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Andrew Jackson & the National Bank
5
ANDREW JACKSON
AND
THE NATIONAL BANK
By Sai Baddipudi
THESIS
In an era shadowed by fear and manipulation, Andrew Jackson was anything but the common politician. He was a man made from the toughness and roots of the earth resulting in every political decision from his time as a young leader in the House of Representatives to his time as President. He ruled the country in a way that he thought was fair and just -in order to please the common folk and the party he took part in, regardless if logic said that it would hurt the national economy.
1
When Jackson first got into office he made a list of goals, and in those goals at the top of the list was to bring down the national bank.
•BUS owned by private investors
•BUS waged war against the people driving them “impoverished and ruined” (Document E)
•against paper money
2
Jackson had many foes and while in office and while amidst of his tough political turmoil there were none greater than Henry Clay, Daniel Webster, and Nicholas Biddle when they presented the Congress with a bill to expand the charter of the Bank.
•solely a political stunt
• special power to the executive branch over the legislative (Document B)
• Daniel Webster expressed his disapproval of the veto (Document D)
•“The Bank... is trying to kill me, but I will kill it.”
3
The death of the bank official occurred in 1836, but Jackson’s full out war with it resulted in a huge win for the common man before Jackson left office in the same year.
• removed all federal deposits from the bank
•placed the money in “pet-banks”
•land purchases by gold or silver only
Henry Clay spoke harshly--“totally inexperienced and incompetent” (Document C)