Nicholas Biddle (January 8, 1786 – February 27, 1844) was an American financier who served as the third and last president of the Second Bank of the United States (chartered 1816–1836). [1] ... The Bank War: Andrew Jackson, Nicholas Biddle, and the Fight for American Finance. Yardley, PA: Westholme.
“Nicholas Biddle & Andrew Jackson in the Case of the Strangled Bank.” Financial History, Issue 65 (1999). Related Articles. See All Articles. 19th Century. How Did Billy the Kid Die?
Nicholas Biddle (born Jan. 8, 1786, Philadelphia—died Feb. 27, 1844, Philadelphia) was a financier who as president of the Second Bank of the United States (1823–36) made it the first effective central bank in U.S. history. He was Pres. Andrew Jackson’s chief antagonist in a conflict (1832–36) that resulted in termination of the bank. Biddle was a contributor to and later (1812) editor ...
Nicholas Biddle (1786—1844) was a banker, author, financial theorist, editor, diplomat, and politician most famous for opposing President Andrew Jackson during the “ Bank War.” He served as president of the Second Bank of the United States (BUS) from 1823 to 1839.
In 1832, President Andrew Jackson triggered the demise of America's second central bank with a stroke of his veto pen. ... After this initial instability, prominent Pennsylvania financier and politician Nicholas Biddle took over as president of the bank in 1823 and ushered in a sustained period of tremendous stability and growth. By 1828, it ...
Although the Bank charter ran through 1836, anti-Jackson politicians persuaded Bank President Nicholas Biddle to petition for an early re-charter prior to the election of 1832. The charter passed both houses of Congress, but one week later, on July 10, 1832, Jackson issued his veto message, one of the most important documents of his presidency ...
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.
For Jackson and his followers, the symbol of this `monied aristocracy' was the Second Bank of the United States and its president, the aristocratic and sophisticated Nicholas Biddle." 35 Jackson biographer David S. Reynolds wrote: "Jackson viewed the BUS as a fountain head of the evils that he thought came from aristocratic privilege and ...
At the time Jackson became President in 1828, the Bank of the United States was ably run by Nicholas Biddle, a Philadelphian. But Biddle was more an astute businessman than politician. His underestimation of the power of a strong and popular President caused his downfall and the demise of the financial institution he commanded.
Anger towards the Bank was once again on the rise, and one man knew how to use it: Andrew Jackson. The General and The Banker ... Nicholas Biddle, to the presidency of the Bank. Though he would quickly restore order to the Bank and bring stability to American finance, he also would also be the Bank’s last president and the man who would lead ...
In Jackson's first State of the Union Address, he made a very measured and moderate statement regarding Nicholas Biddle's Bank. Jackson said it was too soon to consider any proposals to renew the Bank's 20-year charter. In 1829, one could hardly call it a war against the Bank, but perhaps it was a smoke signal to its opponents.
In The Bank War: Andrew Jackson, Nicholas Biddle, and the Fight for American Finance, historian Paul Kahan explores one of the most important and dramatic events in American political and economic history, from the idea of centralized banking and the First Bank of the United States to Jackson’s triumph, the era of “free banking,” and the ...
The Second National Bank. Library of Congress. Conflict over renewing the charter of the Second Bank of the United States triggered the 1830s Bank War, waged between President Andrew Jackson (1767-1845) and bank president Nicholas Biddle (1786-1844).
Banks and governments have been fighting each other for hundreds of years, but never more dramatically than during the showdown between President Andrew Jackson and Nicholas Biddle, the president ...
Materials "Nicholas Biddle and Andrew Jackson in the Case of the Strangled Bank," by K.C. Tessendorf, Financial History, Fall 1998 (PDF) "The Panic of 1819: America's First Great Depression," by Clyde A. Haulman, Financial History, Winter 2010 (PDF); Remarks of Mr. Webster on the Removal of the Deposites and on the Subject of a National Bank Delivered in the Senate of the US, 1834 (PDF)
The bank president, Nicholas Biddle, fought with all his power to keep the bank open. He demanded that borrowers immediately repay their loans. Businesses struggled without the bank's assistance. Workers lost their jobs. Biddle blamed President Jackson for the financial panic. And critics of Jackson's bank policy called him "King Andrew the First."
In the late 1820s a titanic clash erupted between President Jackson and bank President Nicholas Biddle. On one side was Andrew Jackson, Old Hickory, and his supporters who claimed the Bank was a threat to the republic due to its economic power. State bankers felt the central bank's influence frustrated their ability to function.
