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1832 Bank Recharter Bill
Jackson vetoed the bill that rechartered the Second Bank because he believed it to be unconstitutional. -
Jackson's Vetoes
Jackson had a total of 12 vetoes that he used. Around 1832 is when he vetoed the tariff laws. -
Election of 1832
The election was between Andrew Jackson and Henry Clay. This was the first election where candidates were nominated in conventions. Jackson's main proposal was to get rid of the United States Bank. -
Biddle Response
Nicholas Biddle disagreed with Jackson about getting rid of the bank. In response to this, he began to make efforts towards rechartering the bank which was passed, but then vetoed by Jackson. -
Jackson Removes Federal Deposits
After Jackson removed the Second Bank of the United States, he removed the federal deposits from the bank which was allowed by the charter. -
Jackson's Pet Banks
This was state banks receiving federal money as an attempt for Jackson to get rid of the United States Bank. -
Speculative Boom
The state banks were doing financially well and were therefore going a little crazy lending their money because they believed they would keep making profits. However, this caused a crash called the Panic of 1837. -
Specie Circular
This was an executive order by Jackson which required gold and silver to be paid for government land. -
Crash of 1837
Also called the Panic of 1837, this was a financial crisis caused by the fact that the banks ran out of money because they could not afford to pay with silver and gold all the time.
