Martin Van Buren was the first president to be born after the signing of the Declaration of Independence. He is thus the first president born as an American citizen. He grew up to be a clever and resourceful politician who could anticipate and handle political trends. For his political savvy (practical knowledge), he was called "the Little Magician" and the "Red Fox of Kinderhook." In addition to reflecting his slyness, the nicknames describe his appearance. Van Buren stood only fiveand- a-half feet tall and had red hair and long red sideburns.

Van Buren's presidency was eclipsed and made unpopular by the Panic of 1837—the worst depression (drastic economic slump) to hit the United States up to that time. He faced the challenge by introducing policies that would counteract the cycle of boom and bust (repeating periods of upand- down economic conditions) that had...