Introduction
Our last time capsule walked us through the decade from 1820 to 1829. It was an eventful year that saw a lot of notable events happen. Now, it’s time to cover the events that happened from 1830 to 1839. How did those events shape the real estate market of the United States as we know it today?
Three Key Points
1. Panic of 1837: The Panic of 1837 was a financial crisis that rocked the United States economy, leading to widespread economic hardship and political repercussions. The origins of the panic can be traced back to several factors, including rampant speculation in land and commodities, the bursting of speculative bubbles, and the policies of President Andrew Jackson’s administration. Jackson’s opposition to the Second Bank of the United States and his subsequent withdrawal of federal funds from the bank contributed to the destabilization of the banking system, leading to a loss of confidence among investors and a cascade of bank failures.
As the panic unfolded, it triggered a severe economic downturn marked by widespread bankruptcies, unemployment, and a sharp decline in industrial production. The collapse of the banking system resulted in a severe credit crunch, making it difficult for businesses to obtain financing and causing many to shut down. The effects of the panic were felt across the country, from the bustling urban centers to the rural areas, where farmers suffered from falling agricultural prices and limited access to credit.
The Panic of 1837 had profound political consequences, shaping the course of American politics for years to come. It fueled resentment against Jackson’s policies, particularly his dismantling of the Second Bank of the United States, and contributed to the rise of the Whig Party, which advocated for a stronger federal role in regulating the economy. The panic also highlighted the vulnerabilities of the American financial system and prompted calls for reform, laying the groundwork for future debates over banking regulation and the role of government in economic affairs.
2. Texas Revolution: The Texas Revolution, which spanned from 1835 to 1836, was a pivotal event in the history of both Texas and the United States. It began as a struggle by Texan colonists to break away from Mexican rule under President Antonio López de Santa Anna. The revolution was fueled by a variety of grievances, including the centralization of power in Mexico City, the erosion of local autonomy, and the abolition of the 1824 Mexican Constitution. The Texan rebels, led by figures such as Sam Houston and Stephen F. Austin, fought a series of battles against Mexican forces, culminating in the decisive Battle of San Jacinto in April 1836, where they secured victory and effectively gained independence for the Republic of Texas.
The Texas Revolution had significant implications for the United States, both politically and territorially. Many Americans sympathized with the Texan cause, viewing it as a struggle for liberty and self-determination against an oppressive government. Volunteers from the United States, known as “Texian” or “Texan” volunteers, flocked to Texas to join the fight, swelling the ranks of the Texan army and providing crucial support. Additionally, the outcome of the revolution had profound implications for the expansionist ambitions of the United States. The newly independent Republic of Texas presented an opportunity for territorial expansion, particularly as Texas sought annexation by the United States, a move that would eventually lead to the Mexican-American War and the acquisition of vast territories in the Southwest.
The annexation of Texas by the United States in 1845 sparked controversy and tension, particularly regarding the issue of slavery. Texas had legalized slavery, and its annexation as a slave state fueled debates over the balance of power between free and slave states in Congress. The annexation of Texas also heightened tensions with Mexico, which viewed the annexation as a violation of its territorial sovereignty and a catalyst for future conflict. Ultimately, the Texas Revolution and its aftermath played a pivotal role in shaping the trajectory of American expansionism and the complex dynamics of antebellum politics leading up to the Civil War.
3. New States and Territories: Two states were added into the union during the decade covered by this Time Capsule. In 1836 Arkansas was admitted into the union as the 25th state. The following year it was followed by Michigan.
The creation of the Wisconsin Territory in 1836 marked a significant milestone in the westward expansion of the United States and the settlement of the American frontier. Established by an act of Congress, the Wisconsin Territory encompassed a vast area of land west of Lake Michigan, extending to the Mississippi River and northward to the Canadian border. The territory was carved out of the larger Michigan Territory in response to the increasing influx of settlers and the need for more efficient governance in the region.
As settlers moved into the territory, attracted by fertile land and economic opportunities, towns and cities began to spring up along major waterways and transportation routes. The creation of the Wisconsin Territory not only facilitated the orderly settlement of the region but also set the stage for future statehood, as Wisconsin would eventually join the Union as the 30th state in 1848, reflecting the ongoing expansion and development of the United States during the 19th century.
In 1838 the Iowa territory was created. Formed from land previously part of the Wisconsin Territory, the Iowa Territory encompassed a vast expanse of the American Midwest. Its establishment reflected the growing population and settlement in the region, as pioneers sought new opportunities on the frontier. The territory’s rich agricultural land attracted farmers, while its strategic location along the Mississippi River facilitated trade and transportation. The creation of the Iowa Territory laid the groundwork for future statehood, with Iowa joining the Union as the 29th state in 1846.
Headline Real Estate News Stories In 1830-1839
Several events made it to the headlines during the decade which had a major impact on the real estate market of the country.
First, there was the Black Hawk War a conflict that occurred in 1832 in the Upper Midwest region of the United States, primarily in present-day Illinois and Wisconsin. The war was named after Black Hawk, a prominent Sauk leader who led a faction of Sauk and Fox tribes to resist the forced removal of their people from their ancestral lands. The conflict arose due to tensions over land ownership and the implementation of treaties that ceded Native American territory to the United States.
The war began when Black Hawk and his followers crossed the Mississippi River back into Illinois, defying a previous treaty that had moved the Sauk and Fox tribes to Iowa. The conflict escalated as clashes occurred between Native American warriors and U.S. military forces and militia groups. Despite initial successes, including victories at the Battle of Stillman’s Run, Black Hawk’s forces were ultimately defeated at the Battle of Bad Axe, effectively ending the war.
The Black Hawk War had significant consequences for Native American tribes in the region. Following the conflict, Black Hawk and his followers were forcibly removed from their lands and relocated to reservations in present-day Iowa and Kansas. The war also marked a turning point in the settlement of the Midwest, as it opened additional land for American settlers and accelerated the displacement of Native American communities.
Then there was the Great Fire of New York, which happened in 1835. The fire was a catastrophic event that devastated a significant portion of lower Manhattan. The fire broke out on the evening of December 16th in a commercial district near Wall Street and quickly spread due to strong winds and the dense concentration of wooden buildings in the area. Despite efforts by firefighters, who were hindered by outdated equipment and inadequate water supply, the blaze raged out of control for several days, consuming block after block of buildings and leaving widespread destruction in its wake.
The fire destroyed over 600 buildings, including many warehouses, stores, and tenements, and caused millions of dollars in property damage. Although the exact cause of the fire was never determined, it is believed to have started in or near a five-story warehouse on Merchant Street. The Great Fire of New York underscored the need for improved firefighting techniques and infrastructure in the rapidly growing city, leading to reforms such as the establishment of a professional fire department and the installation of more reliable water distribution systems. Despite the devastation, the city ultimately rebounded from the disaster, rebuilding and expanding in the years that followed
What Historic Real Estate Events Shaped 1830-1839
Slavery was starting to become one of the most divisive issues facing the country during the decade that is covered by this Time Capsule. The decision to bring in slaves and to use them for labor was one made hundreds of years in the past at that time, but it was proving to be a sore point for the country.
Economic Factors, Supply, and Demand
The Panic of 1837 was the most important economic event that happened during this period. It caused a lot of people to lose their fortunes.
Government Policies and Interventions
The Indian Removal Act of 1830 was a controversial piece of legislation signed into law by President Andrew Jackson. It authorized the forced relocation of Native American tribes from their ancestral homelands in the southeastern United States to designated lands west of the Mississippi River, known as Indian Territory (present-day Oklahoma). The act led to the displacement of tens of thousands of Native Americans, primarily from the Cherokee, Chickasaw, Choctaw, Creek, and Seminole nations, in what became known as the Trail of Tears. The Indian Removal Act represented a dark chapter in American history, marked by injustice, suffering, and the violation of indigenous rights.
The Trail of Tears occurred in the late 1830s because of the Indian Removal Act. It involved the forced relocation of Native American tribes, primarily the Cherokee, Chickasaw, Choctaw, Creek, and Seminole, from their ancestral lands in the southeastern United States to Indian Territory in present-day Oklahoma. The journey, characterized by harsh conditions, disease, and starvation, claimed the lives of thousands of Native Americans, with estimates of the death toll ranging from 4,000 to 6,000 individuals. The Trail of Tears stands as a poignant reminder of the injustices inflicted upon indigenous peoples during the era of westward expansion.
Then in 1833, the Office of Indian Affairs was established although that did not rectify the injustices that were inflicted upon the Native Americans. In 1835, the Treaty of Echota was signed. In this treaty, the Cherokee nation ceded its lands and agreed to move to the Indian Territory.
Demographic Factors
The Census of 1830 was a pivotal demographic survey conducted by the United States government, providing valuable insights into the nation’s population and social makeup during a period of significant growth and change. It recorded a population of about 12.9 million people, a notable increase since the previous census in 1820. The data collected in the census revealed demographic trends, such as population distribution, ethnic composition, and patterns of settlement, which helped policymakers and planners better understand the evolving needs of the country. The Census of 1830 played a crucial role in shaping policies and decisions related to representation, taxation, and infrastructure development across the expanding United States.
Societal Preferences and Trends
There was a marked rise in anti-slavery sentiment in the northern states of the Union. One of the results of this was the founding of the American Anti-Slavery Society in 1833 by prominent abolitionists including William Lloyd Garrison and Arthur Tappan, a leading organization dedicated to the abolition of slavery in the United States. It advocated for the immediate and unconditional emancipation of all enslaved individuals and sought to mobilize public opinion against the institution of slavery through lectures, publications, and grassroots organizing.
The society played a crucial role in galvanizing the abolitionist movement, sparking debates, inspiring activism, and laying the groundwork for future efforts to end slavery. Despite facing fierce opposition and violence from pro-slavery forces, the American Anti-Slavery Society remained steadfast in its commitment to achieving freedom and equality for all.
Cultural Factors
The decade was also culturally significant. The “Book of Mormon” was published in 1830. Then in 1835, P. T. Barnum started his career. In 1839 the first U.S. state law permitting women to own property was passed in Jackson, Mississippi.
Transportation and Infrastructure
There were several significant developments in the field of transportation during this decade. In 1831, Benjamin Bonneville led the first wagon train. It was the first of many that would cross the country. Then in 1834, the Wilmington and Raleigh Railroad was chartered which would usher in a new era of transportation in the United States.
The Thomas Viaduct, completed in 1835, stands as a remarkable engineering achievement of its time and a testament to the ingenuity of its designer, Benjamin Henry Latrobe II. Spanning the Patapsco River in Maryland, this stone masonry bridge served as a critical component of the Baltimore and Ohio Railroad, one of the earliest commercial railways in the United States. Rising 60 feet above the riverbed and stretching over 600 feet in length, the viaduct represented a bold feat of engineering, utilizing innovative construction techniques and sturdy granite blocks quarried from nearby Ellicott City. The Thomas Viaduct not only facilitated the efficient transportation of goods and passengers along the B&O Railroad but also set a new standard for railway bridge design, inspiring future generations of engineers and leaving an enduring legacy in American transportation history.
Closing This Capsule
This closes out our Realty Time Capsule. Watch out for our next one which would cover the years 1840 to 1849!
