

Portrait of John Fiske John Fiske The Presidents of the United States… (1914)

Tyler's administration was taken up with the Ashburton treaty with Great Britain, the Oregon question, and the annexation of Texas. Texas had won its independence from Mexico in 1836, and its governor, as well as the majority of its inhabitants, were citizens of the United States. From a broad national standpoint it was in every way desirable that Texas, as well as Oregon, should belong to our Federal Union. In the eastern states there was certainly a failure to appreciate the value of Oregon, which was nevertheless claimed as indisputably our property.
Source: Wikisource

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