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Jackson's Presidency is marked by his huge battle with the Second Bank of the United States, charted by congress in 1816. He hated banks, all banks. He believed that bankers were like "parasites who preyed upon the poor and honest working people of America" (americanpresident.org). The Second Bank had the right to hold all government money, sold all government bonds, and made commercial loans. However, voters could not dictate its policies or reign in its power. The Bank worked much like an autonomous government with few democratic controls over it. Jackson objected to it because although it had a powerful voice in national affair, it "was not responsive to the will of the people"(library.advanced). The bank, he claimed, "benefited only the creditor, investor, and speculator at the expense of the working and agrarian classes that produced the real wealth of the nation by their labor"(library.advanced). Wealth became concentrated in the hands of the few, and Jackson was determined not to let that happened. Because of these things, Jackson worked hard throughout his presidency to kill it.
When many feared that Jackson would not renew the Bank's charter that was due to come up in 1836, bank supporters chose to force the issue prior to the election of 1832. They assumed that Jackson would never go against the Second Bank during an election year. They were wrong. Jackson vetoed Biddle and Clay's bill for a charter and then mounted a campaign to justify his actions. "He issued one of the strongest veto messages in American history, comparing the Bank to a monster monopoly controlled by foreign and eastern stockholders" (Americanpresident.org). Jackson's established the preced
Quotes talked about in this paper
- He called his cabinet the "Kitchen Cabinet (it was alleged to have met in the kitchen) comprised mostly of his friends - some having no experience in politics" ...
- Jackson threatened to have the Governor's "both head and ears" ...
Names mentioned in this research paper
Andrew Jackson, Vice President John C Calhoun,
Organizations mentioned in this research paper
Jackson’s administration, Indians, Congress, cabinet,
Locations referenced in this report
South Carolina, United States,
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Keywords referenced in this essay
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