[Former President Martin Van Buren, half-length portrait, facing right]
Martin Van Buren was the eighth President of the United States (1837-1841), after serving as the eighth Vice President and the tenth Secretary of State, both under President Andrew Jackson. While the country was prosperous when the "Little Magician" was elected, less than three months later the financial panic of 1837 punctured the prosperity. A member of the Democratic Party, he served in a number of senior roles, including eighth Vice President (1833–37) and tenth Secretary of State (1829–31), both under Andrew Jackson. Van Buren's inability as president to deal with the economic chaos of the Panic of 1837 and with the surging Whig Party led to his defeat in the 1840 election. "The less government interferes with private pursuits, the better for general prosperity."