Martin Van Buren was the last person, prior to the late George H. W. Bush, to serve as Vice-President under a two-term President and then win election to the presidency himself. Like the first President Bush, Van Buren was also a one-term president and lost his bid for re-election.
Martin Van Buren was the 8th President of the United States and today is his birthday. Van Buren, also known as "the Little Magician" for his political prowess, was born on December 5, 1782 (239 years ago today) in the village of Kinderhook, New York. His father Abraham Van Buren was a farmer and a tavern keeper who was also the owner of six enslaved persons. Although he would serve as Vice President in the administration of one of the most staunch defenders of the institution of slavery (Andrew Jackson), Little Van would later break with his party on that issue.
They called him "Little Van", most likely because he was one of the shortest Presidents at 5 feet, 6 inches. Van Buren was known as for his impeccable appearance, notwithstanding his humble background. This was something that was used against him by the Whig Party spin doctors in the election of 1840. As a young lawyer he became involved in New York politics rising to a lofty position in his New York political organization from which he dispensed public offices to optimum effect for his party. In 1821 was elected to the United States Senate.
By 1827 he had emerged as the principal northern leader for President Andrew Jackson. Jackson rewarded Van Buren by appointing him Secretary of State, which in those days gave one a leg up in the race to become president. Van Buren emerged as Jackson's most trusted adviser. Jackson described Van Buren as "a true man with no guile."
A rift developed in Jackson's Cabinet became serious because of Jackson's differences with Vice President John C. Calhoun over nullification of federal laws and also because of something called "the Petticoat Affair" in which the wives of Jackson's cabinet became very catty to Peggy Eaton, the wife of Jackson's Secretary of War. When Jackson asked for the resignations of his cabinet, Van Buren and Secretary Eaton resigned and Jackson appointed a new Cabinet. He rewarded Van Buren by appointing him Minister (Ambassador) to Great Britain. Vice President Calhoun, as President of the Senate, cast the deciding vote against the appointment. In response, Jackson dumped Calhoun from the Democratic Party ticket in the next election and replaced him with Van Buren, who was elected Vice President in 1832. Jackson groomed Van Buren to be his successor and Van Buren was elected President in 1836.
When Van Buren took office the country was prosperous, but less than three months later the panic of 1837 struck and that prosperity was gone quickly. Andrew Jackson's financial measures contributed to the crash, but the country blamed Van Buren. Jackson's destruction of the Second Bank of the United States had removed restrictions upon the inflationary practices of some state banks. Wild speculation in lands, based on easy bank credit, had swept the West. To end this speculation, in 1836 Jackson required that land be purchased with gold or silver. As a result hundreds of banks and businesses failed. Thousands lost their lands. For about five years the nation suffered the worst depression thus far in its history.
Van Buren's remedy was to continue Jackson's deflationary policies. It just made things worse. Van Buren opposed the creation of a new Bank of the United States and also opposed placing government funds in state banks. He fought for the establishment of an independent treasury system to handle Government transactions.
As President Van Buren was opposed to the expansion of slavery. He blocked the annexation of Texas because it would add to slave territory, an issue on which he broke with his mentor, Old Hickory. Van Buren was defeated by Whig candidate William Henry Harrison in his 1840 bid for reelection in the "Whiskey and Hard Cider" campaign, which utilized the "Tippecanoe and Tyler Too" slogan and song.
Van Buren ran for his party's nomination for President again in the next election (1844), but without Jackson's support there was no chance of his getting the required two-thirds majority vote among the delegates. He ran for President yet again in 1848, this time on the Free Soil Party ticket (an anti-slavery party), but he lost once again.
Van Buren retired to his home in Kinderhook. He was one of five ex-presidents still living when the Civil War broke out, and once the war began, Van Buren made public his support for the Union. He supported Abraham Lincoln's efforts to prevent the southern states from seceding. After being bedridden with a case of pneumonia during the fall of 1861, Martin Van Buren died of bronchial asthma and heart failure at his Lindenwald estate in Kinderhook at 2:00 a.m. on July 24, 1862. He was 79 years old.