Andrew Jackson and His Financial Policies

Topics: United States Constitution, Government, United States Pages: 4 (1294 words) Published: January 4, 2014

1.In his veto message, Jackson did not question the ability of the bank to regulate currency and credit. What public policy objectives does his message attempt to advance? Jackson is saying that much too often the rich and powerful too often bend the acts of government to their selfish purposes. And that this bank does not permit competition in its monopoly, it is a monster to society. As well as advancing the fact or belief that some of the powers and privileges possessed by the existing bank were unauthorized by the constitution, and are dangerous to the liberties of the people. As well as the fact that the bank is too often bent to the will of the rich and selfish individuals. 2. Despite the Supreme Court’s decision in McCulloch V. Maryland, Jackson insisted in his veto message that some of the “powers and privileges possessed by the existing bank are unauthorized by the Constitution” What reasons does he give for that judgment? Jackson says that the bank does not permit competition in its “Monopoly” he also says the bank believes that stockholders have the right to decisions in the bank more than the federal government. With this institution gone other people not now stockholders may be opened into the “door” of competition and may be offered charters and loans on more reasonable government terms. 3. What did the “humbler members of society” rightly complain about, in Jackson’s view? The Humbler members of society complain about injustice of their government, because they have no means of securing favors for themselves, Jackson says that there are no evils in government there are only evils in their abuses. It would not provide equality. 1. How does Leggett define a monopoly?

William Leggett describes a monopoly as all corporations liable to the obligation that whatever powers given to them may not be taken away, even though doing so is a clear invasion of the grand republican principle of equal rights. 2. In Leggett’s view, why do banks...
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