The third section of the chapter claims that Andrew Jackson, the seventh President of the United States strongly disliked paper currency. This was due to a personal experience called the Panic of 1819 “that had made him uneasy about paper money”. During his presidency, he had clashing opinions with the bank’s director, Nicholas Biddle. Thus, came about the Bank Wars. He saw the bank of the United States as a multi-headed monster that he must slay. He strongly saw gold and silver as the best alternative currency. In contemporary terms, I found this reading to be historically ironic due to the fact that he is the face of the $20 dollar bill that is used throughout the entire country every second, a form of paper currency (Corbett et al.
The third section of the chapter claims that Andrew Jackson, the seventh President of the United States strongly disliked paper currency. This was due to a personal experience called the Panic of 1819 “that had made him uneasy about paper money”. During his presidency, he had clashing opinions with the bank’s director, Nicholas Biddle. Thus, came about the Bank Wars. He saw the bank of the United States as a multi-headed monster that he must slay. He strongly saw gold and silver as the best alternative currency. In contemporary terms, I found this reading to be historically ironic due to the fact that he is the face of the $20 dollar bill that is used throughout the entire country every second, a form of paper currency (Corbett et al.