Jackson Dbq Analysis

Another reason why Andrew Jackson’s presidency was different was because of his attack on the Bank of the United States. In 1832, Andrew Jackson vetoed the bill to recharter the bank. Jackson believed the bank had an unfair advantage over the other banks. The national bank would get all the federal tax revenues instead of the state or private banks. Also the bank’s president, Nicholas Biddle would extend loans to the men in the congress at lower rates of interest than he would do to regular people. Because Jackson thought the bank was unjust he took away its federal charter and the bank became a state bank. Jackson appointed a secretary of treasury after his reelection in 1832. The secretary of treasury placed all government funds in certain state banks, otherwise known as the pet banks. The national bank became the Philadelphia bank for a while until it went out of business.

He pleaded Henry Clay, an old friend, to draft a solution with him. Clay developed a compromise proposal, which lowered the high tariffs by ten percent over eight years. The Compromise Tariff of 1833 barely passed through Congress, but it significantly changed the tariff. These new rates were not nearly as low as the Southerners had hoped they would be, but it was a better compromise than the Force Bill had offered. South Carolina’s legislature voted to recede their efforts to nullify the tariff acts, but they did attempt to nullify the Force Bill. Even though their nullification of the Force Bill was insignificant, it allowed South Carolina to feel slightly victorious.

When Senator Henry Clay sided with Nicholas Biddle, the president of the Bank, and encouraged him to renew his charter four years earlier. Since Clay was also running for president that year he believed that Jackson had chosen the “unpopular side” and that a “congressional endorsement of the Bank would embarrass or even discredit the president” (Brands 260). Jackson portrayed Biddle as an enemy of the people and made it his personal mission to destroy the Bank personifying it as a “monster corporation”. In the North they favored the Bank because they had strong banking institutions due to industrial economy. Meanwhile, the South did not have much need for the Bank because they were mainly an agricultural economy which meant large amounts of cash were uncommon. In the West, the land was mostly new territory with economies not as developed; therefore they wanted paper money because getting a loan was easier. However altogether, Jackson’s first move was to veto the Bank bill; he viewed this as his mandate for reelection. In the end, Old Hickory’s popularity won the election and he bulldozed right through Henry Clay locking onto his next target, Biddle’s bank. Even with four years left on the Bank’s charter, Jackson could not wait four years for it to expire. Impatiently, Jackson ordered his secretary of the treasury to remove federal deposits from Biddle’s Bank. Although Jackson had wanted to keep the money in a public bank, he never ironed out the details, so they went to state banks instead. In the end, the Bank never regained its

President Jackson acted undemocratically because of his actions against the national bank. On July 10th, 1832, Jackson sent a bank veto message to congress. The message was sent to remove the US National Bank because it was only helpful for a wealthier class for things like investments. Citizens from wealthier classes were outraged by Jackson’s actions. Former senator Daniel Webster replied to Jackson message saying, “It manifestly seeks to

In his veto message, Jackson wrote, "It is to be regretted that rich and powerful too often bend the acts of government to their selfish purposes." This was true, since the bank was used to provide for the interests of the rich and not the common men such as the small farmers and urban workers.

Everyone was hoping Andrew Jackson would lower tariffs once he became president. When Andrew Jackson did not address tariffs South Carolina decided to take charge. A convention place in South Carolina in 1832. It ruled that the tariffs of 1828 and and 1832 were unconstitutional and not enforceable in South Carolina after February 1, 1833. Just before this date Andrew Jackson created a force bill that allowed him to use military forces against South Carolina. He then created a new negotiated tariff for South Carolina, which was passed by congress.

Although Jackson was a hard money supporter, he was sensitive to his many soft money supporters, and made it clear that he would object to renewing the charter of the Bank of the United States, which was due to expire in 1836. When Jackson could not legally abolish the Bank of the United States before the expiration of its charter, he weakened it by removing the government’s deposits from the bank. Jackson fired two of his secretary of treasury when they refused to carry out the order because they believed that such an action would destabilize the financial system. Jackson got Roger Taney to carry out his order. Taney took the deposits out of the Bank of the

Nicholas Biddle proved great opposition to President Jackson. He wanted to re-charter the National Bank; however, many people were against Biddle’s decision. This was particularly true of people in the west. They were still wary of a national bank, after the Panic of 1819, which involved mishaps in land speculation. Jackson shared the predominately western opinion that several small banks would be a better service to the nation than one, large bank would. A major problem with a national bank would lie in it’s willingness only to make loans to the wealthy. This would be of no use to the middleclass. Jackson would not allow Biddle to gain any more power than he already had.

In addition to creating a more democratic country, Jackson also tried to establish equal economic opportunity for the people of America. The best example of this is the vetoing of the charter of the Bank of the United States. The bank was a huge monopoly. It was ran by aristocrats, most of which were from England. Nicholas Biddle, who was the president of the bank, often used funds from the bank to lend money to the members of Congress, thus wining their support.

Jackson resented banks because he was a man who came from a family of poor farmers who paid with goods and crops. He saw banks as only useful to the wealthy, so when Henry Clay proposed “The Bank Bill”, which was in favor of the recharter, Jackson vetoed it. Andrew Jackson only thought about himself, and people who were like him, poor farmers. In total, vetoed twelve bills during his presidency, which was more than all of the preceding presidents combined. Again, Jackson set his mind to do something, and it was done.

With the Jackson administration into office, the Second Bank of the United States became threatened. President Jackson had a private prejudice that wasn’t party policy (Schlesinger 74). He hated banks, all banks, but he especially hated the Second Bank of the United States. He viewed all bankers as “little more than parasites who preyed upon the poor and honest working people of America” (Roughshod 2). The reason for his hatred most likely stemmed from his near ruin as a businessman (land speculator, merchant, and slaver trader) when in the 1790s he accepted some bank notes that turned out to be worthless. From then on, he never trusted anything but hard money, or specie (Roughshod 2).

Andrew Jackson felt that the national bank was created for the point that it would benefit the wealthy and since Jackson was for the common man he hated this system. Jackson wanted to best support the common man and eliminating the national bank would be the solution. This also introduced the implied power, known as a veto. Jackson used this veto power to stop the funding for the for the national bank which eventually forced it to close. This showed that Jackson was willing to take any measures possible to make it the most fair for the common man and decrease the benefits for the

What was Andrew Jackson’s problem with the 2nd U.S. Bank? At first he was concerned with the Bank’s constitutionality but it eventually evolved into a quest to kill the Bank. When the Bank first started out it was given $35,000,000 and by the time Andrew Jackson became President the Bank was run by Nicholas Biddle. Daniel Webster and Henry Clay had to file for the Bank to be chartered again. When Andrew Jackson heard this he said to his Vice President “The Bank is trying to kill me sir, but I shall kill it!” (Andrew Jackson) His reasons behind his hate for the bank were a combination of his past financial problems, his Tennessee roots and his view on states’ rights. For letting his past experiences get the better of him he

South Carolina was upset about the tariff so when Congress increased the tariff in 1828,Calhoun published the South Carolina Exposition and Protest. This exposition introduced the idea of state’s nullification of laws and took ideas of nullification from Jefferson’s Virginia and Kentucky Resolutions. Later in 1832 when Congress increased the tariff higher again, South Carolina called for nullification of the tariffs of 1828-1832 by declaring them null and void. Based on Calhoun’s nullification theory Congress could either repeal the law or modify it by making an amendment to make the law constitutional. If the amendment was accepted, the state would either have to abide by the new law or secede.

The Bank of the United States was technically the second bank of the U.S. since the first bank’s charter ended in 1811. The second bank held a monopoly over federal deposits, provided credit to growing enterprises, issued banknotes that served as a dependable medium of exchange, and used a restraining effect on the less well-managed state banks. Jackson didn’t trust the bank and thought it had too much power, so Jackson sought out to destroy it. There were two different groups when it came to opposition, “soft-money” and “hard-money”. Soft money supporters were progressive, they believed in economic growth and bank speculation. They supported the use of paper money and were mainly made up of bankers and allies to bankers. Hard money supporters were against expansion and bank speculation. They supported coinage only and rejected all banks that used paper money, which included the federal bank. Jackson was a hard money supporter although, he felt sympathy to the soft money supporters. Jackson could not legally end the bank before its charter expired. By removing the