James K. Polk in his term of presidency changed economically because he acquired new territory for the U.S., also he revived the previously "dead" treasury and he cut the tariffs.
Polk promised to and completed all of his goals as president in one term. He gained a lot more western land for the U.S. Polk cut tariffs and brought back the independent treasury. Doing all of this in one term of presidency was a big feat but Polk completed it and didn't run again.
The Oregon settlement was a great diplomatic success for the United States. By more than balancing the concessions offered to the British in the Webster-Ashburton Treaty, the United States gained rich and strategically situated land to which Great Britain possessed stronger claims. This favorable outcome was not primarily Polk's achievement; to a greater extent it was a victory of time and circumstance.
Polk bought the Oregon Territory on the 49th parallel from Great Britain.
Under the threat of war, theUnited States had refrained from annexing Texas after the latter won independence from Mexico in 1836. But in 1844, President John Tyler restarted negotiations with the Republic of Texas, culminating with a Treaty of Annexation. The treaty was defeated by a wide margin in the Senate because it would upset the slave state/free state balance between North and South and risked war with Mexico, which had broken off relations with the United States. But shortly before leaving office and with the support of President-elect Polk, Tyler managed to get the joint resolution passed on March 1, 1845.Texas was admitted to the union on December 29
The U.S. went to war with Mexico and gained all of Texas and some other southwestern territory.
Soon a bill was before the U.S. Congress, despite opposition from within Polk's own cabinet. After a debate along largely sectional lines, with southerners and westerners favoring the new tariff bill and all but a few northerners opposing it, Vice President George M. Dallas cast the tie-breaking vote in the Senate. Polk quickly signed into law what became known as the Walker Tariff.
Polk cut tariffs which decreased cost of imports and exports of goods.
Polk next moved to revive the Independent Treasury Act that President Martin Van Buren had signed into law in 1840 and the Whig-dominated Congress had repealed the next year. The act established independent treasury deposit offices separate from private or state banks to receive all government funds. The system was designed to be a long term replacement for both the Second Bank of the United States
Polk had the treasury revived as a bank of the U.S.
These changes allowed people to move westward. With a lot more land the citizens could settle on land with better opportunities. Westward expansion was much bigger after America gained all this new land. These also made the country much bigger. The country also had a bank again. These changes didn't really affect the North states more than the South.
History.com Staff. "President Polk Declares War on Mexico." History.com, History.com staff, 2009, www.history.com/this-day-in-history/president-polk-declares-war-on-mexico. Accessed 28 Apr. 2017.
Miller Center Staff. "James K. Polk: Domestic Affairs." UVA Miller Center, millercenter.org/president/polk/domestic-affairs. Accessed 28 Apr. 2017.
"Oregon Claimed by United States and Great Britain, 1823-1846." DISCovering U.S.History, Gale, 2003. Research in Context, go.galegroup.com/ps/i.do?p=MSIC&sw=w&u=pioneer&v=2.1&it=r&id=GALE%7CEJ2104241147&asid=b28ccecd6d5473204e1a48e942a6e7bf. Accessed 28 Apr. 2017.