Bank War Essays - Financial Crises, Free Essays, Term Papers

Bank War Essays - Financial Crises, Free Essays, Term Papers Bank War Did the Bank War cause the Panic of 1837? Richard Hofstadter from The American Political Tradition and the Men Who Made It believes President Andrew Jackson?s refusal to recharter the Bank of the United States was politically popular but economically harmful to the long-term growth of the United States. Peter Tenim, from The Jacksonian Economy, believes international factors, such as changes in the monetary policies of the Bank of England, the supply of silver from Mexico, and the price of southern cotton, were far more important than Jackson?s banking policies in determining fluctuations in the 1830s economy. The two intelligent men present their facts and arguments well and make it hard for the reader to mold their opinion for either side. After reading both arguments and thoroughly reviewing the facts stated, I took the side of Peter Tenim by saying that the war against the Bank of the United States was not the cause of the Panic of 1837. I have to agree with Mr. Tenim simply because there were more factors present in his opinion involving the Panic of 1837. The opinion of Mr. Hofstadter revolved around one factor, which was the war against the Bank of the United States. In order to somewhat disprove Mr. Hofstadter?s theory, I believe we have to analyze the relationship between President Andrew Jackson and Nicholas Biddle, who at the time was the President of the Bank. Mr. Jackson was very much a man of the middle class. He believed in the American dream of becoming an entrepreneur and the opportunity to create wealth for oneself. He disliked the cheap and sometimes-worthless paper money the banks printed. The only money he trusted was hard money, gold and silver. He was especially bitter against the Bank of the United States, which with its monopoly of the government?s business was a symbol of all hated special privilege. He thought it was evil as well as unconstitutional, and he loathed it. More impo! rtantly though, he was a person who had experience using the so-called capital makers of the time and trying to start businesses. For example, the one time in his career President Jackson owned land, which he sold to various individual and received notes as payments. Unfortunately, these buyers were unable to pay back the notes and President Jackson lost his land. He then had to start from scratch. He also had become a debtor and due to financial hardships, he was unable to pay off his own debts. President Jackson was faced with a double-sided sword because people were unable to repay the debts owed to him, while at the same time he could not pay the debts he owed to others. Nicholas Biddle, on the other hand, was an entirely different man. Biddle knew how Jackson felt about the Bank but wanted the President to be on good terms with it. Henry Clay, though, saw the Bank issue as a way to defeat Jackson in the 1832 election. Clay induced Biddle to apply for a new charte! r for the Bank early in 1832. He believed that if Jackson dared to veto the recharter bill, he would lose the election. The plan did not go according for Mr. Clay and Mr. Biddle and Jackson was still the favorite among the people. President Jackson and Nicholas Biddle were never met good terms with each other and their relationship was one of argument and disagreement. In my opinion, Biddle wanted to keep the Bank of the United States intact for the sole purpose of benefiting the aristocrats and the politically involved. Biddle was not, though, the cause of the Panic of 1837. The depression of the early 1840s was neither as serious as historians assume nor the fault of Biddle. It was primarily a deflation, as opposed to a decline in production, and it was produced by events over which Biddle had little control over. Mr. Jackson?s view of banks was a very distressing one. He, along with the people of his party, believed the same ideology that the banks were in favor of the wealthy and those with political advantage. The only people who benefited from the banks were the ?wall-street? types and

Amazing Sand Dollar Facts

Amazing Sand Dollar Facts A sand dollar (Echinarachnius parma) is an echinoid, a type of invertebrate animal whose skeletons- called tests- are commonly found on beaches the world over. The test is usually white or grayish-white, with a star-shaped marking in its center. The common name for these animals comes from their likeness to silver dollars. When they are alive, sand dollars look much different. They are covered with short, velvety spines that  are colored purple to reddish brown. Fast Facts: Sand Dollar Scientific Name: Echinarachnius parmaCommon Name(s): Common sand dollar or northern sand dollar; also known as sea cookies, snapper biscuits, sand cakes, cake urchins, or pansy shellsBasic Animal Group: InvertebrateSize: Live adult animals measure between 2–4 inches in diameter, and approximately 1/3 inch thick  Lifespan: 8–10 yearsDiet:  CarnivoreHabitat: Northern parts of the Atlantic and Pacific oceansPopulation: UnknownConservation Status: Not evaluated Description Living animals of the common sand dollar (Echinarachnius parma) species are generally sub-circular, measuring approximately 2–4 inches across, and are coated with spines that are purple, reddish-purple or brown in color. The test of the sand dollar is its endoskeleton- it is called an endoskeleton because it lies underneath the sand dollars  spines and skin, and it is made of fused calcareous plates. This is different than the skeletons of other echinoderms- sea stars, basket stars, and brittle stars have smaller plates that are flexible, and the skeleton of sea cucumbers is made up of tiny ossicles buried in the body. The top (aboral) surface of the sand dollar test  has a pattern that looks like five petals. There are five sets of tube feet that extend from these petals, which the sand dollar uses for respiration. The sand dollars anus is located at the rear of the animal- found in the edge of the test below the single vertical line extending from the center of the star. Sand dollars move by using the spines located on their underside.   Daniela Duncan / Getty Images Species Sand dollars are echinoderms, which means like sea stars, sea cucumbers, and sea urchins, they have a radiating arrangement of parts and a body wall stiffened by bony pieces such as spines. In fact, they are basically flat sea urchins and are in the same class, Echinoidea, as sea urchins. This class is divided into two groups: the regular echinoids (sea urchins and pencil urchins) and irregular echinoids (heart urchins, sea biscuits, and sand dollars). The irregular echinoids have a front, a back and basic bilateral symmetry on top of the normal pentameral symmetry (five parts around a center) that regular echinoids possess.   There are many species  of sand dollars. Besides E. parma, those found commonly in the United States include: Dendraster excentricus  (Eccentric, western, or Pacific sand dollar) are found in the Pacific Ocean from Alaska to Baja, California. These sand dollars grow to about 4 inches across and have gray, purple or blackish spines.Clypeaster subdepressus  (Sand dollar, sea biscuit) live in the Atlantic Ocean and the Caribbean Sea, from the Carolinas to Brazil.  Mellita sp. (Keyhole sand dollars or keyhole urchins) are found in tropical waters in the Atlantic, Pacific, and the Caribbean Sea. There are approximately 11 species of keyhole sand dollars. Sand dollars are classified as follows: Kingdom: AnimaliaPhylum: EchinodermataClass:  Clypeasteroida (includes sand dollars and sea biscuits) Habitat and Distribution Common sand dollars have been found throughout the North Pacific and eastern North Atlantic oceans, at locations from just below the intertidal zone to more than 7,000 feet.  As their name suggests, sand dollars prefer to live in the sand, in densities ranging between .5 and 215 per 10.7 square foot. They use their spines to burrow into the sand, where they seek protection and food.  Adult sand dollars- those over 2 inches in diameter- live in the intertidal zone. Most sand dollars live in seawater (saline environments), although some species do occur in estuarine habitats which combine of river and lake water, and are chemically distinct from saline or freshwater environments. Studies show that sand dollars require a certain level of salinity to fertilize their eggs. The sand dollar uses its spines to burrow into sand. Douglas Klug / Getty Images Diet and Behavior Sand dollars feed on small food particles in the sand, typically microscopically sized algae, but they do also eat fragments of other animals and have been classed as carnivores according to the World Register of Marine Species. The particles land on the spines, and then are transported to the sand dollars mouth by its tube feet, pedicellaria (pincers), and mucous-coated cilia. Some sea urchins rest on their edges in the sand to maximize their ability to catch prey that is floating by.   Like other sea urchins, the mouth of a sand dollar is called Aristotles lantern and is made up of five jaws. If you pick up a sand dollar test and shake it gently, you may hear the pieces of the mouth rattling inside. Reproduction and Offspring There are male and female sand dollars, although, from the outside, it is difficult to tell which is which. Reproduction is sexual and accomplished by the sand dollars releasing eggs and sperm into the water. The fertilized eggs are yellow in color and coated in a protective jelly, with an average diameter of about 135 micros, or 1/500th of an inch. They develop into tiny larvae, which feed and move using cilia. After several weeks, the larva settles to the bottom, where it metamorphoses. Juveniles (under 2 inches in diameter) are found in the subtidal zones and slowly migrate into exposed beach areas as they mature; the smallest are found in the highest beach elevations. They can bury themselves in the sand up to two inches deep, and very dense populations can stack themselves up to three animals deep. Threats Sand dollars may be affected by fishing, especially from bottom trawling, ocean acidification, which may affect the ability to form the test;  climate change, which might affect available habitat; and collection. Reduced salinity lowers fertilization rates. Although you can find plenty of information on how to preserve sand dollars, you should collect only dead sand dollars, never live ones. Sand dollars are not eaten by humans, but they can be prey for sea stars, fish, and crabs. Conservation Status The sand dollar is not currently listed as an endangered species. Sand Dollars and Humans Sand dollar tests are sold in shell shops and on the internet, for decorative purposes or souvenirs and often with a card or inscription referencing the  Legend of the Sand Dollar. Such references are associated with Christian mythology, suggesting that the five-pointed star in the center of the top of the sand dollars test is a representation of the Star of Bethlehem that guided the wise men to the baby Jesus. The five openings in the test are said to represent Jesuss wounds during his crucifixion: the four wounds in his hands and feet and the fifth in his side. On the underside of the sand dollar test, it is said that there is an outline of a Christmas poinsettia; and if you break it open, you will find five small bones that represent doves of peace. These doves are actually the five jaws of the sand dollars mouth (Aristotles lantern).   Other lore about sand dollars references the washed-up tests as mermaid coins or coins from Atlantis. Sources Allen, Jonathan D., and Jan A. Pechenik. Understanding the Effects of Low Salinity on Fertilization Success and Early Development in the Sand Dollar Echinarachnius Parma. The Biological Bulletin 218 (2010): 189–99. Print.Brown, Christopher L. Substrate Preference and Test Morphology of a Sand Dollar (Echinarachnius Parma) Population in the Gulf of Maine. Bios 54.4 (1983): 246–54. Print.Coulombe, Deborah. Seaside Naturalist: A Guide to Study at the Seashore. Simon Schuster, 1980..Echinarachnius parma (Lamarck, 1816). World Register of Marine Species.Echinarachnius parma (Lamarck 1816). Encyclopedia of Life.  Ellers, Olaf, and Malcolm Telford. Collection of Food by Oral Surface Podia in the Sand Dollar, Echinarachnius Parma (Lamarck). The Biological Bulletin 166.3 (1984): 574–82. Print.Harold, Antony S., and Malcolm Telford. Substrate Preference and Distribution of the Northern Sand Dollar, Echinarachnius Parma (Lamarck). International Echinoderms Conference. Ed . Lawrence, J.M.: A.A. Balkema, 1982. Print. Kroh, Andreas. Clypeasteroida. World Echinoidea Database, 2013.Pellissier, Hank. Local Intelligence: Sand Dollars. The New York Times, January 8, 2011. Smith, Andrew. B. Skeletal morphology of sand dollars and their relatives. The Echinoid Directory. Waggoner, Ben. Introduction to the Echinoidea. University of California Museum of Paleontology, 2001.