Jackson Biddle Dbq

The Second Bank of the United States was chartered for a term of 20 years in 1816. The Bank of the United States was a depository for national debts, and federal funds but it only answered to stockholders and not to the government.. The time limitation was put in place due to distrust of a private corporation for this reason among congress.
The idea of a central central bank was supported by those who were involved in commercial or industrial activities. These people wanted a stronger currency and the economy to be centrally controlled by the government. Over people like farmers distrusted the federal government and thought the government should not have that much control. The fate of the bank depending on who Jackson took the side of.
In 1828 Jackson became the president of the united states. Nicholas Biddle, a Philadelphia man ran the bank the Bank of the United States at that time. Biddle took more of an interest in business than in politics. Jackson had a distrust of banks because in his business career, he had been financially damaged by the tightening of bank credit and he retained this distrust of financial institutions. Jackson did not take action against the bank at first. His biggest concern was how sound the system of using paper money in place of gold and silver coins. He also was concerned with the
He used public attacks against the Bank in the press, in addition to using his presidential powers to veto the Bank rechartering bill. Jackson also oversaw the removal of the federal government's deposits removed from the Bank of the United States. He had these funds placed in state banks also called pet banks. Jackson had overwhelming support and he was elected to his second term in a landslide. Biddle attempted to spite the president and bring attention to the bank by making it much more difficult for people to get access to the money they wanted. The bank charter was allowed to expire in