The Loco-Foco Movement and Lessons for Today
Cato Podcast
Cato Institute
4.5 • 979 Ratings
🗓️ 10 March 2016
⏱️ 18 minutes
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| 0:00.0 | This is the Cato Daily Podcast for Thursday, March 10, 2016. |
| 0:05.0 | I'm Caleb Brown. |
| 0:06.0 | Radicals in 1830s New York took over the state's Democratic Party |
| 0:10.0 | and implemented their own declaration of principles, |
| 0:13.0 | rooted in the idea that government should respect the individual. |
| 0:17.0 | The Loco Focos, as they came to be known, |
| 0:20.0 | dramatically shifted the Democratic Party, |
| 0:22.0 | and for a time politics in the United States. |
| 0:25.0 | Anthony Comegna is assistant editor for intellectual history at Libertarianism.org. |
| 0:30.0 | We talked about the Loco Focos and their legacy today. |
| 0:34.0 | In the 1830s, a group known as the Loco Focos, |
| 0:38.0 | radical Democrats, took over the Democratic Party of New York. What were their grievances and you know why why |
| 0:48.8 | is it interesting to note to this this part of history. |
| 0:53.0 | So in the mid-1830s, Jackson's Bank War, the national level had, for all intents and purposes, been won. |
| 1:00.0 | But meaning that the National Bank was dead and its charter defunct. |
| 1:06.7 | He'd won the political battle on whether to re-charter the bank in the early part of the |
| 1:11.8 | decade and by the mid part of the bank in the early part of the decade and by the mid part of the decade more |
| 1:15.2 | radical Jeffersonian Democrats at the state and local level wanted to expand the |
| 1:20.0 | bank war to close the state banks as well, which of course had no connection to the |
| 1:27.0 | national government, but they were run by political coalitions at the state level and many Democrats were hesitant to give up their power |
| 1:36.2 | over these state banks. |
| 1:38.2 | So there was a division especially in the New York local party in the ranks of Tammany Hall |
... |
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