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The Bank War was a political struggle that developed over the issue of rechartering the Second Bank of the United States (B.U.S.) during the presidency of Andrew Jackson (1829–1837). The affair resulted in the shutdown of the Bank and its replacement by state banks. The Second Bank of the United States was established as a private organization with a 20-year charter, having the exclusive ...

Bank War, in U.S. history, the struggle between President Andrew Jackson and Nicholas Biddle, president of the Bank of the United States, over the continued existence of the only national banking institution in the nation during the second quarter of the 19th century.The first Bank of the United States, chartered in 1791 over the objections of Thomas Jefferson, ceased in 1811 when Jeffersonian ...

Jackson's opposition to the Bank became almost an obsession. Accompanied by strong attacks against the Bank in the press, Jackson vetoed the Bank Recharter Bill. Jackson also ordered the federal government's deposits removed from the Bank of the United States and placed in state or "Pet" banks. The people were with Jackson, and he was ...

Andrew Jackson's destruction of the bank was ultimately calamitous. The elimination of the Bank in 1836 lead to the Panic of 1837 and a broad based economic crisis. Since Jackson's term ended in 1836, President Martin Van Buren was left to pick of the pieces of the US economy after the collapsed in 1837.

The Bank War was a long and bitter struggle waged by President Andrew Jackson in the 1830s against the Second Bank of the United States, a federal institution that Jackson sought to destroy. Jackson's stubborn skepticism about banks escalated into a highly personal battle between the president of the country and the president of the bank, Nicholas Biddle.

On July 10, 1832, President Andrew Jackson vetoes the government’s effort to re-charter the Second Bank of the United States, one of his most forceful actions against the institution, which he ...

The Bank War. Andrew Jackson’s first term was full of controversy. For all of his reputation as a military and political warrior, however, the most characteristic struggle of his presidency was financial. ... he waged a “war” against the Bank of the United States. Congress established the Bank of the United States in 1791 as a key pillar ...

That crisis was the latest reverberation of Andrew Jackson’s ongoing war against the Second Bank of the United States. The Bank, whose main branch was on Chestnut Street in Philadelphia, had opened its doors in 1816, five years after the discontinuation of its predecessor. ... The Panic Session and its larger context of Jackson’s campaign ...

Jackson became more and more insistent over the next three years as Biddle and the bank’s supporters fought to save it. A visiting Frenchman observed that Jackson had “declared a war to the death against the Bank,” attacking it “in the same cut-and-thrust style” that he had once fought the Indians and the British.

34 The Bank War and Rise of the Whigs The Bank War. Andrew Jackson’s first term was full of controversy. For all of his reputation as a military and political warrior, however, the most characteristic struggle of his presidency was financial. As president, he waged a “war” against the Bank of the United States.

The Bank War “Unless ... President Andrew Jackson to John Coffee, February 19, 1832. Congress established the First Bank of the United States in 1791 to serve as a repository for Federal funds. Its charter expired in 1811, but in 1816 Congress created a Second Bank of the United States with a charter set to expire in 1836.

Date: 1832. President Jackson distrusted monopolies and big businesses, and was against the Bank of the United States. Jackson thought of the bank as a monster because it was almost like a branch of government: principal depository for the funds of the Washington government, controlled much of nation's gold and silver, its notes were stable in value, and the bank was a part of the nation's ...

Andrew Jackson and the Bank War | Introduction | Introduction When Alexander Hamilton called for a Bank of the United States in his Report on a National Bank, he envisioned a central bank that would sustain a developing national economy. The bank would, through the creation of bank "notes," replace some of the gold and silver money in circulation.

(9) During the campaign of 1828, Jackson spoke out against the economic corruption caused by the Bank and President Adams. Jackson's election set up a war with Biddle over the future of the second Bank of the United States. There were only seven years remaining in the charter of the second Bank when Jackson came to office.

As president, Jackson actively worked against the Second Bank of the United States and vetoed the Bank Recharter Bill in 1832, which ultimately led to the Bank War of 1832.

Howard Kitell discussed the "Bank War" during Andrew Jackson's presidency, including its background, outcome, and legacy.

A visiting Frenchman observed that Jackson had “declared a war to the death against the Bank,” attacking it “in the same cut-and-thrust style” with which he had once fought the Indians and the British. For Jackson, the struggle was a personal crisis. “The Bank is trying to kill me,” he told Martin Van Buren, “but I will kill it!” 22

Andrew Jackson’s presidential victory over Henry Clay in 1832 led him to believe that the people had given him a mandate concerning immediate destruction of the Bank. Though its charter would not run out until 1836, in 1833 Jackson ordered Secretary of Treasury Roger B. Taney to methodically remove all federal funds from the Bank by using ...

Jackson’s veto message argued against the concentration of power in the hands of a few wealthy individuals and foreign stockholders. ... (Bank War). Conclusion. Andrew Jackson’s veto of the bank bill in 1832 had far-reaching consequences. It sparked a political and constitutional battle, challenged the power of the Bank of the United States ...