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The Only Time America Was Free of Debt—and How It Led to the Two-Party Political System
“An engaging treatment of a topic of perennial concern and frequent misunderstanding, this lucid tale of the brief moment when the United States was debt-free should be on every Congress member’s bedside table.”—Peter J.Woolley, Professor of Comparative Politics, Fairleigh Dickinson University
When President James Monroe announced in his 1824 message to Congress that, barring an emergency, the large public debt inherited from the War for Independence, the Louisiana Purchase, and the War of 1812 would be extinguished on January 1, 1835, Congress responded by crafting legislation to transform that prediction into reality. Yet John Quincy Adams,Monroe’s successor, seemed not to share the commitment to debt freedom, resulting in the rise of opposition to his administration and his defeat for reelection in the bitter presidential campaign of 1828. The new president, Andrew Jackson, was thoroughly committed to debt freedom, and when it was achieved, it became the only time in American history when the country carried no national debt. In A Nation Wholly Free: The Elimination of the National Debt in the Age of Jackson, award-winning economic historian Carl Lane shows that the great and disparate issues that confronted Jackson, such as internal improvements, the “war” against the Second Bank of the United States, and the crisis surrounding South Carolina’s refusal to pay federal tariffs, become unified when debt freedom is understood as a core element of Jacksonian Democracy.
The era of debt freedom lasted only two years and ten months. As the government accumulated a surplus, a fully developed opposition party emerged—the beginning of our familiar two-party system—over rancor about how to allocate the newfound money. Not only did government move into an oppositional party system at this time, the debate about the size and role of government distinguished the parties in a pattern that has become familiar to Americans. The partisan debate over national debt and expenditures led to poorly thought out legislation, forcing the government to resume borrowing. As a result, after Jackson left office in 1837, the country fell into a major depression. Today we confront a debt that exceeds $17 trillion. Indeed, we have been borrowing ever since that brief time we freed ourselves from an oversized debt. A thoughtful, engaging account with strong relevance to today, A Nation Wholly Free is the fascinating story of an achievement that now seems fanciful.

The scholars included in A Paler Shade of Red cover the 2008 presidential election with detailed, state-by-state analyses of how the presidential election, from the nomination struggle through the casting of votes in November, played out in the South. The book also includes examinations of important elections other than for president, and in addition to the single-state perspectives, there are three chapters that look at the region as a whole. Contributors are Scott E. Buchanan, John A. Clark, Patrick R. Cotter, Charles Bullock III, Rogert E. Hogan and Eunice H. McCarney, David A. Breaux and Stephen D. Shaffer, Cole Blease Graham, Jay Barth, Janine A. Parry and Todd G. Shields, Jonathan Knuckey, Charles Prysby, Ronald Keith Gaddie, Brian Arbour and Mark McKenzie, and John J. McGlennon, all collected here to provide powerful insight into southern politics today.

All Alabama elections are colorful, but the 1986 gubernatorial contest may trump them all for its sheer strangeness
 
With the retirement of an aging and ill George Wallace, both the issues and candidates contending for the office were able to set the course of Alabama politics for generations to follow. Whereas the Wallace regimes were particular to Alabama, and the gubernatorial campaign was conducted in a partial vacuum with his absence, Alabama also experienced a wave of partisan realignment. A once solidly Democratic South was undergoing a tectonic political shift as white voters in large numbers abandoned their traditional Democratic political home for the revived Republicans, a party shaped in many respects by the Wallace presidential bids of 1968 and 1972 and the Reagan revolution of the 1980s.
 
Alabama's own Democratic Party contributed to this massive shift with self-destructive campaign behavior that disgusted many of its traditional voters who wound up staying home or voting for a little-known Republican. From the gubernatorial election of 1986 came the shaky balance between the two parties that exists today.
 
After Wallace recollects and analyzes how these shifts occurred, citing extensive newspaper coverage from the time as well as personal observations and poll data collected by the authors. This volume is certain to be a valuable work for any political scientist, especially those with an interest in Alabama or southern politics.

 

Most people believe that large corporations wield enormous political power when they lobby for policies as a cohesive bloc. With this controversial book, Mark A. Smith sets conventional wisdom on its head. In a systematic analysis of postwar lawmaking, Smith reveals that business loses in legislative battles unless it has public backing. This surprising conclusion holds because the types of issues that lead businesses to band together—such as tax rates, air pollution, and product liability—also receive the most media attention. The ensuing debates give citizens the information they need to hold their representatives accountable and make elections a choice between contrasting policy programs.

Rather than succumbing to corporate America, Smith argues, representatives paradoxically become more responsive to their constituents when facing a united corporate front. Corporations gain the most influence over legislation when they work with organizations such as think tanks to shape Americans' beliefs about what government should and should not do.

Voters may not know the details of specific policies, but they have a general sense of how well Congress serves their own interests; and astute politicians pay attention to public approval ratings. When the majority party is unpopular, as during the 2008 election, both voters and politicians take a hand in reconfiguring the House and the Senate. Voters throw hard-line party members out of office while candidates who continue to run under the party banner distance themselves from party ideology. In this way, public approval directly affects policy shifts as well as turnovers at election time. Contrary to the common view of Congress as an insulated institution, Jones and McDermott argue that Congress is indeed responsive to the people of the United States.

 

David R. Jones is Professor of Political Science at Baruch College, City University of New York.

 

Monika L. McDermott is Associate Professor of Political Science at Fordham University.