Jackson and the Second National Bank

President Jackson's Veto

1832

Jackson vetoed the bill for the second national bank because he thought it was threatening the peoples rights and thought it was unconstitutional.

Bank Recharter Bill

Jan 9, 1832

After the First National bank's charter expired in 1811 the congress proposed a renewal in 1832 for the second National Bank. The North was for it and the south was against it and The president was against it so he vetoed it.

Election of 1832

Dec 5, 1832

Andrew Jackson won against Henry Clay.

President Jackson Removes Federal Deposits

Sep 10, 1833

Jackson took all the money and funding from the bank and split it up between the state banks to help the regular people and get rid of the federal bank.

Biddle's Response to the Pet Banks

Sep 25, 1833

(Nicholas) Biddle disagreed with Jackson's thoughts of the Second National bank and blamed all oft he financial problems on the president.

Specie Circular

Jul 11, 1836

Executive order by Jackson requiring payment for land owned by government in gold and silver not paper money. He was trying to stop the banks from giving out loans.