-
Bank War
Jackson opposed the Second Bank greatly, in 1833, the campaign began to destroy the Second Bank. Jackson's second term convinced him that his opposition to the bank had gained support of the entire nation. Previously, in 1832, Jackson had vetoed a bill that called for an early renewal of the Second Bank's charter, and planned to reduce the amount of economic power that the bank had. -
Democratic Party Convention
The Democratic Party Convention held the events of president nominations that were chosen for the Election of 1812. In this event, Jackson was nominated to run as President for the upcoming election. -
Election of 1832
The most known candidates that were shown in the Election of 1832 were famous candidates such as Henry Clay and Andrew Jackson. Jackson won the election due to how he won the most citizen votes and vetoed the recharter bill for the National Bank. -
Whig Party
The Whig Party was the political party that was established by Jackson's opponents. This political party was used to help run against Jackson in the next upcoming election, Henry Clay was the most famously known leader of this party. -
Treasury Secretary Search
In 1833, Jackson appointed William J. Duane as his Treasury Secretary. Jackson hoped that he could convince Duane to withdraw the federal deposits from the Second Bank of the country. Duane believed that the bank was unconstitutional, but recognized that the sudden removal of those federal funds would cause panic that would affect people aka the common man, resulting in the country falling into chaos, and claimed he did not have the authority to withdraw funds without the approval of Congress. -
Coinage Act of 1834
Jackson signed the Coinage Act which was a bill that granted his actions to further push gold and silver into becoming the dominant form of currency in the United States. The act raised the silver/gold ratio from 15:1 to 16:1 after 1792. -
Specie Circular Act
The Specie Circular Act was passed by Jackson in 1836 that resulted in land to be purchased with silver and gold. Jackson passed the act to hopefully decrease paper currency inflation, -
Panic of 1837
After the War of 1812, it was obvious that the United States was in need of a national bank to regulate money printing and issuing of government bonds. Since Jackson lost a great amount of money after invested his own money in a bank, he has always opposed the banks. The government allowed the bank to run for 20 years in 1816. Jackson was not for the idea of it ending in 1836, and in 1832, he ordered the withdrawal of the government funds, which equaled to around $10 million.
