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BANK WAR OF 1832
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BANK WAR OF 1832
$1.25
Vol XCIII, No. 311
By: Aarti Aravapalli
The Bank of the United States
Jackson's Presidency
The Bank of the United States was created by Alexander Hamilton during Washington's presidency as a way to regulate the United States' economy on a national level and help reduce debt.
Jackson's Plan of Action
In other words, how he destroyed the bank
Fun Fact:
Jackson believed the bank was too powerful and too corrupt. He thought the Bank's president, Nicholas Biddle, and other bank administrators used it for their own benefit rather than the good of the country.
When the bank began cutting back on loans previously given out, farmers from the west were seriously hurt. These were the common people Jackson had sworn to protect when he took office, so he knew he had to do something to help.
When the bank's charter came up for renewal, he vetoed it, which essentially ended it.
Jackson vetoed more bills than the first six presidents COMBINED.
I will kill it!
-Andrew Jackson in regards to the national bank
President Jackson
Western Farmers
National Bank
VETO