AR History Chapt. 9 Flashcards
A small group of wealthy men who owned large amounts of land, many slaves, and typically focused on the production of cotton
Planters
A state without slavery; where slavery was illegal
Free State
A guarantee of privilege granted by the power of a state or county
Charter
A very large farm devoted to production of one chief crop, such as cotton or sugar, associated with a slave labor force; a farm with at least a thousand acres and twenty slaves was considered this
Plantation
A small, wealthy, and powerful group of individuals
Elite
Storage or repair place for firearms or other weapons
Arsenal
Money available for investment, construction, or expansion of business
Capital
The provision of money, goods, or services with the expectation of future payment
Credit
An Arkansas state bank created in the 1830s primarily for the use of the planters and the wealthy
Real Estate Bank
An Arkansas bank created in the 1830s to serve primarily merchants and the ‘common’ man
State Bank
Interest-bearing certificates of public or private indebtedness; a method of borrowing money
Bonds
One who determines the value of land or other property
Assessor
An 1836 policy issued by President Jackson and implemented by president Van Buren that required payment for public lands be in gold and silver or ‘hard’ money, as opposed to paper money that was soft
Specie Circular
Hard currency, namely gold or silver, as opposed to paper money
Specie
A severe economic depression caused by falling cotton prices, failure of the wheat crop in the United States, and financial hardships in England
Panic of 1837