him renewed national stature in the wake of a crushing presidential election defeat, and some began referring to him as the "Great Compromiser." Formation of the Whig Party Following the end of the Nullification Crisis in March 1833, Jackson renewed his offensive against the national bank, despite some opposition from within his own Cabinet. Jackson and Secretary of the Treasury Roger Taney pursued a policy of removing all federal deposits from the national bank and placing them in state-chartered banks known as "pet banks." Because federal law required the president to deposit federal revenue in the national bank so long as it was financially stable, many regarded Jackson's actions as illegal, and Clay led the passage of a Senate motion censuring Jackson. Nonetheless, the national bank's federal charter expired in 1836, and though the institution continued to function under a Pennsylvania charter, it never regained the influence it had had at the beginning of Jackson's administration. The removal of deposits helped unite Jackson's opponents into one party for the first time, as National Republicans, Calhounites, former Democrats, and members of the Anti-Masonic Party coalesced into the Whig Party. The term "Whig" originated from a speech Clay delivered in 1834, in which he compared opponents of Jackson to the Whigs, a British political party opposed to absolute monarchy. Neither the Whigs nor the Democrats were unified geographically or ideologically. However, Whigs tended to favor a stronger legislature, a stronger federal government, a higher tariff, greater spending on infrastructure, re-authorization of the Second Bank of the United States, and publicly funded education. Conversely, Democrats tended to favor a stronger president, stronger state governments, lower tariffs, hard money, and expansionism. Neither party took a strong national stand on slavery. The Whig base of support lay in wealthy businessmen, professionals, the professional class, and large planters, while the Democratic base of support lay in immigrant Catholics and yeomen farmers, but each party appealed across class lines. Partly due to grief over the death of his daughter, Anne, Clay chose not to run in the 1836 presidential election, and the Whigs were too disorganized to nominate a single candidate. Three Whig candidates ran against Van Buren: General William Henry Harrison, Senator Hugh Lawson White, and Senator Daniel Webster. By running multiple candidates, the Whigs hoped to force a contingent election in the House of Representatives. Clay personally preferred Webster, but he threw his backing behind