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Andrew Jackson's war against the Bank

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with the issue of secession under control Jackson turned his attention to a private institution he believed was corrupt the bank of the it states had real reservations about the bank of the United States into Grand one is he thought it was unconstitutional believe they gave too much power over the American economy to this group of private Bankers who would have their own private interest rather than the interest on country is a hole  the u.s. bank control the flow of silver and gold upon which state Banks based the value of their paper money Jackson pause the bank's ability to alter its value at will he called the banks director Nicholas Biddle Czar Nicholas at the bank itself a monster 2B chain it was using its money for its own Advantage it was paying to have certain man elected tributing Jones their election maintaining their position in Congress through the generous contributions Siri middle had nothing to worry about the Supreme Court had ruled the bank constitutional and its Charter was not up for Renewal until 1836 which would be final year of Jackson second term if he ran and was reelected Henry Clay knew a big opportunity when he saw one who was Bill clay convinced Congress to pass an early recharter bill that would end out of the bank for an additional 12 years with the 1832 just months away play and Biddle drew Jackson into a trap they essentially dared Andrew Jackson to veto the recharter thinking the Jackson wouldn't dare the bank of the United States was too essential to the economy to essential to the business classes in the country Maxon wasn't somebody you lightly dared to do anything  Jackson new vetoing the recharter could pose a risk to his reelection nonetheless Jackson decided to veto the recharter bill that's making the future of the bank of the United States the central issue of the 18th 2 presidential election  Jackson's opponent was none other than Henry Clay who portrayed Jackson as king Andrew the first desperate trampling not just the National Bank but the Constitution itself Darryl and Henry Clay how it was going to play Jackson was able to say I have defended the interest of the people I've taken on the powerful commercial and financial enter and he want he won very handily In 1832 smacking down fill smacking down Henry Clay but good old with years remaining in the bank's current Charter struck back in a way many considered foolish signs that he's going to teach Jackson he's going to show turn the mirror elected official a mirror President should be dabbling in Affairs that should be left to Bankers who presumably knew what they were doing to put Charan Jackson little made life difficult for small business man raising interest rates refusing loan requests and increasing foreclosures business owners appealed to Jackson for help the president was Blount don't come to me he said go to Biddle he's the man with the money meanwhile Jackson order the US Treasury to move its silver and gold reserves from the US Bank in to State Banks wow the Federal Deposit was in essence to drive a stake through the heart of the bank of the United States that because he controls the money he has the car the Jackson decides that this is a matter of principle democracy must rule he pulled the deposits out leaving the bank leaving Biddle Pine Drive Jackson could claim a great Victory when of the bank expire in 1836 Jackson the uneducated commoner was able to not only destroy the u.s. bank but pay off the national debt mainly by selling federal land he has been the only president in history to do so as an ordinary paid off the national debt he was able to go to bed that night with a great deal of satisfaction paying off the national debt was Jackson proudest moment as president

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Andrew Jackson's war against the Bank

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