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it's DANIEL for his hard work in the Getting Started unit

News You Can Use - Andrew Jackson's presidency

  • Jackson resented the bank's lack of funding for expansion into the unsettled Western territories.
  • Jackson also objected to the bank's unusual political and economic power and to the lack of congressional oversight over its business dealings.
  • Jackson called for an investigation into the bank's policies and political agenda as soon as he settled in to the White House in March 1829.
  • To Jackson, the bank symbolized how a privileged class of businessmen oppressed the will of the common people of America.
  • He made clear that he planned to challenge the constitutionality of the bank, much to the horror of its supporters.
  • Jackson removed all federal funds from the Second Bank of the U.S., redistributing them to various state banks, which were popularly known as "pet banks."
  • Finally, Jackson had succeeded in destroying the bank; its charter officially expired in 1836.