Andrew Jackson Dbq

Andrew Jackson wanted and even gave everyone equal economic opportunity by lessening monopoly with his bank veto. However, the financial panic of 1837 was caused by two of his plans, these include pet banks and Specie Circular. People in favor of the national bank proposed a renewal bill for the Second National Bank's charter. Jackson was not necessarily opposed to central banking as much as he was to the idea of the Second National Bank. By opposing the bill, the Second Bank expired and the US would be without an official bank for many years.

Andrew Jackson hated the national bank. The national bank had too much power, he had people spy on the bank and Jackson found out that when they gamble and lose they charge the bank. But when they win the all split it in evenly between them. So he said by the

Andrew Jackson hated the National Bank just like Thomas Jefferson however he took it to a whole other level. Jackson - “He believed that an economy built on credit was inherently unstable and a person who made his money through speculation rather than the production of something real—like a crop or a manufactured good—was less independent and less virtuous. He believed that an economy that rested on the circulation of paper—inflated bank notes, stock certificates, and bonds —was unstable and morally suspicious.” Jackson’s opposal and killing of the National Bank caused an economic depression within the States. The Panic of 189 - “Banks throughout the country were unable to make good on customers' claims for specie and were forced to close their doors.

Andrew Jackson is one of the reasons we have the world’s most trusting economic system. For instance, Jackson saved our country’s money by not allowing a second Bank Of The United States to be formed. On History.com “The war on the Second Bank of the United States and subsequent hard-money initiatives set the tone—an unyielding effort to remove the hands of a few wealthy, unelected private bankers from the levers

Internal Improvements and Protective Tariffs One of the main points of Henry Clay’s American System, the necessity of subsidies for internal improvements and protective tariffs, was a source of debate between Jackson and Clay. While in Senate Jackson voted for protective tariffs and internal improvement bills, but soon “became convinced that the internal improvement policies favored by his enemies were a species of corruption and an outrageous drain on the treasury” . When the Maysville Road project was proposed that would build a highway across Kentucky, Jackson was quick to veto the bill. He viewed the issue of the road as a local, not national issue, therefore making it unconstitutional. Clay, borrowing a line from Hamilton, argued the road was a national issue and cited the necessary and proper clause.

Even though Jackson did despise the bank, many of his ¨Jacksonians¨ supported the idea of a Second Bank. The bill eventually passed both the House and the Senate. President Jackson STILL vetoed the bill a week after it was passed. He explained heavily why he felt that he needed to veto the bill. This was one of the most important state papers of his entire presidency.

Andrew Jackson “The bank … is trying to kill me. But I will kill it!” (Appleby, 349). Andrew Jackson did not oppose central banking. Even though Jackson did some terrible things like removing the Indians to the west for more land, Jacksons Democracy also helped strengthen the U.S. Jackson should not be in the Presidential Hall of Fame for all he did to help strengthen the country, and fix corrupted banks.

Andrew Jackson was very against the growth of the new upcoming banking system in the

This made Andrew Jackson become president for another term, and he then killed the national bank by withdrawing all of the government deposits. In addition, Jackson had all the money be placed in the state banks, and then the national bank was gone. This is significant because this shows that the national bank, which a lot of people worked hard to support and create, was demolished just by Andrew Jackson. America needed this bank in order to make relations and negotiations with other countries. However, Andrew Jackson, the people’s president, chose to destroy it.

All his attacks caused brutal reactions of his political enemies and even claim that the president destroyed the national stability and the American economy. Regardless of all of the reactions, Jackson still remained remorseless and eventually vetoed the renewal of the Bank’s charter in 1832. Jackson intended to conclude,”Equality of talents, of education, or of wealth cannot be produced by human institutions”(Source 4). He believed that the rich and powerful are the only ones able to take advantage of the bank. Andrew Jackson wanted more benefits to the common people and get rid of the things that divided the elites and

The election of 1832, seemed to revolve around the issue of whether or not to keep the 2nd Bank of the United States with Henry Clay supporting the bank and Andrew Jackson opposing it. Jackson distrusted the bank after his huge financial loss when the first bank collapsed and the bank notes he had were bad. He also felt it had hindered the westward expansion. The location of it had seemed to favor the North and oppress the South by making it difficult for the people, who wanted to settle in the west, to have access to money. When he was elected president, he decided to get rid of the bank because he felt it was the reason his supporters, the common people, had voted him into office.

Above any principled concernsthe Bank became a political battle. So now you see the reasons why I admire Andrew Jackson is because he took down the second U.S. bank because he detested paper money and believed in keeping gold and silver. He also killed a man in a duel and carried a bullet in his chest for the rest of his life. All of these reasons are why Andrew Jackson is a inspiration

Jackson 's push to abolish national banks other wise known as "the bank wars" was one of his more well known pushes for small government. In 1832, Jackson had vetoed a bill calling for an early renewal of the Second Bank’s charter, but renewal was still possible when the charter expired

He mistrusted paper money greatly, as well as believed in power to the common people. Andrew Jackson feared the Bank’s power. He was afraid of the Bank becoming stronger and lending that power to the elite without holding accountability towards them, something he believed great powers should have; accountability. Jackson specifically stated that he believed the Bank made “the rich richer and the potent more powerful.” Jackson liked the so-called farmer’s economy since it motivated people to be hardworking and independent.

One of the biggest thing that Jackson had done as a president was in 1832. Jackson vetoed a bill that would renew the second bank charter early. Jackson stated “I will kill it!”. He said this because he didn’t like the bank at all and he believed that it made the rich richer and the poor poorer. He said in his veto message “It is easy to conceive that great evils to our country and its institutions might flow from such a concentration of power in the hands of a few men irresponsible to the people.”