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Jackson's Veto's
Andrew Jackson vetoed the bill to charter the second bank because he saw it as unfair and monopolistic. He ignored the Supreme court over this. -
1832 Bank Recharter Bill
Designed to recharter the the bill for the second bank, would later be vetoed by Andrew Jackson even though it was passed by congress. The bill favored northerners. This veto assisted in Jackson's reelection -
Election of 1832
12th ever presidential election, Andrew Jackson beat Henry Clay. Jackson won 219 of the 286 electoral votes which was an extreme win for the democratic party. -
Jackson Removes Federal Deposits
Many people suggested to Jackson to remove the deposits. Jackson listened and separated the government from the bank. Jackson removed the deposits, despite his entire cabinet's disapproval. -
Biddle's Response
Biddle was president of the BUS. He did not agree with Jackson's opinions on rechartering the bank so he formed a congressional committee on the topic. -
Jackson's Pet Banks
Pet banks were also called state banks, which Jackson agreed with more than a national bank. Pet banks were chosen based on the spoils system. This banking system did not succeed. -
Speculative Boom
Jackson's usage of pet banks lead people to believe an economic growth spurt would appear, it actually lead to the Panic of 1837 -
Specie Circular
The specie circular was an executive order given by Jackson which required government land to be payed for with physical gold and silver. -
Crash of 1837
Also called the Panic, this was a financial crisis where unemployment was high in the nation. It was all caused by both national and international relations.
