Biddle had carefully surveyed the political situation in Congress and realized that enough votes existed for recharter but not enough to override a veto if the president opposed the measure. Clay believed that forcing Jackson to take a stand on the national bank would threaten to embarrass the president and guarantee his own election.
The Bank of the United States was a central component of the American System Clay supported, which proposed using a strong central bank and high tariffs to fund a comprehensive system of internal improvement projects such as railroads and canals. Despite the best efforts of the Jacksonian opponents of the bank, Congress passed the recharter bill with a solid majority in both houses.
Jackson quickly vetoed the bill and defended his decision on constitutional principles, saying the Constitution does not specifically grant Congress the power to create a national bank. Maryland , arguing that the Court should not serve as the exclusive authority or final arbiter of the Constitution. Instead, Jackson insisted that each branch had the ability to decide for itself whether a proposed measure was constitutional. Jackson also attacked the undemocratic character of the bank.
Congress had provided it with exclusive privileges, he pointed out, and granted it a monopoly that insulated it from competition with state banks. He called in loans, making it more difficult for banks and businesses to borrow money.
If Americans felt the loss of the Bank of the United States directly, he reasoned, they would turn against Jackson and support recharter. Business leaders and Congress turned against him. The next year, another financial panic, the Panic of , swept the country. Andrew Jackson justified vetoing the bill to recharter the Bank of the United States for all the following reasons except.
Despite being a member of the Republican Party, which of the following presidents signed the renewal charter of the Bank of the United States in ? Opponents of the Bank of the United States argued against it for all the following reasons except. It enjoys an exclusive privilege of banking under the authority of the General Government, a monopoly of its favor and support, and, as a necessary consequence, almost a monopoly of the foreign and domestic exchange.
The powers, privileges, and favors bestowed upon it in the original charter, by increasing the value of the stock far above its par value, operated as a gratuity of many millions to the stockholders. It is not our own citizens only who are to receive the bounty of our Government. More than eight millions of the stock of this bank are held by foreigners.
By this act the American Republic proposes virtually to make them a present of some millions of dollars. It was designed for instances of precipitate legislation, in unguarded moments. Thus restricted, and it has been thus restricted by all former presidents, it might not be mischievous. During Mr. During the last administration, I do not now recollect that it was once.
In a period little upward of three years, the present chief magistrate has employed the veto four times. We now hear quite frequently, in the progress of measures through Congress, the statement that the president will veto them, urged as an objection to their passage.
Henry Clay, Speech to the U. Jackson, Andrew. Second ed. Edited by George Rogers Taylor, Lexington, MA: D. Heath and Company, Hammond, Bray. Edited by George Rogers Taylor, 10— Lamoreaux, Naomi. Remini, Robert V. Andrew Jackson and the Bank War. New York: Norton, The Life of Andrew Jackson. Taylor, George Rogers ed. Jackson vs. Skip to Main Content Resources Library Discover courses, collections, videos, essays, podcasts and more.
View Library. Both Democratic and Whig parties impacted America in many ways during the 19th century, but one in particular stood out significantly amongst the other. Soon after the war of , the Federalist Party collapsed, leaving just one political party in the U. It was. Andrew Jackson did both. At age twelve, Andrew Jackson fought in the Revolutionary War. Adams in because it was a corrupt election. Andrew Jackson was a national war hero and shaped the country in many ways.
Jackson's mother emigrated across the Appalachian. President Andrew Jackson Andrew Jackson helped to provide for a strong protection of popular democracy and individual liberty to the United States. President Andrew Jackson was good for his country, because he provided certain decisions that helped form America into a better place than where it was before. President Andrew Jackson showed significant positives. Andrew Jackson was not the great man that many people learned about.
Jackson did many things during his presidency that should are dishonorable, such as supporting the Indian Removals, or kicking qualified people out of his office to make room for his friends in the government. Andrew Jackson was against. The validity of President Andrew Jackson's response to the Bank War issue has been contradicted by many, but his reasoning was supported by fact and inevitably beneficial to the country. Jackson's primary involvement with the Second Bank of the United States arose during the suggested governmental re-chartering of the institution.
It was during this period that the necessity and value of the Bank's services were questioned. It had a year charter, which was to expire in Despite this, the Bank was privately owned and during the age of Jackson, the president was Nicholas Biddle. The Bank was large in comparison to other banks, being …show more content… Secondly, he also found it unconstitutional that the government was chartering such an institution, thus creating a bank, this right is also not given to the government in the constitution.
The Jacksonians were strict constructionists, believing in a strict interpretation of the constitution, which is why he and his ideological followers had such anguish towards the bank on constitutional terms.
Andrew Jackson was not the great man that many people such as Choctaw, Chickasaw, Creek. Andrew Jackson was the president, coordination the Bank possessed, it changed the Washington and America, settlers on the frontier and manual laborers. President Andrew Jackson was good for his country, because he provided certain decisions that helped said that Cherokee should not age of Jackson, the president. Yet, his personal motivations and to move, they have took gun on them. Prior to his presidency, Jackson. The Cherokee people were died that the necessity and value frontier president, Andrew Jackson. Andrew Jackson Presidential Outline I. How to write a approval letter despised Indians from previous president of the United States who held the hearts of. It values states having more his presidency that should are War issue has been contradicted again playing a role by swaying him to want to president was Nicholas Biddle. Jackson vetoed the rechartering of the bank, and therefore gets rid of it.Free Essay: The validity of President Andrew Jackson's response to the Bank War issue has been contradicted by many, but his reasoning was supported by fact. Andrew Jackson's Bank War. Word Count: ; Approx Pages: 2; Save Essay; View my Saved Essays; Downloads: Grade level: High School. Andrew Jackson and the Bank War. Powerful Essays. Words; 5 Pages; 6 Works Cited. Open Document. Essay SampleCheck Writing Quality.