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Jackson vetos renewal of the 2nd B.U.S.
Jackson vetoed a bill that would renew the 2nd B.U.S. -
Jackson orders the pulling of government funds from the 2nd B.U.S. to be deposited in state "pet banks"
Jackson in an attempt to destroy the 2nd B.U.S. pulled all federal money and deposited it into state banks -
Nicholas Biddle demanded that all old loand be paid off and no new loans
Biddle, trying to save his bank, called in all loans and didnt issue any new loans. -
Jackson censured by senate for putting federal funds in state banks
In 1833 the senate demanded Jackson give all documents related to removing deposits from the bank. When Jackson refused, Henry Clay issued a censure resolution. -
Specie Circular
A law passesd that said gold and silver must be used to buy land -
State banks begin to only accept payment in specie
Jackson directed the treasury department and other recivers of public money to only accept gold and silver payments -
Banks run out of silver and gold
Most banks in th U.S. ran out of gold and silver and the federal government couldnt get its money. -
Martin Van Buren takes office
Martin van Buren was elected president in 1836 because of Jackson's popularity -
2nd bank of the United States officially closes and goes out of buisness
In 1836 the charter expired and it turned into a state bank. it whent bankrupt in 1841 -
William H. Harrison and the Whig party take control
William Henry Harrison takes office, but dies shortly after
