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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 ...

The Bank War was the political struggle that ensued over the fate of the Second Bank of the United States during the presidency of Andrew Jackson. In 1832, Jackson vetoed a bill to recharter the ...

In the end, Jackson won with 54 percent of the popular vote compared to Clay’s 38 percent, a victory which at last doomed the Bank. Jackson had taken the risk of making the Bank issue a litmus test in the Democratic Party, forcing voters to choose between him or the Bank, and he had clearly won.

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.

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. ... The Whig Party had grown partly out of the political coalition of John Quincy Adams and Henry Clay. The National Republicans, a loose ...

But Jackson’s supporters praised him. Pro-Jackson newspaper editors wrote that he had kept a “monied aristocracy” from conquering the people. By giving President Jackson a vivid way to defy the rich and powerful, or at least appear to do so, the Bank War gave his supporters a specific “democratic” idea to rally around.

Understanding Jackson's Bank War is critical to our future. He was absolutely correct insofar following the Jeffersonian view, that a national debt would not ... The Whig leaders also had nominated John Tyler (1790-1862) as Vice-President because of his views against the subtreasury act. However, after Harrison died and Tyler became president ...

Figure 10.10 In General Jackson Slaying the Many Headed Monster (1836), the artist, Henry R. Robinson, depicts President Jackson using a cane marked “Veto” to battle a many-headed snake representing state banks, which supported the national bank. Battling alongside Martin Van Buren and Jack Downing, Jackson addresses the largest head, that of Nicholas Biddle, the director of the national ...

Bank also gained enemies in the West by foreclosing on farms. Profit was their main objective. The Bank War erupted in 1832, when Daniel Webster and Henry Clay presented Congress a bill to renew charter of the Bank of the United States (they wanted to make it an election issue). If Jackson signed for the bank, he would lose his western followers.

Jackson’s veto was only one part of the war on the “monster bank.” In 1833, the president removed the deposits from the national bank and placed them in state banks. Biddle, the bank’s director, retaliated by restricting loans to the state banks, resulting in a reduction of the money supply.

Jackson’s veto was only one part of the war on the “monster bank.” In 1833, the president removed the deposits from the national bank and placed them in state banks. Biddle, the bank’s director, retaliated by restricting loans to the state banks, resulting in a reduction of the money supply.

Documents. President Jackson’s Bank Veto Message, July 10, 1832, Veto Message from the President of the United States, Returning the Bank Bill, with His Objections, &c., Herald Office, Washington DC Daniel Webster, Reply to Jackson’s Bank Veto Message, July 11, 1832, in the Register of Debates in Congress, Comprising the Leading Debates and Incidents of the First Session of the Twenty ...

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 (1767-1845) was the nation's seventh president (1829-1837) and became America’s most influential–and polarizing–political figure during the 1820s and 1830s. For some, his ...

The "Rhea letter" was an early 19th-century political controversy of the United States stemming from the First Seminole War and the contingent annexation of Florida. The controversy involves four (or rather three) key documents: the "Jackson January letter" sent by U.S. Army general Andrew Jackson to President James Monroe in January 1818, with its later annotation that the "Rhea letter" had ...

John J. Hinchcliff, agent in charge of the FBI's Phoenix office, took personal charge of the investigation in Tucson, which involved pursuit of undisclosed leads and interviews with bank personnel.

The amount hurt the bank, making it unstable, making them shut down. In the 1830s, the Second Two-Party System began. The two parties were Jackson the Democratic Party and the Whig Party with Adams and Clay. President Jackson and his. supporters believed in the small Government that large Governments are nothing less than a breeding place for evil.

Jackson’s veto was only one part of the war on the “monster bank.” In 1833, the president removed the deposits from the national bank and placed them in state banks. Biddle, the bank’s director, retaliated by restricting loans to the state banks, resulting in a reduction of the money supply.