1 00:00:02,104 --> 00:00:03,270 - Every president since george washington 2 00:00:03,288 --> 00:00:05,196 Has had to define what we mean by the words, 3 00:00:05,215 --> 00:00:06,697 "we, the people" 4 00:00:06,792 --> 00:00:09,776 And "a more perfect union". 5 00:00:09,795 --> 00:00:12,629 In moments of harmony and conflict, 6 00:00:12,723 --> 00:00:15,206 Of growth and severe distress. 7 00:00:15,225 --> 00:00:18,060 In times of triumph and tragedy, 8 00:00:18,287 --> 00:00:21,621 Each of our presidents has had to make a choice 9 00:00:21,640 --> 00:00:23,690 To take us forward or backward. 10 00:00:24,717 --> 00:00:26,735 To unite us, or divide us. 11 00:00:28,480 --> 00:00:32,148 To greet the future with open arms or a clenched fist. 12 00:00:32,242 --> 00:00:33,408 The choices they made 13 00:00:33,560 --> 00:00:35,318 And how they acted on them 14 00:00:35,470 --> 00:00:36,894 Is the story 15 00:00:36,914 --> 00:00:39,063 Of "the american presidency". 16 00:00:39,083 --> 00:00:42,209 (pensive violin music) 17 00:00:47,666 --> 00:00:50,333 When I was running for president in 1992, 18 00:00:50,485 --> 00:00:53,762 One of my chief strategists, james carville, 19 00:00:53,989 --> 00:00:55,764 Hung a sign in our war room in little rock 20 00:00:55,991 --> 00:00:58,350 That said, "the economy, stupid". 21 00:00:59,752 --> 00:01:01,828 He did it to remind our campaign staff 22 00:01:01,921 --> 00:01:04,664 To stay focused on the economic issues 23 00:01:04,757 --> 00:01:07,776 That were so important for the voters. 24 00:01:08,003 --> 00:01:09,519 It was good advice, 25 00:01:09,613 --> 00:01:11,947 But it wasn't only true in 1992. 26 00:01:13,342 --> 00:01:16,009 It's been the case for generations. 27 00:01:16,102 --> 00:01:18,102 Of all the forces and trends at play 28 00:01:18,122 --> 00:01:20,680 In the nation at any given time, 29 00:01:20,773 --> 00:01:23,941 Fewer felt as widely or as personally 30 00:01:24,035 --> 00:01:26,277 As the state of the economy. 31 00:01:26,371 --> 00:01:29,189 Whether or not someone has a good job 32 00:01:29,282 --> 00:01:32,467 And feels like they have the opportunity to rise 33 00:01:32,619 --> 00:01:34,619 And give their kids a better life, 34 00:01:34,713 --> 00:01:36,880 Plays a big part in how they view 35 00:01:36,974 --> 00:01:38,390 The direction of our country. 36 00:01:39,868 --> 00:01:41,868 And while many factors that influence the economy 37 00:01:41,961 --> 00:01:43,562 Are beyond the president's control, 38 00:01:44,873 --> 00:01:46,481 Not all of them are. 39 00:01:46,708 --> 00:01:48,150 There's plenty the president can do 40 00:01:48,301 --> 00:01:50,819 To spur the economy on, shore it up, 41 00:01:51,046 --> 00:01:52,729 Create guard rails, 42 00:01:52,823 --> 00:01:56,383 Make sure its opportunities are more fairly shared 43 00:01:56,401 --> 00:01:58,994 And to plant seeds for future growth. 44 00:01:59,221 --> 00:02:02,055 That's part of what thomas jefferson had in mind 45 00:02:02,148 --> 00:02:05,241 When he made one of the most audacious purchases 46 00:02:05,394 --> 00:02:07,318 In our nation's history 47 00:02:07,337 --> 00:02:10,338 And one that would change america forever. 48 00:02:12,009 --> 00:02:14,593 (intense music) 49 00:02:18,665 --> 00:02:20,849 (rhythmic music) 50 00:02:21,076 --> 00:02:22,909 - Thomas jefferson, 51 00:02:23,002 --> 00:02:27,606 First and foremost was a naturalist and explorer 52 00:02:29,251 --> 00:02:32,343 And somebody who's thought in terms of an empire. 53 00:02:32,437 --> 00:02:35,088 He was the visionary who saw 54 00:02:35,106 --> 00:02:37,090 From atlantic to pacific. 55 00:02:37,183 --> 00:02:40,944 And he started finding ways to implement that. 56 00:02:41,038 --> 00:02:43,705 - The united states, in 1803, 57 00:02:43,856 --> 00:02:47,767 Is comprised mostly of a thin sliver of population 58 00:02:47,860 --> 00:02:49,694 Right along the eastern seaboard. 59 00:02:49,713 --> 00:02:52,839 And they're moving out to the west, slowly. 60 00:02:54,218 --> 00:02:57,385 Less than 10% of the country lives in a city. 61 00:02:57,612 --> 00:03:00,722 And the majority of people are farmers. 62 00:03:00,873 --> 00:03:03,225 It's overwhelmingly rural. 63 00:03:03,452 --> 00:03:07,136 And the western part of the united states 64 00:03:07,231 --> 00:03:09,138 Out in the territories 65 00:03:09,291 --> 00:03:13,568 Is entirely dependent on the mississippi river. 66 00:03:14,738 --> 00:03:15,962 - And at the bottom of the river 67 00:03:16,055 --> 00:03:18,073 Was the great port city of new orleans 68 00:03:19,576 --> 00:03:20,967 And jefferson wanted it. 69 00:03:20,986 --> 00:03:23,578 (intense music) 70 00:03:25,824 --> 00:03:27,974 (pensive music) 71 00:03:28,067 --> 00:03:31,569 - But the french controlled the port 72 00:03:31,588 --> 00:03:34,481 And there are rampant rumors, 73 00:03:34,574 --> 00:03:36,649 They're going to shut down the access 74 00:03:36,743 --> 00:03:39,094 Of the mississippi river for americans 75 00:03:39,245 --> 00:03:42,079 And presumably start charging them high tariffs 76 00:03:42,099 --> 00:03:45,675 And pinching them in, squeezing them like an anaconda. 77 00:03:45,827 --> 00:03:49,271 - Jefferson was obsessed with the future of the country, 78 00:03:50,849 --> 00:03:53,349 Thinking that the country would not be safe 79 00:03:53,502 --> 00:03:58,095 As long as there was territory that european powers were on. 80 00:03:58,115 --> 00:04:00,949 There would always be potential trouble for americans. 81 00:04:01,100 --> 00:04:02,933 - It's the biggest issue of the day. 82 00:04:03,028 --> 00:04:04,177 If they're not gonna let us 83 00:04:04,270 --> 00:04:05,845 Send our stuff through that port, 84 00:04:05,864 --> 00:04:08,456 That's going to devastate our livelihood. 85 00:04:08,683 --> 00:04:12,276 And so everyone is absolutely up in arms. 86 00:04:12,296 --> 00:04:14,445 And now, tensions start to rise. 87 00:04:14,539 --> 00:04:16,280 (curious music) 88 00:04:16,300 --> 00:04:19,134 Thomas jefferson doesn't want to go to war with France. 89 00:04:19,361 --> 00:04:20,451 He's a francophile. 90 00:04:20,470 --> 00:04:21,970 He was the ambassador to France. 91 00:04:22,197 --> 00:04:23,805 He likes the french. 92 00:04:24,032 --> 00:04:28,051 So jefferson, trying not to go to war, has an idea. 93 00:04:28,203 --> 00:04:30,887 He's going to send his friend, james monroe, 94 00:04:30,981 --> 00:04:33,389 The guy who will be president, eventually. 95 00:04:33,542 --> 00:04:34,632 And he says, 96 00:04:34,726 --> 00:04:36,709 "I want you to go to France 97 00:04:36,728 --> 00:04:39,896 "and I'm going to authorize you $10 million 98 00:04:39,990 --> 00:04:42,565 "to buy the port of new orleans. 99 00:04:42,717 --> 00:04:45,234 "you go over there and you see if they'll sell it to us". 100 00:04:45,329 --> 00:04:48,830 (pensive music) 101 00:04:48,981 --> 00:04:52,667 - Now, napoleon, having been defeated in haiti 102 00:04:52,894 --> 00:04:55,895 Wants to get rid of his new world holdings. 103 00:04:55,914 --> 00:04:57,822 He wants to focus on europe. 104 00:04:57,841 --> 00:05:00,583 - He needed money to fund his perpetual war 105 00:05:00,735 --> 00:05:02,251 With great britain. 106 00:05:02,346 --> 00:05:04,754 And this was a way for him to get money, to do that. 107 00:05:04,906 --> 00:05:08,074 (suspenseful music) 108 00:05:08,093 --> 00:05:09,759 - [austan] napoleon decides 109 00:05:09,853 --> 00:05:12,579 To get as much money as he can 110 00:05:12,597 --> 00:05:15,264 And just sell the whole thing to the united states. 111 00:05:15,359 --> 00:05:16,691 So monroe shows up 112 00:05:18,253 --> 00:05:21,104 And lo and behold to his utter surprise, 113 00:05:21,256 --> 00:05:24,532 Napoleon was willing to sell the whole kit and caboodle, 114 00:05:24,759 --> 00:05:27,944 Not just new orleans, but the entire louisiana territory 115 00:05:28,096 --> 00:05:31,373 For a cheap price of $15 million. 116 00:05:33,268 --> 00:05:35,192 - Napoleon's brothers are shocked 117 00:05:35,212 --> 00:05:37,194 And they get into an argument. 118 00:05:37,288 --> 00:05:38,696 "how could you do this? 119 00:05:38,715 --> 00:05:40,607 "this doesn't make any sense." 120 00:05:40,625 --> 00:05:42,609 His brothers must have thought of this 121 00:05:42,627 --> 00:05:45,703 As sort of a twilight of their empire. 122 00:05:45,797 --> 00:05:48,038 And he is, of course, napoleon. 123 00:05:48,133 --> 00:05:49,391 And this is his choice to make. 124 00:05:50,802 --> 00:05:51,559 (curious music) 125 00:05:51,711 --> 00:05:53,136 - Napoleon says, 126 00:05:53,288 --> 00:05:54,729 "you give us 15 million 127 00:05:54,956 --> 00:05:57,790 "and we'll give you the entire parcel", 128 00:05:57,809 --> 00:05:59,792 Doubling the united states. 129 00:05:59,886 --> 00:06:03,479 Okay, the entire land mass of the united states 130 00:06:03,632 --> 00:06:04,406 At that time 131 00:06:05,483 --> 00:06:07,800 Is basically equal in area 132 00:06:07,894 --> 00:06:09,411 To what's in the louisiana purchase. 133 00:06:10,897 --> 00:06:13,731 But it's touchy because thomas jefferson 134 00:06:13,825 --> 00:06:16,159 Has run for president on a platform. 135 00:06:16,311 --> 00:06:19,921 The federal government should not do one iota of a thing 136 00:06:20,072 --> 00:06:22,165 Beyond what is specifically written down 137 00:06:22,317 --> 00:06:23,666 In the constitution. 138 00:06:23,760 --> 00:06:25,409 There's nothing in there 139 00:06:25,429 --> 00:06:28,763 About take $10 million and go buy the port of new orleans. 140 00:06:30,158 --> 00:06:32,600 - Mr. Small government, thomas jefferson, 141 00:06:32,827 --> 00:06:35,995 Was undertaking the doubling of the country, 142 00:06:36,014 --> 00:06:37,680 Shifting the destiny of the country, 143 00:06:37,832 --> 00:06:39,499 Changing it forever. 144 00:06:39,592 --> 00:06:42,351 So if you're looking for irony in american life, 145 00:06:42,504 --> 00:06:44,187 You don't have to look very hard. 146 00:06:44,281 --> 00:06:47,073 (reflective music) 147 00:06:48,434 --> 00:06:51,360 - But it ends up being totally worth it. 148 00:06:51,455 --> 00:06:54,122 In today's dollars, that'd be $348 million 149 00:06:55,850 --> 00:06:59,944 For a thing that's now worth about $1.7 trillion. 150 00:06:59,963 --> 00:07:02,297 And just to put some context, 151 00:07:02,524 --> 00:07:05,550 The harris casino that is in new orleans, 152 00:07:07,212 --> 00:07:11,531 They paid $350 million just to renovate the casino. 153 00:07:11,549 --> 00:07:14,309 So they bought the entirety 154 00:07:14,460 --> 00:07:17,795 Of what are all or part of 15 different states 155 00:07:17,814 --> 00:07:18,980 Of the united states. 156 00:07:20,650 --> 00:07:23,651 - There is no united states as we envision it today, 157 00:07:23,878 --> 00:07:26,395 Without mr. Jefferson's incredible purchase. 158 00:07:26,490 --> 00:07:29,157 (midtempo music) 159 00:07:32,220 --> 00:07:36,146 - Basically, what jefferson bought was the middle part, 160 00:07:36,241 --> 00:07:40,084 What we call the heartland of the united states of america. 161 00:07:42,564 --> 00:07:43,487 And then of course, 162 00:07:43,581 --> 00:07:45,673 Jefferson sends lewis and clark 163 00:07:45,900 --> 00:07:47,250 Out on an expedition 164 00:07:47,344 --> 00:07:49,802 To see what's out there. 165 00:07:51,573 --> 00:07:53,923 - It's a tremendous bounty for the united states, 166 00:07:54,075 --> 00:07:56,333 The oil, the timber, 167 00:07:56,427 --> 00:07:59,078 The farm land that proves to be 168 00:07:59,171 --> 00:08:01,264 Perhaps the most productive farm land 169 00:08:01,416 --> 00:08:03,249 Anywhere on the planet. 170 00:08:03,342 --> 00:08:07,344 Plus the resources, the wildlife, everything, 171 00:08:07,364 --> 00:08:11,774 All of that moves us from tangential player 172 00:08:11,926 --> 00:08:13,535 In the world economy 173 00:08:13,686 --> 00:08:17,372 To something that even the historic powers of europe 174 00:08:17,523 --> 00:08:19,615 Are looking over going, "whoa, wait a second. 175 00:08:19,709 --> 00:08:21,376 "what just happened?" 176 00:08:21,603 --> 00:08:24,695 (water gushing) (curious music) 177 00:08:24,789 --> 00:08:27,364 But it also comes 178 00:08:27,384 --> 00:08:30,552 With a kind of a curse, on the other side. 179 00:08:30,703 --> 00:08:33,179 (somber music) 180 00:08:36,785 --> 00:08:39,619 - There are two original sins in american life, 181 00:08:39,712 --> 00:08:42,546 The removal of native american people 182 00:08:42,566 --> 00:08:44,524 And african-american slavery. 183 00:08:46,294 --> 00:08:49,128 The louisiana purchase was a critical part of that. 184 00:08:49,221 --> 00:08:51,798 It expanded the agricultural markets, 185 00:08:51,816 --> 00:08:53,132 Which expanded the demand 186 00:08:53,151 --> 00:08:55,660 And the plausibility of slave labor. 187 00:08:57,063 --> 00:09:00,139 It helped lead to this division of the country 188 00:09:00,158 --> 00:09:02,975 Into north and south and slave and free, 189 00:09:02,994 --> 00:09:05,645 Which created what william seward called 190 00:09:05,663 --> 00:09:07,422 The irrepressible conflict. 191 00:09:07,573 --> 00:09:09,498 (somber music) 192 00:09:09,651 --> 00:09:11,092 - It was an amazing deal. 193 00:09:12,837 --> 00:09:14,153 But in the end, 194 00:09:14,246 --> 00:09:16,823 The price of the louisiana purchase 195 00:09:16,841 --> 00:09:19,684 Is not paid in dollars to the french. 196 00:09:21,087 --> 00:09:23,346 It's paid in blood in the civil war. 197 00:09:23,440 --> 00:09:26,024 (somber music) 198 00:09:30,688 --> 00:09:33,764 - [bill] the louisiana purchase spurs westward expansion, 199 00:09:33,783 --> 00:09:35,933 But the nation's rudimentary banks 200 00:09:35,952 --> 00:09:38,678 Aren't equipped to handle such rapid growth. 201 00:09:38,696 --> 00:09:40,604 (intense music) 202 00:09:40,624 --> 00:09:43,124 There is no central banking authority. 203 00:09:43,275 --> 00:09:45,868 Each state prints its own currency, 204 00:09:45,962 --> 00:09:48,296 Leaving most americans skeptical of anything 205 00:09:48,447 --> 00:09:49,797 That isn't gold or silver. 206 00:09:51,134 --> 00:09:53,192 When a us central bank is established 207 00:09:53,211 --> 00:09:56,696 To print a national currency and to pay off our debts, 208 00:09:56,789 --> 00:09:58,806 It's met with deep suspicion. 209 00:10:00,477 --> 00:10:03,293 One of the loudest voices railing against it 210 00:10:03,313 --> 00:10:04,812 Comes from a presidential candidate 211 00:10:05,039 --> 00:10:06,814 Who's running against the establishment. 212 00:10:07,892 --> 00:10:09,466 War hero, andrew jackson, 213 00:10:09,486 --> 00:10:11,611 Will end up winning an economic fight, 214 00:10:12,714 --> 00:10:15,139 But losing the economic war. 215 00:10:15,158 --> 00:10:16,807 (intense music) 216 00:10:16,826 --> 00:10:19,994 (pensive music) 217 00:10:27,671 --> 00:10:30,487 - From the moment andrew jackson led american forces 218 00:10:30,507 --> 00:10:32,231 To victory in the battle of new orleans, 219 00:10:32,250 --> 00:10:36,844 He was marked as a leader that americans could admire. 220 00:10:36,996 --> 00:10:39,255 But jackson was a polarizing figure. 221 00:10:39,407 --> 00:10:41,073 He was kind of a lightning rod. 222 00:10:41,092 --> 00:10:43,017 (pensive music) 223 00:10:43,169 --> 00:10:46,762 - Andrew jackson represents the worst of america, 224 00:10:46,915 --> 00:10:48,981 But he also hints at the best of america. 225 00:10:50,585 --> 00:10:53,361 He was the first great populous president. 226 00:10:53,512 --> 00:10:55,604 He was the first president 227 00:10:55,699 --> 00:10:59,759 Who came from the lowest rungs of white society. 228 00:10:59,777 --> 00:11:01,110 And in many ways, 229 00:11:01,262 --> 00:11:05,206 Jackson embodied this capacity of white people 230 00:11:05,433 --> 00:11:07,709 To rise to the top of american life. 231 00:11:10,104 --> 00:11:12,046 He also represented the worst of us. 232 00:11:13,699 --> 00:11:15,883 The removal of native americans, 233 00:11:16,110 --> 00:11:18,778 The defense of african-american slavery 234 00:11:18,871 --> 00:11:22,706 And he was driven by a belief 235 00:11:22,726 --> 00:11:27,803 That power was not equally distributed. 236 00:11:28,231 --> 00:11:30,064 - Andrew jackson was the first western president, 237 00:11:30,216 --> 00:11:31,548 The first president to be elected 238 00:11:31,568 --> 00:11:34,794 From west of the appalachian allegheny chain. 239 00:11:34,812 --> 00:11:39,223 And not surprisingly, jackson has western interests in mind. 240 00:11:39,242 --> 00:11:40,983 (pensive music) 241 00:11:41,135 --> 00:11:43,560 - White americans were pushing west 242 00:11:43,580 --> 00:11:47,248 And there is a proliferation of state banks 243 00:11:47,399 --> 00:11:51,644 To create the credits that these individuals would use 244 00:11:51,662 --> 00:11:53,087 To buy land. 245 00:11:54,482 --> 00:11:58,075 - But jackson is against banking 246 00:11:58,094 --> 00:12:00,428 Because he was burned as a young man. 247 00:12:01,431 --> 00:12:04,932 He had been a speculator in land 248 00:12:05,084 --> 00:12:08,677 And he had been paid in bank notes 249 00:12:08,772 --> 00:12:12,515 That were not as valuable as he thought they were. 250 00:12:12,609 --> 00:12:16,002 Eventually, he had to make the debts right. 251 00:12:16,095 --> 00:12:18,337 And so he resented the idea 252 00:12:18,430 --> 00:12:20,264 That he was taken by a bank. 253 00:12:20,358 --> 00:12:21,949 (reflective music) 254 00:12:22,176 --> 00:12:24,285 - Private banks provided the money 255 00:12:24,512 --> 00:12:27,847 That most people used during the jacksonian era, 256 00:12:27,865 --> 00:12:30,107 But there was one big exception to this. 257 00:12:30,126 --> 00:12:33,202 This was a bank called the bank of the united states 258 00:12:33,354 --> 00:12:35,871 And it was the only federally chartered bank. 259 00:12:35,965 --> 00:12:38,024 It imposed some order 260 00:12:38,042 --> 00:12:40,192 On the money system of the united states 261 00:12:40,211 --> 00:12:43,930 And also helped the growth of the economy as a whole. 262 00:12:45,533 --> 00:12:47,624 But jackson wanted none of it. 263 00:12:47,644 --> 00:12:51,145 He wanted a banking system of state banks 264 00:12:51,297 --> 00:12:53,815 Instead of a central bank. 265 00:12:53,966 --> 00:12:58,044 - Jackson saw the bank of the united states as a monopoly 266 00:12:58,137 --> 00:13:00,880 And a corrupt monopoly, as well. 267 00:13:00,898 --> 00:13:02,472 - He was on record as saying 268 00:13:02,567 --> 00:13:06,143 That the bank of the united states was unconstitutional. 269 00:13:06,237 --> 00:13:07,720 This is an institution. 270 00:13:07,738 --> 00:13:10,556 This should not have that much power or money. 271 00:13:10,649 --> 00:13:11,891 This is all the more reason 272 00:13:11,984 --> 00:13:13,668 To kill the bank of the united states. 273 00:13:13,819 --> 00:13:16,820 But andrew jackson knew nothing about economics, really. 274 00:13:16,914 --> 00:13:19,674 It was sort of a matter of political principle for jackson. 275 00:13:19,825 --> 00:13:23,569 - Jackson also had another particularly thorny problem 276 00:13:23,588 --> 00:13:26,238 With the bank and that was in its leadership. 277 00:13:26,257 --> 00:13:27,998 (curious music) 278 00:13:28,017 --> 00:13:30,334 - If ever there was a perfect moment 279 00:13:30,353 --> 00:13:32,745 Of central casting of adversaries, 280 00:13:32,838 --> 00:13:34,671 Nicholas biddle, the governor 281 00:13:34,691 --> 00:13:36,840 Of the second bank of the united states 282 00:13:36,934 --> 00:13:38,508 Against andrew jackson, 283 00:13:38,603 --> 00:13:41,937 The self-defined son of the frontier was perfect theater 284 00:13:42,090 --> 00:13:44,607 And perfect drama even at the time. 285 00:13:44,759 --> 00:13:46,442 - Nicholas biddle was descended 286 00:13:46,594 --> 00:13:49,853 From a very prominent philadelphia family, 287 00:13:49,873 --> 00:13:51,372 Born into wealth, 288 00:13:51,523 --> 00:13:52,707 Well-educated, 289 00:13:52,858 --> 00:13:54,600 Well-traveled. 290 00:13:54,619 --> 00:13:57,694 - He perceived himself as a guardian of the system 291 00:13:57,788 --> 00:13:59,288 Against the masses, 292 00:13:59,382 --> 00:14:04,051 Against the kind of animal spirits of jacksonian american. 293 00:14:05,113 --> 00:14:06,387 - So here you have two men, 294 00:14:06,614 --> 00:14:09,206 Nicholas biddle and andrew jackson, 295 00:14:09,225 --> 00:14:12,801 Who are vindictive, arrogant, who think they're right, 296 00:14:12,954 --> 00:14:15,287 And who think that they can have their way 297 00:14:15,306 --> 00:14:17,289 No matter what the situation looks like. 298 00:14:17,383 --> 00:14:18,974 And the two men are clashing. 299 00:14:19,068 --> 00:14:20,309 (dramatic music) 300 00:14:20,461 --> 00:14:23,145 - So prior to the election of 1832, 301 00:14:23,297 --> 00:14:25,297 Jackson takes it upon himself 302 00:14:25,316 --> 00:14:27,408 As one of his primary goals 303 00:14:27,559 --> 00:14:30,394 To end the life of the second bank of the united states, 304 00:14:30,413 --> 00:14:33,656 Whose charter will expire in 1836. 305 00:14:33,808 --> 00:14:35,157 So he can't end it before then, 306 00:14:35,309 --> 00:14:37,734 But he can prevent it from being re-upped 307 00:14:37,828 --> 00:14:40,329 For another 20 year term. 308 00:14:40,423 --> 00:14:44,483 - And in 1832, this becomes known as the bank war. 309 00:14:44,502 --> 00:14:47,836 - Now biddle realizes that the bank is in jeopardy. 310 00:14:47,989 --> 00:14:49,672 And so he decides that he's going 311 00:14:49,766 --> 00:14:54,493 To try to recharter the bank four years early. 312 00:14:54,586 --> 00:14:56,771 - This of course, enraged jackson, 313 00:14:56,998 --> 00:15:00,441 Who saw this as a personal affront to him 314 00:15:00,592 --> 00:15:02,092 And to his ambition 315 00:15:02,186 --> 00:15:04,946 To serve a second term. 316 00:15:05,097 --> 00:15:08,432 And once jackson personalizes this, 317 00:15:08,451 --> 00:15:11,935 We enter the second phase of the bank war, 318 00:15:11,955 --> 00:15:14,789 Where we go from appeasement and negotiation 319 00:15:14,940 --> 00:15:16,849 To a fight to the death. 320 00:15:16,942 --> 00:15:19,776 Jackson tells his future vice president, 321 00:15:19,870 --> 00:15:22,964 "sir, the bank of the united states is trying to kill me, 322 00:15:23,115 --> 00:15:25,132 "but I will kill it." 323 00:15:25,284 --> 00:15:26,859 And he makes good on that promise. 324 00:15:26,877 --> 00:15:28,210 (intense music) 325 00:15:28,362 --> 00:15:30,546 - Jackson kills the bank of the united states. 326 00:15:30,640 --> 00:15:32,214 He vetoed it. 327 00:15:32,308 --> 00:15:35,701 And he rode that veto to victory in the 1832 election. 328 00:15:35,720 --> 00:15:38,962 So the people had spoken. 329 00:15:38,982 --> 00:15:41,040 And in the contest between nicholas biddle 330 00:15:41,133 --> 00:15:42,466 And andrew jackson, they said, 331 00:15:42,485 --> 00:15:44,652 "we like jackson". 332 00:15:44,803 --> 00:15:46,153 But wait a minute. 333 00:15:46,305 --> 00:15:48,214 Biddle was convinced 334 00:15:48,232 --> 00:15:50,658 That he knew better than andrew jackson did 335 00:15:50,809 --> 00:15:53,068 What the american economy required. 336 00:15:53,162 --> 00:15:55,237 And in response, 337 00:15:55,331 --> 00:15:59,983 What biddle did was to engineer a financial panic. 338 00:16:00,077 --> 00:16:03,320 The bank was so powerful that it could call in its loans 339 00:16:03,414 --> 00:16:04,654 And all of a sudden, 340 00:16:04,674 --> 00:16:06,173 People couldn't pay back their creditors. 341 00:16:06,325 --> 00:16:08,325 (suspenseful music) 342 00:16:08,344 --> 00:16:11,995 - It played right into jackson's hands. 343 00:16:12,015 --> 00:16:13,422 And by doing this, 344 00:16:13,574 --> 00:16:16,350 Biddle made the bank into the very monster 345 00:16:16,577 --> 00:16:19,428 That jackson had always claimed it was. 346 00:16:19,580 --> 00:16:21,764 - So as a result of the death 347 00:16:21,916 --> 00:16:23,415 Of the bank of the united states, 348 00:16:23,509 --> 00:16:25,842 For the next almost 80 years, 349 00:16:25,936 --> 00:16:29,864 There is no central banking authority in the united states. 350 00:16:30,015 --> 00:16:31,681 And every 20 years, 351 00:16:31,701 --> 00:16:34,851 You have some sort of financial crisis. 352 00:16:34,945 --> 00:16:36,929 And year by year by year, 353 00:16:37,022 --> 00:16:38,355 There was a growing consensus 354 00:16:38,449 --> 00:16:39,765 That there needed to be 355 00:16:39,784 --> 00:16:41,617 Some sort of central governing authority. 356 00:16:41,711 --> 00:16:43,026 And that's what leads 357 00:16:43,046 --> 00:16:45,195 To the creation of the federal reserve. 358 00:16:45,214 --> 00:16:48,549 - So when jackson killed the bank of the united states, 359 00:16:48,776 --> 00:16:51,535 It was a triumph for american democracy, 360 00:16:51,629 --> 00:16:54,704 Turned out to be a disaster for the american economy though. 361 00:16:54,724 --> 00:16:57,800 Because biddle actually did know more about economics 362 00:16:57,894 --> 00:16:59,785 And what the economy required than jackson did. 363 00:16:59,878 --> 00:17:01,378 So this is one of those cases 364 00:17:01,397 --> 00:17:03,122 And it's by no means the last case, 365 00:17:03,215 --> 00:17:05,566 Where what democracy produces 366 00:17:05,793 --> 00:17:07,735 Is not the best result for the economy. 367 00:17:11,966 --> 00:17:12,889 - As continental expansion took off 368 00:17:12,983 --> 00:17:14,300 With more and more settlers 369 00:17:14,393 --> 00:17:17,152 Making the long, difficult trek west, 370 00:17:17,246 --> 00:17:18,654 The need for a faster, 371 00:17:18,748 --> 00:17:21,207 Safer mode of transportation was obvious. 372 00:17:22,493 --> 00:17:24,977 The locomotive appeared to be the answer. 373 00:17:25,070 --> 00:17:26,979 But as abraham lincoln entered office, 374 00:17:26,997 --> 00:17:30,591 There was still no track connecting east coast to west. 375 00:17:31,986 --> 00:17:34,744 With the civil war consuming the nation, 376 00:17:34,839 --> 00:17:37,264 President lincoln still managed 377 00:17:37,491 --> 00:17:40,750 To envision a transcontinental railroad, 378 00:17:40,770 --> 00:17:42,678 One that would lay the economic groundwork 379 00:17:42,772 --> 00:17:45,106 For a post-war future, 380 00:17:45,257 --> 00:17:48,234 Though at the time, that future was far from certain. 381 00:17:49,946 --> 00:17:52,780 (dramatic music) 382 00:18:00,272 --> 00:18:01,847 (canon bangs) 383 00:18:01,866 --> 00:18:05,775 - In 1862, while north is fighting south, 384 00:18:05,795 --> 00:18:08,687 Abraham lincoln envisions the east 385 00:18:08,706 --> 00:18:10,780 Being connected to the west. 386 00:18:10,800 --> 00:18:13,025 Having that very clear vision 387 00:18:13,118 --> 00:18:14,860 And then getting the ball rolling on it 388 00:18:14,953 --> 00:18:17,029 In the middle of the civil war 389 00:18:17,122 --> 00:18:18,955 Tells you how much faith lincoln had 390 00:18:18,975 --> 00:18:20,624 In the future of our country. 391 00:18:20,718 --> 00:18:21,700 (pensive music) 392 00:18:21,793 --> 00:18:23,793 - Lincoln never lost sight 393 00:18:23,888 --> 00:18:25,795 Of the need for the country 394 00:18:25,890 --> 00:18:30,225 To be connected physically, as well as politically. 395 00:18:30,319 --> 00:18:33,212 His vision is a place 396 00:18:33,230 --> 00:18:35,564 Where there's freedom for everyone, 397 00:18:35,658 --> 00:18:37,549 But it's also a vision 398 00:18:37,568 --> 00:18:41,162 Of a nation that's growing, economically. 399 00:18:42,498 --> 00:18:46,058 - Abraham lincoln was setting up a future 400 00:18:46,151 --> 00:18:49,152 For the country he was trying to save. 401 00:18:49,172 --> 00:18:50,796 And great presidents do that. 402 00:18:52,324 --> 00:18:54,583 - Abraham lincoln, himself, came of age 403 00:18:54,677 --> 00:18:57,327 And grew up with the railroads 404 00:18:57,421 --> 00:18:59,996 And he becomes a railroad lawyer, 405 00:19:00,090 --> 00:19:02,424 One of the top railroad lawyers 406 00:19:02,518 --> 00:19:04,743 In the entire state of illinois. 407 00:19:04,762 --> 00:19:06,336 (train wheels whirring) 408 00:19:06,355 --> 00:19:09,765 - Lincoln was very much in favor 409 00:19:09,859 --> 00:19:14,010 Of ensuring that there was a transcontinental railroad 410 00:19:14,030 --> 00:19:16,513 And before he becomes president, 411 00:19:16,532 --> 00:19:18,699 A major factor was 412 00:19:18,850 --> 00:19:22,203 Certainly, his visit to council bluffs, iowa. 413 00:19:22,354 --> 00:19:24,613 (dramatic music) 414 00:19:24,707 --> 00:19:27,190 - Abraham lincoln is in iowa. 415 00:19:27,284 --> 00:19:30,285 He's asking about the railroad. 416 00:19:30,379 --> 00:19:31,545 And somebody says, 417 00:19:31,697 --> 00:19:33,380 "you should talk to grenville dodge, 418 00:19:33,607 --> 00:19:36,050 "the engineer who knows a lot about railroads". 419 00:19:37,220 --> 00:19:38,794 And lincoln asked him, 420 00:19:38,888 --> 00:19:41,055 "if there were gonna be a transcontinental railroad, 421 00:19:41,282 --> 00:19:42,038 "where would it go? 422 00:19:42,132 --> 00:19:43,966 "what would be the best route?" 423 00:19:44,060 --> 00:19:45,968 Grenville dodge says, "it'd go right here. 424 00:19:46,062 --> 00:19:47,210 "council bluffs, iowa. 425 00:19:47,230 --> 00:19:49,045 "you'd want it to go right here. 426 00:19:49,139 --> 00:19:49,972 "nice and flat. 427 00:19:50,124 --> 00:19:51,715 "this is a great spot." 428 00:19:51,809 --> 00:19:54,735 And that meeting plants an idea 429 00:19:54,886 --> 00:19:56,628 In lincoln's head. 430 00:19:56,647 --> 00:19:58,555 (pensive music) 431 00:19:58,574 --> 00:20:00,241 In many ways, 432 00:20:00,392 --> 00:20:04,078 Lincoln is the champion of a transcontinental railroad, 433 00:20:04,305 --> 00:20:07,897 But it's the widespread dream of america. 434 00:20:07,917 --> 00:20:09,324 And it's been explored many times. 435 00:20:09,418 --> 00:20:10,918 (reflective music) 436 00:20:11,145 --> 00:20:14,813 But it's always bogged down in congress 437 00:20:14,832 --> 00:20:17,149 For the simple reason that nobody can agree 438 00:20:17,167 --> 00:20:18,834 Where the tracks should go. 439 00:20:18,928 --> 00:20:20,652 - A lot of the divisions 440 00:20:20,746 --> 00:20:22,912 Before the war over the railroad 441 00:20:23,007 --> 00:20:25,749 Had to do with whether or not the route 442 00:20:25,843 --> 00:20:29,011 Was going to be a northern route or a southern route. 443 00:20:29,105 --> 00:20:30,104 - Everyone's arguing. 444 00:20:30,331 --> 00:20:31,605 So they can't agree. 445 00:20:31,832 --> 00:20:34,500 So there is no transcontinental railroad. 446 00:20:34,518 --> 00:20:36,760 The reason it happens in the civil war 447 00:20:36,779 --> 00:20:39,947 Is precisely because the south has succeeded. 448 00:20:40,098 --> 00:20:41,340 (dramatic music) 449 00:20:41,358 --> 00:20:43,842 - And this is where lincoln comes in. 450 00:20:43,861 --> 00:20:46,269 Lincoln understood, when the country is at war, 451 00:20:46,363 --> 00:20:47,679 Congress is willing to give you 452 00:20:47,773 --> 00:20:49,197 Pretty much whatever you want. 453 00:20:49,292 --> 00:20:51,366 So figure out a way to connect it to the war effort 454 00:20:51,460 --> 00:20:52,776 And you're gonna get it. 455 00:20:52,795 --> 00:20:54,703 And so lincoln told congress, 456 00:20:54,855 --> 00:20:57,689 "this railroad is necessary to keep california in the union, 457 00:20:57,783 --> 00:20:58,948 "and help us win the war." 458 00:20:58,968 --> 00:21:01,302 Then opposition just disappears. 459 00:21:02,546 --> 00:21:03,862 And this is what ultimately leads 460 00:21:03,955 --> 00:21:06,365 To the pacific railway act of 1862. 461 00:21:06,383 --> 00:21:10,385 (upbeat music) (train horn whistling) 462 00:21:10,479 --> 00:21:12,646 (rhythmic music) 463 00:21:12,873 --> 00:21:16,466 They authorize up to $48,000 a mile 464 00:21:16,560 --> 00:21:18,485 Of laying the track. 465 00:21:18,712 --> 00:21:21,380 They have two big railroad companies, 466 00:21:21,473 --> 00:21:23,991 The central pacific, the union pacific, 467 00:21:24,218 --> 00:21:26,735 That they're gonna start building one from the east 468 00:21:26,829 --> 00:21:27,811 And one from the west. 469 00:21:27,830 --> 00:21:31,481 (rhythmic music) 470 00:21:31,575 --> 00:21:34,001 They finally meet in utah 471 00:21:34,228 --> 00:21:36,670 And that's it, the thing is done. 472 00:21:36,822 --> 00:21:39,506 (dramatic music) 473 00:21:40,584 --> 00:21:43,159 (curious music) 474 00:21:43,253 --> 00:21:45,679 1,776 miles, not a coincidence. 475 00:21:47,241 --> 00:21:49,516 They wanted it to be 1,776 miles. 476 00:21:49,668 --> 00:21:53,428 - The railroad turns us truly into a continental nation 477 00:21:53,522 --> 00:21:58,025 And in an era where we worry about infrastructure, 478 00:21:58,176 --> 00:22:00,510 It's important to remember 479 00:22:00,529 --> 00:22:04,106 That our wealth was in many ways generated 480 00:22:04,200 --> 00:22:06,775 By the capacity to communicate 481 00:22:06,927 --> 00:22:09,536 And link this vast country. 482 00:22:09,763 --> 00:22:13,615 - And the united states economy went from being, in 1800, 483 00:22:13,767 --> 00:22:17,193 Nothing, in world economic considerations 484 00:22:17,213 --> 00:22:18,879 To being, by 1900, 485 00:22:19,106 --> 00:22:23,108 The biggest, most powerful richest economy in the world. 486 00:22:23,127 --> 00:22:26,128 - And we immediately go from 487 00:22:26,222 --> 00:22:27,796 The trip to california 488 00:22:27,890 --> 00:22:31,541 Being a two month dangerous trek across land 489 00:22:31,635 --> 00:22:35,637 Or a six month outrageous boat trip around the country 490 00:22:35,731 --> 00:22:38,457 To, you can get to california in five days on the train 491 00:22:38,550 --> 00:22:40,401 In a sleeper car, with a mattress. 492 00:22:40,552 --> 00:22:43,720 (dramatic music) 493 00:22:43,814 --> 00:22:46,240 (pensive music) 494 00:22:48,802 --> 00:22:50,969 - Of course, the railroad doesn't get built 495 00:22:51,062 --> 00:22:53,747 Completely until after lincoln has gone, 496 00:22:54,900 --> 00:22:56,417 But he is leading the way. 497 00:22:59,422 --> 00:23:02,089 - After lincoln's assassination, 498 00:23:02,316 --> 00:23:05,217 His funeral procession takes place on a train 499 00:23:07,004 --> 00:23:11,098 And it drives across the country for him to be buried. 500 00:23:11,249 --> 00:23:13,249 (reflective music) 501 00:23:13,343 --> 00:23:17,754 And lincoln, the champion of a transcontinental railroad, 502 00:23:17,848 --> 00:23:20,165 Did stitch together the economy 503 00:23:20,258 --> 00:23:23,852 And the nation to be one entity. 504 00:23:23,946 --> 00:23:27,172 - Now, we really did have the sea to shining sea 505 00:23:27,191 --> 00:23:29,691 That thomas jefferson had envisioned 506 00:23:29,843 --> 00:23:31,952 With the louisiana purchase. 507 00:23:32,103 --> 00:23:34,455 (reflective music) 508 00:23:39,186 --> 00:23:41,019 - [bill] by 1869, abraham lincoln's dream 509 00:23:41,038 --> 00:23:43,205 Of uniting the country through the transcontinental railroad 510 00:23:43,299 --> 00:23:45,023 Becomes a reality. 511 00:23:45,116 --> 00:23:48,284 The unbroken rail speeds western expansion 512 00:23:48,378 --> 00:23:50,028 And spurs commerce, 513 00:23:50,121 --> 00:23:52,389 Turbocharging the nation's economic growth 514 00:23:54,125 --> 00:23:58,312 And ushering in america's gilded age. 515 00:23:58,463 --> 00:24:00,372 The emerging titans of capitalism 516 00:24:00,390 --> 00:24:04,318 Acquire unimaginable wealth and power. 517 00:24:04,469 --> 00:24:06,228 But on the other end of the spectrum, 518 00:24:06,380 --> 00:24:08,805 The growing masses of industrial workers 519 00:24:08,899 --> 00:24:11,049 Began to flex their own muscle, 520 00:24:11,142 --> 00:24:13,309 Leaving a president in the middle, 521 00:24:13,329 --> 00:24:16,312 Unsure which track to head down. 522 00:24:16,332 --> 00:24:19,082 (dramatic music) 523 00:24:27,659 --> 00:24:29,158 - Grover cleveland had originally 524 00:24:29,253 --> 00:24:31,586 Been elected president in 1884. 525 00:24:31,739 --> 00:24:33,405 He served one term. 526 00:24:33,498 --> 00:24:35,432 And then he was thrown out of office. 527 00:24:36,426 --> 00:24:38,410 He was the only president 528 00:24:38,503 --> 00:24:40,912 Who then came back four years later 529 00:24:40,931 --> 00:24:42,439 And was again, elected. 530 00:24:44,084 --> 00:24:47,176 Grover cleveland really subscribed to the laissez-faire 531 00:24:47,271 --> 00:24:50,179 View of what government should do about the economy, 532 00:24:50,274 --> 00:24:52,682 Which was really to do nothing. 533 00:24:52,701 --> 00:24:53,592 (dramatic music) 534 00:24:53,685 --> 00:24:55,685 - That view is, in some sense, 535 00:24:55,704 --> 00:24:58,372 The embodiment of the gilded age 536 00:24:58,599 --> 00:25:00,615 And the railroads are really at the core. 537 00:25:00,709 --> 00:25:02,692 (curious music) 538 00:25:02,711 --> 00:25:06,362 - The railroads were the country's biggest employer, 539 00:25:06,382 --> 00:25:08,507 The largest private land owner 540 00:25:09,868 --> 00:25:11,777 And revenues for the industry, overall, 541 00:25:11,870 --> 00:25:14,112 Were probably something like three times 542 00:25:14,131 --> 00:25:15,847 As much as the federal government's. 543 00:25:17,393 --> 00:25:19,618 - Just a month into cleveland's presidency, however, 544 00:25:19,711 --> 00:25:23,046 The panic of 1893 strikes. 545 00:25:23,065 --> 00:25:27,067 - It began with a single railroad that went bankrupt 546 00:25:27,294 --> 00:25:29,987 And led to this kind of cascade of misery. 547 00:25:31,648 --> 00:25:34,316 As the economy contracted, 548 00:25:34,468 --> 00:25:37,636 It would naturally affect the pullman palace car company 549 00:25:37,729 --> 00:25:41,323 In chicago. (dramatic music) 550 00:25:41,475 --> 00:25:43,642 - [austan] the pullman palace car 551 00:25:43,660 --> 00:25:45,660 Was the gulf stream jet of the day. 552 00:25:45,754 --> 00:25:48,997 (pensive music) 553 00:25:49,149 --> 00:25:50,498 So if you were rich, 554 00:25:50,651 --> 00:25:52,259 You had your own private car 555 00:25:53,596 --> 00:25:55,912 And you could have it attached to a train. 556 00:25:55,931 --> 00:25:58,490 - They were extremely luxurious. 557 00:25:58,508 --> 00:26:01,676 A lot of carved wood, beveled mirrors. 558 00:26:01,770 --> 00:26:03,687 Very, very elaborate. 559 00:26:05,332 --> 00:26:08,424 George pullman, who began the pullman company, 560 00:26:08,518 --> 00:26:10,836 Looked at workers as simply 561 00:26:10,929 --> 00:26:13,447 A commodity that cost him money. 562 00:26:13,598 --> 00:26:15,431 He never looked at them as human beings 563 00:26:15,451 --> 00:26:17,509 And that was the prevailing view 564 00:26:17,602 --> 00:26:20,787 Of a businessmen in that gilded age. 565 00:26:20,939 --> 00:26:24,291 - So in the midst of the worst economic depression 566 00:26:24,518 --> 00:26:25,684 In history, 567 00:26:25,702 --> 00:26:28,870 Pullman cuts employees wages by 25%. 568 00:26:28,964 --> 00:26:30,422 That's starvation wages. 569 00:26:31,967 --> 00:26:33,467 - As a result of this, 570 00:26:33,618 --> 00:26:35,952 The pullman workers went out on strike 571 00:26:35,971 --> 00:26:38,046 And sympathy strikes were called 572 00:26:38,198 --> 00:26:40,365 By other rail worker unions. 573 00:26:40,384 --> 00:26:42,792 (pensive music) 574 00:26:42,886 --> 00:26:45,036 - After a couple of months, 575 00:26:45,055 --> 00:26:49,374 Rather than just 4,000 or so workers on strike, 576 00:26:49,467 --> 00:26:51,710 There are more than a hundred thousand 577 00:26:51,803 --> 00:26:54,045 Stopping the railroad system. 578 00:26:54,064 --> 00:26:56,548 (pensive music) 579 00:26:56,566 --> 00:26:58,474 - Now presidents of the united states 580 00:26:58,494 --> 00:27:02,220 Did not typically get involved in labor disputes, 581 00:27:02,239 --> 00:27:03,497 But in this case, 582 00:27:03,724 --> 00:27:06,482 The american economy was in serious danger 583 00:27:06,576 --> 00:27:07,909 Of simply stopping. 584 00:27:08,003 --> 00:27:10,653 (brooding music) 585 00:27:10,673 --> 00:27:14,007 - This was something that no president could ignore. 586 00:27:15,511 --> 00:27:18,753 - The conundrum for cleveland is a legal question. 587 00:27:18,847 --> 00:27:22,090 Does the president have the authority to intervene? 588 00:27:22,184 --> 00:27:23,684 Cleveland makes the case 589 00:27:23,835 --> 00:27:26,502 That the governor of illinois has lost control. 590 00:27:26,522 --> 00:27:28,838 So the president needs to act. 591 00:27:28,857 --> 00:27:31,082 Cleveland, himself, is insisting. 592 00:27:31,101 --> 00:27:33,176 He's sending in the troops, 593 00:27:33,195 --> 00:27:35,362 But in a series of telegrams, 594 00:27:35,513 --> 00:27:37,698 The governor is saying to the president, 595 00:27:37,925 --> 00:27:40,759 "chicago doesn't need federal intervention here. 596 00:27:40,777 --> 00:27:41,943 "we don't need troops". 597 00:27:42,037 --> 00:27:44,262 (dramatic music) 598 00:27:44,281 --> 00:27:46,598 - [jon] the governor is very sympathetic to workers 599 00:27:46,616 --> 00:27:48,709 And had the gall to confront 600 00:27:48,860 --> 00:27:50,043 The president of the united states 601 00:27:50,195 --> 00:27:52,546 And lecture him on what the constitution said 602 00:27:52,697 --> 00:27:55,941 On what he thought was the violation of state's rights. 603 00:27:56,034 --> 00:27:59,035 - [susan] and cleveland is astonished. 604 00:27:59,054 --> 00:28:01,112 (dramatic music) 605 00:28:01,131 --> 00:28:03,782 - Cleveland is really at a crossroads. 606 00:28:03,875 --> 00:28:06,968 How can he deal with this strike? 607 00:28:07,062 --> 00:28:10,213 - Well, president cleveland took the responsibility 608 00:28:10,307 --> 00:28:12,123 That the federal government had 609 00:28:12,217 --> 00:28:15,051 For delivering the mail very seriously. 610 00:28:15,070 --> 00:28:16,903 And cleveland said that, you know, 611 00:28:17,130 --> 00:28:19,147 If it takes the army and the navy 612 00:28:19,299 --> 00:28:22,984 To deliver a single postcard to chicago, 613 00:28:23,136 --> 00:28:25,162 Then that's how it's gonna be delivered. 614 00:28:26,807 --> 00:28:29,249 - So brilliantly, the pullman company 615 00:28:29,400 --> 00:28:33,086 Couples the pullman cars to the federal mail cars. 616 00:28:33,313 --> 00:28:36,072 So when american railway union workers 617 00:28:36,091 --> 00:28:38,759 Refuse to move those pullman cars, 618 00:28:38,910 --> 00:28:42,245 By extension, they're refusing to move those mail cars 619 00:28:42,264 --> 00:28:44,823 And they're violating federal law. 620 00:28:44,841 --> 00:28:47,342 And that invites the government to intervene 621 00:28:47,494 --> 00:28:49,661 Because they're interfering with the delivery 622 00:28:49,679 --> 00:28:50,729 Of the us mail. 623 00:28:52,107 --> 00:28:53,774 - [jon] cleveland gets an injunction 624 00:28:53,925 --> 00:28:55,925 To make the strike illegal 625 00:28:56,019 --> 00:28:59,521 With the contention that the mail had been disruptive. 626 00:28:59,615 --> 00:29:00,522 (dramatic music) 627 00:29:00,616 --> 00:29:02,598 - So for the first time, 628 00:29:02,618 --> 00:29:04,600 The injunction becomes a tool 629 00:29:04,694 --> 00:29:09,681 Which capital used to break labor strikes in the future. 630 00:29:09,774 --> 00:29:11,866 And cleveland sends in troops, 631 00:29:11,960 --> 00:29:14,277 Much to the chagrin of the governor of illinois. 632 00:29:14,296 --> 00:29:15,444 (dramatic music) 633 00:29:15,464 --> 00:29:17,964 - By July 4th of 1894, 634 00:29:18,191 --> 00:29:21,376 Some 12,000 troops are in the chicago area. 635 00:29:21,470 --> 00:29:22,803 (dramatic music) 636 00:29:23,030 --> 00:29:25,864 The stakes have all of a sudden been raised. 637 00:29:25,882 --> 00:29:29,200 (intense discorded music) 638 00:29:29,294 --> 00:29:30,535 - [yohuru] clashes between troops 639 00:29:30,554 --> 00:29:32,461 And workers hamper the city. 640 00:29:32,556 --> 00:29:33,872 (guns banging) (people moaning) 641 00:29:33,965 --> 00:29:35,965 You see untold property damages. 642 00:29:35,984 --> 00:29:38,634 (dramatic music) 643 00:29:38,728 --> 00:29:40,061 When all is said and done, 644 00:29:40,155 --> 00:29:42,138 It was about 80 million dollars of damage. 645 00:29:42,232 --> 00:29:44,991 $2.2 billion worth today. 646 00:29:45,143 --> 00:29:48,411 That really becomes the legacy of this railway strike. 647 00:29:49,739 --> 00:29:51,222 - The pullman strike ends 648 00:29:51,241 --> 00:29:53,074 Largely on the terms of the railroads. 649 00:29:53,226 --> 00:29:55,060 The trains get moving again. 650 00:29:55,078 --> 00:29:57,745 The railroad workers union survives, 651 00:29:57,840 --> 00:30:00,656 But it doesn't have the strength that it had before. 652 00:30:00,676 --> 00:30:02,417 Cleveland has taken the position 653 00:30:02,569 --> 00:30:04,994 That the interests of the country 654 00:30:05,013 --> 00:30:06,571 Are more closely aligned 655 00:30:06,664 --> 00:30:08,406 With the interest of business 656 00:30:08,425 --> 00:30:10,666 Than with the interests of workers. 657 00:30:10,686 --> 00:30:13,502 It would take another 40 years 658 00:30:13,597 --> 00:30:15,522 Until the great depression 659 00:30:15,673 --> 00:30:18,007 Before government would sincerely come around 660 00:30:18,101 --> 00:30:22,696 To take the side of workers and support labor unions. 661 00:30:26,776 --> 00:30:28,943 (ambient music) 662 00:30:29,429 --> 00:30:30,612 - [bill] a strong economy is the foundation 663 00:30:30,764 --> 00:30:31,621 Of a strong nation. 664 00:30:32,708 --> 00:30:34,357 As a nation grows, 665 00:30:34,376 --> 00:30:36,376 So does the economic role of the president. 666 00:30:37,379 --> 00:30:39,621 From an uncritical cheerleader 667 00:30:39,773 --> 00:30:42,624 To the guardian of a level playing field 668 00:30:42,776 --> 00:30:45,135 To the lead investor in america's future. 669 00:30:46,871 --> 00:30:48,555 By the 1950s, 670 00:30:48,706 --> 00:30:51,783 America is the largest economy on earth, 671 00:30:51,801 --> 00:30:54,636 But you wouldn't know it by looking at our roads. 672 00:30:54,730 --> 00:30:56,971 The poor state of our nation's vital arteries 673 00:30:57,065 --> 00:30:59,566 Is something present eisenhower learned about first hand 674 00:31:00,961 --> 00:31:02,810 And vowed to do something about it. 675 00:31:02,905 --> 00:31:05,572 (pensive music) 676 00:31:05,723 --> 00:31:08,408 (dramatic music) 677 00:31:12,414 --> 00:31:13,805 (upbeat music) 678 00:31:13,823 --> 00:31:17,233 - Dwight d. Eisenhower was 28 years old 679 00:31:17,327 --> 00:31:20,403 And a graduate of west point 680 00:31:20,422 --> 00:31:21,980 When he gets assigned 681 00:31:22,073 --> 00:31:25,483 To the trans-continental transport mission 682 00:31:25,502 --> 00:31:26,668 By the us army. 683 00:31:26,762 --> 00:31:28,244 (drums beating) 684 00:31:28,263 --> 00:31:31,431 - The transcontinental motor convoy 685 00:31:31,582 --> 00:31:34,935 Is created in 1919 686 00:31:35,162 --> 00:31:38,680 To test the highway system of the united states. 687 00:31:38,774 --> 00:31:40,999 If there was some reason 688 00:31:41,017 --> 00:31:42,667 Why you had to evacuate 689 00:31:42,760 --> 00:31:45,094 Or you had to move lots of people, 690 00:31:45,113 --> 00:31:46,854 How long would it take 691 00:31:47,007 --> 00:31:50,116 To drive across the country? 692 00:31:50,268 --> 00:31:53,269 So they start the world's worst road trip. 693 00:31:53,288 --> 00:31:55,872 (upbeat music) 694 00:31:59,853 --> 00:32:04,038 - So this convoy have to go 3000 miles from washington, dc, 695 00:32:04,191 --> 00:32:05,857 All the way to san francisco 696 00:32:05,950 --> 00:32:09,618 In vintage world war I era vehicles. 697 00:32:09,638 --> 00:32:13,715 And they figure it's going to take them a few weeks. 698 00:32:13,867 --> 00:32:16,142 Eisenhower sees firsthand 699 00:32:16,294 --> 00:32:19,370 That the united states does not have a highway system. 700 00:32:19,389 --> 00:32:20,981 It doesn't even have a road system. 701 00:32:22,225 --> 00:32:23,875 Between illinois and nevada, 702 00:32:23,968 --> 00:32:26,211 There were no roads that were paved. 703 00:32:26,304 --> 00:32:28,304 And so it takes them two months. 704 00:32:28,323 --> 00:32:30,215 (dramatic music) 705 00:32:30,233 --> 00:32:34,886 - When eisenhower became president in 1953, 706 00:32:34,979 --> 00:32:37,163 High on his list was this idea 707 00:32:37,315 --> 00:32:39,982 Of creating a national highway system. 708 00:32:40,076 --> 00:32:42,393 - Dwight eisenhower recognizes, 709 00:32:42,412 --> 00:32:45,396 This is the centerpiece 710 00:32:45,490 --> 00:32:48,657 To what the us economy is becoming. 711 00:32:48,677 --> 00:32:52,345 (rock and roll music) 712 00:32:52,497 --> 00:32:56,241 We've come back from world war ii and we're booming. 713 00:32:56,259 --> 00:32:57,575 The babies are booming. 714 00:32:57,594 --> 00:32:58,760 The economy is booming. 715 00:32:58,854 --> 00:33:00,745 And it's totally obvious 716 00:33:00,838 --> 00:33:03,023 That one of the main constraints 717 00:33:03,250 --> 00:33:04,432 Is traffic, 718 00:33:04,584 --> 00:33:06,008 Congestion, 719 00:33:06,028 --> 00:33:07,027 Driving. 720 00:33:08,588 --> 00:33:10,588 - Eisenhower had seen the roads in germany, 721 00:33:10,607 --> 00:33:13,758 Which were famously well-built. 722 00:33:13,777 --> 00:33:15,443 And he took note of that, 723 00:33:15,595 --> 00:33:18,854 That having highways is actually a strategic advantage. 724 00:33:18,874 --> 00:33:22,542 Not only is it, he believed, probably good for the economy, 725 00:33:22,769 --> 00:33:26,120 But it may have a national defense element, too. 726 00:33:26,273 --> 00:33:27,622 - [narrator] today, many of our highways 727 00:33:27,716 --> 00:33:30,108 Are already obsolete. 728 00:33:30,126 --> 00:33:32,960 What would happen on them during a national emergency? 729 00:33:33,055 --> 00:33:34,870 The entire population 730 00:33:34,890 --> 00:33:37,140 Under panicked conditions, trying to escape. 731 00:33:37,967 --> 00:33:40,968 (troops stomping) 732 00:33:41,063 --> 00:33:43,137 - The creation of the 733 00:33:43,290 --> 00:33:45,306 Intercontinental ballistic missiles 734 00:33:45,458 --> 00:33:47,625 Are on the horizon in the prospects 735 00:33:47,644 --> 00:33:49,644 That we could go to war 736 00:33:49,738 --> 00:33:51,462 With the soviet union, 737 00:33:51,556 --> 00:33:53,222 And they could fire a missile. 738 00:33:53,241 --> 00:33:54,557 (fire blazing) 739 00:33:54,651 --> 00:33:57,243 And we will have 45 minutes 740 00:33:57,395 --> 00:34:00,413 To get everyone out of a major city in the united states 741 00:34:00,565 --> 00:34:01,897 Or else everyone will die. 742 00:34:01,991 --> 00:34:05,143 (suspenseful music) 743 00:34:05,236 --> 00:34:06,735 - Now whether he really believed 744 00:34:06,755 --> 00:34:08,404 That this would happen or not, 745 00:34:08,423 --> 00:34:11,240 It was very like eisenhower to plan for disaster, 746 00:34:11,259 --> 00:34:12,667 To plan ahead 747 00:34:12,819 --> 00:34:15,336 And to think about what a calamity it would be, 748 00:34:15,430 --> 00:34:17,488 If heaven forbid, 749 00:34:17,582 --> 00:34:19,099 Something like that should happen 750 00:34:19,326 --> 00:34:21,159 And americans couldn't get out of their own cities. 751 00:34:21,177 --> 00:34:24,178 (intense music) 752 00:34:24,331 --> 00:34:26,180 So part of his explanation to the country 753 00:34:26,274 --> 00:34:28,257 And to the congress was, 754 00:34:28,351 --> 00:34:31,002 There are defense reasons why we need 755 00:34:31,095 --> 00:34:32,353 An interstate highway system. 756 00:34:32,447 --> 00:34:34,355 (pensive music) 757 00:34:34,449 --> 00:34:36,023 - Eisenhower says, 758 00:34:36,118 --> 00:34:38,860 "we ought to spend a hundred billion dollars on highways". 759 00:34:39,012 --> 00:34:41,270 - By far the largest public works project 760 00:34:41,364 --> 00:34:42,789 America had ever undertaken. 761 00:34:43,016 --> 00:34:45,291 - There's grousing in congress and people say, 762 00:34:45,443 --> 00:34:47,352 "well, how would we pay for that?" 763 00:34:47,370 --> 00:34:49,462 And they reject the idea. 764 00:34:49,689 --> 00:34:52,023 But eisenhower clearly won't give up. 765 00:34:52,041 --> 00:34:53,374 So congress says, 766 00:34:53,526 --> 00:34:55,360 "okay, well, let's have the states pay for it". 767 00:34:55,453 --> 00:34:56,619 They're like, "wait a minute!" 768 00:34:56,638 --> 00:34:59,030 "we wanted you to pay for it." 769 00:34:59,123 --> 00:35:00,956 - And so eisenhower built a coalition. 770 00:35:00,976 --> 00:35:02,625 He was able to get republicans 771 00:35:02,644 --> 00:35:04,218 And democrats working together 772 00:35:04,371 --> 00:35:07,814 Who saw this as an advantage to the country, as a whole. 773 00:35:08,041 --> 00:35:10,875 Finally, the breakthrough comes in late 1955 774 00:35:10,894 --> 00:35:12,894 When the law is passed in 1956. 775 00:35:13,046 --> 00:35:14,212 And the way to pay for it 776 00:35:14,305 --> 00:35:15,655 Is to create a highway trust fund. 777 00:35:15,806 --> 00:35:17,640 (ethereal music) 778 00:35:17,659 --> 00:35:19,884 (land exploding) 779 00:35:19,903 --> 00:35:20,718 - [eisenhower voiceover] highways mean 780 00:35:20,737 --> 00:35:22,403 Progress for our country. 781 00:35:22,497 --> 00:35:24,405 It means greater convenience for greater numbers of people, 782 00:35:24,499 --> 00:35:25,406 Greater happiness, 783 00:35:25,558 --> 00:35:26,583 Greater standards of living. 784 00:35:28,170 --> 00:35:31,062 - The first few miles were laid down in kansas, 785 00:35:31,155 --> 00:35:33,414 Which is eisenhower's home state. 786 00:35:33,566 --> 00:35:36,659 They build out 40,000 miles 787 00:35:36,753 --> 00:35:38,494 Of highway in the united states 788 00:35:38,513 --> 00:35:41,664 With good, beautiful blue signs. 789 00:35:41,683 --> 00:35:44,350 And that highway system, 790 00:35:44,502 --> 00:35:47,520 A, does unite the country. 791 00:35:47,672 --> 00:35:52,007 B, does facilitate the economic growth 792 00:35:52,027 --> 00:35:54,176 And the population growth that is happening, 793 00:35:54,196 --> 00:35:57,363 Starts spreading it out over places where it wasn't before. 794 00:35:58,700 --> 00:36:01,926 It also really ignites 795 00:36:01,945 --> 00:36:05,187 What is to become a dominant industry 796 00:36:05,207 --> 00:36:07,765 In the us economy, which is tourism. 797 00:36:07,784 --> 00:36:10,952 (traffic humming) 798 00:36:11,104 --> 00:36:14,714 But like every other major decision that presidents make... 799 00:36:14,865 --> 00:36:17,383 (reflective music) 800 00:36:17,535 --> 00:36:19,552 It also comes with its own 801 00:36:19,704 --> 00:36:21,721 Controversy and down side. 802 00:36:21,872 --> 00:36:24,449 - The people that built the big super highways 803 00:36:24,467 --> 00:36:26,726 Had no interest in saving 804 00:36:26,877 --> 00:36:29,211 On what we might call mom and pop neighborhoods, 805 00:36:29,231 --> 00:36:32,807 Ones that have real culture in them. 806 00:36:32,901 --> 00:36:35,568 They would build these interstates smack in to cities 807 00:36:35,795 --> 00:36:38,220 That would destroy historic neighborhoods. 808 00:36:38,314 --> 00:36:39,964 And so there was something lost 809 00:36:39,983 --> 00:36:41,966 With the interstate highway system, 810 00:36:42,059 --> 00:36:44,160 A lot gained, but something lost. 811 00:36:48,250 --> 00:36:49,807 - [bill] the nations interstate highway system 812 00:36:49,826 --> 00:36:52,159 Was utterly transformative. 813 00:36:52,254 --> 00:36:54,587 It created new industries and new ways of life. 814 00:36:56,073 --> 00:36:58,165 But like so many developments, 815 00:36:58,318 --> 00:37:01,594 Its changes were not all positives, 816 00:37:01,746 --> 00:37:03,988 Which is the story of progress, really. 817 00:37:04,007 --> 00:37:08,268 We plan for it, hope for the best and work for it. 818 00:37:08,419 --> 00:37:12,755 But unless we deal with the negative consequences, 819 00:37:12,774 --> 00:37:14,732 We must live with the verdict of history. 820 00:37:17,020 --> 00:37:19,504 (pensive music) 821 00:37:19,597 --> 00:37:21,614 - Eisenhower's interstate highway system 822 00:37:21,766 --> 00:37:23,357 Was good for the economy 823 00:37:23,510 --> 00:37:26,286 And it creates things like the trucking industry. 824 00:37:26,437 --> 00:37:28,937 The automobile becomes ubiquitous. 825 00:37:29,032 --> 00:37:30,698 All americans want one. 826 00:37:30,792 --> 00:37:33,293 There are more cars that people in the united states. 827 00:37:34,537 --> 00:37:37,021 - The expansion of urban sprawl 828 00:37:37,114 --> 00:37:39,448 Is facilitated, in large part, 829 00:37:39,542 --> 00:37:42,376 By big free highways 830 00:37:42,470 --> 00:37:46,288 That make it possible for you to live far out 831 00:37:46,308 --> 00:37:49,291 And buy a big house for not as much money 832 00:37:49,311 --> 00:37:51,869 And just drive in each morning to work. 833 00:37:51,888 --> 00:37:54,605 (pensive music) 834 00:37:56,318 --> 00:37:59,727 - All of that poured concrete is a marvel of engineering. 835 00:37:59,879 --> 00:38:01,487 But when it got near big cities, 836 00:38:01,639 --> 00:38:04,065 It actually ruined neighborhoods. 837 00:38:04,159 --> 00:38:07,885 It would cut right through and destroy where people lived, 838 00:38:07,978 --> 00:38:10,237 Move people out, bullied people. 839 00:38:10,390 --> 00:38:13,649 (machinery clanking) 840 00:38:13,668 --> 00:38:16,318 - Highways had a way of changing the urban landscape 841 00:38:16,338 --> 00:38:17,837 In ways that were not always conducive 842 00:38:17,988 --> 00:38:20,840 To fairness and economic equality. 843 00:38:20,991 --> 00:38:22,842 They often divided certain cities 844 00:38:22,993 --> 00:38:25,586 Into a poor side and a wealthy side, 845 00:38:25,738 --> 00:38:27,680 Or a black side and a white side. 846 00:38:29,834 --> 00:38:31,258 - We see oftentimes, 847 00:38:31,353 --> 00:38:33,427 That there is a decision made about these communities 848 00:38:33,521 --> 00:38:34,837 And saying well, 849 00:38:34,856 --> 00:38:36,931 In the interest of a national highway system, 850 00:38:37,083 --> 00:38:38,358 In the interest of democracy, 851 00:38:38,585 --> 00:38:40,418 In the interest of the united states, 852 00:38:40,436 --> 00:38:43,029 We are going to destroy this community. 853 00:38:43,180 --> 00:38:45,698 And it disproportionately, I think, 854 00:38:45,850 --> 00:38:49,093 Harms underrepresented communities. 855 00:38:49,112 --> 00:38:50,611 (ominous music) 856 00:38:50,705 --> 00:38:53,431 - So there were some really negative consequences 857 00:38:53,524 --> 00:38:56,100 For our cities, but nonetheless, 858 00:38:56,193 --> 00:38:57,935 This was a moment where eisenhower used 859 00:38:57,954 --> 00:39:01,714 All of his tools, his experience, his knowledge, 860 00:39:01,866 --> 00:39:04,942 And he plays a huge role in linking the country together, 861 00:39:04,961 --> 00:39:08,112 In reshaping america's own identity about themselves. 862 00:39:08,131 --> 00:39:10,281 (pensive music) 863 00:39:10,299 --> 00:39:12,725 Americans had known nothing but depression, 864 00:39:12,952 --> 00:39:17,230 Economic crisis and war from about 1930 865 00:39:17,381 --> 00:39:20,566 Until about 1953, when eisenhower became president. 866 00:39:20,718 --> 00:39:22,568 So now for the first time, 867 00:39:22,795 --> 00:39:26,814 Americans felt a little bit of economic security. 868 00:39:26,966 --> 00:39:28,966 And eisenhower rightly got the credit for that. 869 00:39:28,985 --> 00:39:31,702 (pensive music) 870 00:39:33,063 --> 00:39:35,306 - What you've seen again and again 871 00:39:35,399 --> 00:39:37,583 With these major presidential decisions, 872 00:39:38,978 --> 00:39:42,480 Is that by identifying and tapping in 873 00:39:42,573 --> 00:39:45,716 To the concerns that america has, 874 00:39:47,336 --> 00:39:50,838 Presidents have been able to use federal action 875 00:39:50,990 --> 00:39:53,749 To stitch the country together, 876 00:39:53,843 --> 00:39:55,826 Make it really one nation 877 00:39:55,845 --> 00:39:58,512 In a way that disparate countries of europe 878 00:39:58,665 --> 00:40:00,273 Or around the world never were. 879 00:40:01,609 --> 00:40:04,502 And to facilitate 880 00:40:04,595 --> 00:40:06,854 The kind of the bounty that is 881 00:40:06,948 --> 00:40:09,523 The american experience, 882 00:40:09,617 --> 00:40:11,784 Our land, our resources, 883 00:40:11,936 --> 00:40:13,453 Our ingenuity 884 00:40:13,604 --> 00:40:17,457 To enable the westward expansion, 885 00:40:17,684 --> 00:40:20,685 The tying together of north and south 886 00:40:20,778 --> 00:40:23,629 And the growth of our economy. 887 00:40:23,781 --> 00:40:25,539 (reflective music) 888 00:40:25,692 --> 00:40:28,784 And really only the president can do that. 889 00:40:28,803 --> 00:40:31,637 (reflective music) 890 00:40:35,793 --> 00:40:37,384 - As we've seen, 891 00:40:37,537 --> 00:40:39,645 The economic decisions that presidents make 892 00:40:39,797 --> 00:40:41,889 Can affect the lives of americans for 893 00:40:42,041 --> 00:40:43,799 Generations to come. 894 00:40:43,893 --> 00:40:44,725 Throughout our history, 895 00:40:44,877 --> 00:40:46,060 There's always been a tension 896 00:40:46,212 --> 00:40:48,713 Between spending on the present 897 00:40:48,731 --> 00:40:51,157 And investing in the future. 898 00:40:51,308 --> 00:40:52,658 Now, we all have a natural tendency 899 00:40:52,810 --> 00:40:55,143 To spend what we have on the present. 900 00:40:55,163 --> 00:40:58,164 But america has always been most successful 901 00:40:58,391 --> 00:41:01,742 When we are also in the future business, 902 00:41:01,894 --> 00:41:04,820 When we make some investments today 903 00:41:04,839 --> 00:41:07,840 That will produce great rewards, tomorrow. 904 00:41:09,493 --> 00:41:11,511 For example, I made two decisions 905 00:41:11,738 --> 00:41:13,328 That didn't register much at the time, 906 00:41:13,348 --> 00:41:15,497 But that I thought would be important 907 00:41:15,591 --> 00:41:17,908 Long after I left office. 908 00:41:17,927 --> 00:41:20,911 First, providing the investment necessary 909 00:41:20,930 --> 00:41:23,356 To finish sequencing the human genome. 910 00:41:24,417 --> 00:41:25,149 And second, 911 00:41:26,769 --> 00:41:29,177 Putting our defense department's gps technology 912 00:41:29,272 --> 00:41:30,530 Into the public domain, 913 00:41:32,182 --> 00:41:36,093 Both of which produced outsized returns to our economy 914 00:41:36,112 --> 00:41:38,596 And to our quality of life. 915 00:41:38,689 --> 00:41:41,857 Without a continued effort to innovate 916 00:41:41,951 --> 00:41:43,709 And expand opportunity, 917 00:41:43,861 --> 00:41:45,452 We run the risk of falling behind, 918 00:41:45,605 --> 00:41:50,216 Especially in an increasingly complex and competitive world. 919 00:41:51,219 --> 00:41:52,868 Still for all our challenges, 920 00:41:52,887 --> 00:41:57,205 America is well positioned for success in the 21st century. 921 00:41:57,225 --> 00:42:01,227 And I remain optimistic, but only, 922 00:42:01,378 --> 00:42:04,021 If we keep focusing on the future. 923 00:42:05,900 --> 00:42:08,401 (violin music) 924 00:42:14,909 --> 00:42:16,650 (cannons banging) 925 00:42:16,744 --> 00:42:19,245 (violin music) 926 00:42:24,902 --> 00:42:27,086 (bomb exploding) 927 00:42:27,237 --> 00:42:29,589 (violin music) 928 00:42:31,150 --> 00:42:32,166 (loud pounding) (clock ticking) 929 00:42:32,260 --> 00:42:34,760 (violin music)