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2nd Bank in 1816
The second bank of the United States was created which was very similar to the previous bank. It was chartered for 20 years. The creation of this bank had angered President Andrew Jackson. He thought it was unconstitutional and dangerous. This had started te beginning of the bank wars against the bank president Nicholas Biddle. -
Early renewing of banks charter
Henry Clay a senator tried convincing the president of the banks Nicholas Biddle to renew the second bank's charter early hoping that Jackson would recharter it before the election if Congress passed it. They then passed it to Congress, which allowed it, and stated that the charter would be extended another 15 years. -
Jacksons veto
A bill suggested by Nicholas Biddle and allowed by Congress was then passed to President Jackson who vetoed the bill of recharting the second bank. He sent it back unsigned with a message stating his veto. He said the bank was unauthorized by the constitution and dangerous to the rights of the people and the states. He emphasized the idea that it benefited the higher-class people and was unfair to the farmers, mechanics, and laborers. -
election of 1840
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Jackson re elected
The presidential election was between senator henry clay. Andrew Jackson had won the election. He then had announced