In 1828 Jackson became the president of the united states. Nicholas Biddle, a Philadelphia man ran the bank the Bank of the United States at that time. Biddle took more of an interest in business than in politics. Jackson had a distrust of banks because in his business career, he had been financially damaged by the tightening of bank credit and he retained this distrust of financial institutions. Jackson did not take action against the bank at first. His biggest concern was how sound the system of using paper money in place of gold and silver coins. He also was concerned with the…
Jackson's opposition to the Bank was resolute. Having been granted special privileges, the Bank possessed a very powerful influence upon national affairs however it had no higher entity to answer to, neither the people nor the government. Such power would have enabled the Bank to also wield a great deal of political power. Jackson was immediately suspicious. In a letter from Colonel James A. Hamilton, son of former Treasury Secretary under George Washington, Alexander Hamilton, which was dated December 9, 1833, Hamilton informed Jackson that Biddle had submitted a bank report explaining that the Bank held a position of being required to carry out "other duties than those to the country[23]."…
In the 1830s during Jackson’s presidency the federal bank had many enemies, several factions with varying motives opposed the bank. Jackson gained lots of political support from these groups which proved very influential in the election of 1832. Henry clay who was an avid supporter of the bank and was running against Jackson in the 1832 election hoped to win by making the renewal of the bank a core topic of the election. In the end Clay was crushed, the bulk of Biddle’s political support was vanishing and with a new term Jackson was determined finish the bank by weakening it so that it would not have enough support to renew its charter.…
Maryland, the bank did part of the constitution which means Jackson’s very loose view of commerce made his veto extremely conravetional (Doc. B). This made people like Daniel Webster extremely upset with Jackson’s unconventional view. (Doc. C). He claimed with the veto of the second national bank would cause public outcry. The partys unconstitutional ways got even worse with the government of South Carolina banning freedom of the press. With them taking away freedom of press the South Carolina government clearly not caring about the first amendment. (Doc. F). Jackson, diverging away from his parties plans to protect the constitution, and opposed regulations that were placed on the prized document of the nation he runs. Also, Jackson promised universal manhood suffrage throughout as part as their campaign slogan. Although after they take office, black and women still cannot vote. Also with the spoils system, Jackson gave many people powerful positions that had no background to handle that position. He took a system used by many presidents before him, and took it to the absolute extreme. Harriet Marinaeu visited the…
He only served for two terms, He didn’t believe in permanent political parties, and he only vetoed a bill when it questioned constitutionality. Jackson’s Economic Policy broke one of those warnings and enhanced the development of American democracy for generations to come. Jackson believed, and many of his supporters, that the bank was far too powerful. The bank served mainly to private investors, and not the common people. In 1832 when Henry Clay, one of Jackson's political enemies, proposed an early recharter of the Bank of the United Sates he hoped to get rid of Jackson's wealthy supporters if Jackson vetoed the recharter, and if he passed it then the common man would feel betrayed. Andrew Jackson, immediately vetoed the recharter once it passed through congress. His veto of the recharter bill…
Andrew Jackson believed that the Second Bank of the United States was unconstitutional and that it posed a serious threat to the American economy and its democratic political institutions. Though its charter was not set to expire until 1836, BUS (Bank of the U.S.) president…
President Jackson believed the Second Bank of the United States was corrupt and took away from the people's power and money. He wanted to destroy the bank as soon as he was elected into office. Jackson's strategies to bring about the downfall of the bank were carefully thought out between him and his "Kitchen Cabinet", a group of close friends that gave Jackson advice throughout his presidency.Nicholas Biddle was the president of the Second Bank of the U.S. and Jackson's main adversary in the Bank War. At the young age of 37, Biddle was appointed president of the Second Bank of the U.S. Jackson felt that Biddle was young and inexperienced, and that the bank held too much power and it did not answer to a higher authority, giving it absolute control over the nation's money. Biddle stated that Jackson had no right to change the state of currency because he had no alternative. Jackson retaliated by stating that he would put in motion a reform program for the economy. But the court ruled that the bank was a constitutional institution.…
Nevertheless, he changed his views and supported the rich. Higher class citizens liked the second Bank because it made loans to businesses, formed a stable currency, and created a safe place for government funds. Conversely, lower class citizens disliked that the bank restricted loans. They also believed the bank caused an economic crisis. Andrew Jackson despised the second Bank and its President, Nicholas Biddle. Since Jackson came from an unwealthy family, it is understandable that he hated the fact that Biddle did favors for the rich and represented privilege. When Biddle renewed the Bank’s charter before it ran out, Jackson attempted to stop him by vetoing the bill. As a result, it increased the power of the presidency and the Bank no longer existed in 1836, when its charter ran out. However, without a bank, it was harder for the new president to pull the U.S. out of an economic crisis. The nullification crisis was brought about by a tax on products that would help northern states. However, the southerners thought the tax was not fair. John C. Calhoun supported them by saying the states could nullify the law based on the Virginia and Kentucky Resolutions. Northerners, along with Andrew Jackson and Daniel Webster, were against nullifications and argued that the central government needs to be stronger than the states in order to keep the union together.…
One of the disparities in the views and actions of the Jacksonian Democrats involved social equality. Jackson repeatedly held sectionalist views and did things that were better for the average, poor community than for the country as a whole. One such example of this is shown in Documents B and C involving the National Bank. In his National Bank veto message in Document B, Jackson says, "It is to be regretted that the rich and powerful too often bend the acts of government to their selfish purposes." Jackson singles out the wealthier class and accuses them of being selfish. Because this ridiculous comment has no intelligent purpose other than to create an enormous, nationwide class clash, it must be seen as evidence that Jackson was a sectionalist. Daniel Webster responded to this message in Document C by stating, "It manifestly seeks to inflame the poor against the rich … for the purpose of turning against them [the other class] the prejudices and the resentments of the other classes." Daniel Webster is saying what was previously mentioned. It was as though Jackson was trying to anger the poor to turn against the rich. Jackson's actions show that his primary goal was not to help the country, but to address his own personal issues. This completely contrasts the Jacksonian Democrats view of themselves. The Jacksonians thought that they were acting in the best interest of the country, where they were truly thinking about their own needs.…
Despite abusing his executive power, Jackson was democratic in his policy towards the Bank of United States. Originally founded during the time of Washington’s presidency with Hamilton’s financial plan, the bank was created in order to tie wealthy investors to the government. Jackson found the second Bank of United States harmful because was founded upon the same principles. By opposing the previous judicial ruling of John Marshall in McCulloch v. Maryland, which declared the bank was constitutional, Andrew Jackson had used his presidential power in order to prevent the second Bank of the United States’ charter from being renewed by vetoing it as well as destroying the bank before its expiration in 1836 by removing all federal deposits from it and placing them into “pet banks.” Furthermore, he passed the Species Circular which meant that all mortgages could only be paid in hard currency, which led to the panic of 1837. These events shockingly gave the executive branch the authority over rulings of the Judiciary Branch as well as the legislative…
It cannot be questioned that Andrew Jackson had extreme impact serving as the United States seventh president. He, along with many others of the time, believed that with the impact he had he was even a hero. The fact of the matter, however, is that many results of his impactful decisions were often not always for the benefit of the country. His personal values alone did not seek the country’s best interest. With the overall result of the choices that Jackson made, he was indeed not hero and only limited democracy resulting in negative affects to the United States.…
"The bank, Mr. Van Buren, is trying to kill me, but I will kill it." (Freidel) This quote from Andrew Jackson addressing the Second Bank of the United States said on July 8th 1832 showed his determination and inclination to do what was needed for his people and his country. Despite being so resilient and resolute, Jackson was arguably one of the most influential and controversial presidents in United States history. From his reprisal towards John Quincy Adams after losing the election of 1824, permanently altering the political party system, wishing to dispense of the Electoral College at his first annual message to the Congress, and abolishing the Second Bank of the United States, Andrew Jackson unequivocally left his mark in American history.…
His underestimation of the power of a strong and popular President caused his downfall and the demise of the financial institution he commanded. The bank was given a 20-year charter. The charter allowed it to be exclusively as the federal government’s financial agent. The bank held deposits, made transfers of federal funds between states, and dealt with any payments or receipts involving the federal government. It also issued banknotes, or paper currency. “The present corporate body, denominated the president, directors, and company of the Bank of the United States, will have existed at the time this act is intended to take effect twenty years,”(Primary Sources - The Bank War). Andrew Jackson believed that the bank dominates over the president and the government for as long as the charter is in act. In January 1832, Biddle's supporters in Congress, principally Daniel Webster and Henry Clay, introduced Bank recharter legislation. Even though the charter was not due to expire for four more years, they felt that the current Congress would recharter the Bank. They felt that Jackson would not risk losing votes in Pennsylvania and other commercial states by vetoing it. Jackson reacted by saying to his vice-president, Martin Van Buren, "The Bank is trying to kill me, Sir, but I shall kill it!" The funds were then moved to the state’s banks, these banks used the funds to offer easy…
Before he was president, Andrew Jackson was a respected military leader, gaining glory at the Battle of New Orleans to end the War of 1812. Because of his toughness in battle, never backing down when the odds were against him, he became known as “Old Hickory”. He is also known as the “Common Man”. Before Jackson, most presidents had been born into wealthy families, had the best educations, and were part of the “elite” or upper class. Jackson, however, was born in a log cabin in the Appalachian Mountains to a poor farming family. His parents died while he was young and he became an orphan.…
Andrew Jackson was the 7th President of the United States of America from 1829-1837. During his presidency he faced many challenges. Jackson was famous for his short temper, being prone to violence, and a loyal defender of the common man. Some of the most important challenges he faces are his issues with the National Bank, his dealing with the South and the Natives, dealing with the tariff, and issues concerning his wife's passing and his bad experiences with the British. Jackson is often said to be one of the greatest presidents of the United States, but in my opinion, and I think many people would agree, there are many reasons for doubting that claim.…