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Charter of the 2nd Bank of the United States.
In 1816, the Second Bank of the United States was established to stabilize the national economy after financial difficulties following the 1812 War. It operated for 20 years, regulating monetary supply and providing credit to the government and other financial institutions. However, it generated controversy and opposition, culminating in the "Batalla del Banco" during Andrew Jackson's presidency. -
MCCulloch v. Maryland.
McCulloch v. Maryland strengthened federal government power, established constitutional interpretation precedents, and reaffirmed federal laws' supremacy over state laws, reinforcing American federalism's fundamental principle. -
Presidential election
The 1828 US presidential election saw Andrew Jackson win, gaining 56% of the popular vote and 178 electoral votes. This victory marked the beginning of the "Jacksoniana" era, which saw greater democratization of American politics, the expansion of slavery to all white adults, and significant changes in economic and social policies. The election was seen as a point of inflexion, consolidating the bipartidist system in the United States. -
Re-charter of the 2nd Bank
In 1832, the Second Bank of the United States was renewed, a crucial issue in American politics and Andrew Jackson's presidency. Established in 1816, it regulated monetary supply, stabilized the economy, and served as a depositary for federal funds. Congress approved the renewal bill, prompting Jackson to campaign against it. Despite winning the election, the bank's debilitation and subsequent actions contributed to the Panic of 1837. -
Removal of government deposits
In 1833, Andrew Jackson removed the federal debts of the Second Bank of the United States, citing its corruption and dangerous concentration of power. He ordered William Duane to redistribute the debts into state banks, known as "bancos mascotas." Jackson resigned, appointed Roger B. Taney as Secretary of the Treasury, and the decision led to financial instability and the end of American banking policy. -
Censure of president Jackson
In 1834, the US Senate approved a censura against President Andrew Jackson due to his actions regarding the Second Bank and withdrawing federal depósitos. Opponents argued Jackson's actions were an abuse of executive power. The Senado, controlled by Whigs, declared Jackson as having assumed powers not conferred by the Constitution and laws. Jackson defended his actions and the censura was officially eliminated in 1837, symbolizing his victory. -
Assassination attempt on President Jackson
On January 30, 1835, Andrew Jackson was the first US president to be assassinated by desempled painter Richard Lawrence. Despite being 67 years old, Jackson reacted aggressively, using his bastón to grope Lawrence. Lawrence was arrested and convicted of murder, and Jackson spent his life in mental institutions. The incident emphasized Jackson's strength and courage. -
Expiration 2nd Bank charter
The Second Bank of the United States, established in 1816, was closed in 1836, marking the end of a controversial financial institution during Andrew Jackson's presidency. The bank was seen as favoring the rich and exercising excessive power. Jackson's opposition led to the "Batalla del Banco," which resulted in financial instability, state bank expansion, and centralized monetary policy. The struggle strengthened Jackson's image and the Democratic Party. -
Panic of 1837
The Panic of 1837 was a significant financial crisis in the United States during Martin Van Buren's presidency. Causes included a speculative land bubble burst, agricultural price decline, overexpansion of credit and banking, and reduced government spending. The crisis led to widespread bank failures, business failures, unemployment, and a prolonged economic contraction. The crisis impacted the US economy and banking system, influencing banking and economic policy changes. -
Free Bank law
The Free Banking Law of 1838, passed during Martin Van Buren's presidency, aimed to promote banking competition and accessibility by allowing banks to operate without state or federal charters. It allowed banks to issue their own banknotes, maintain minimum reserves, and prohibit issuing notes below a certain denomination. -
Presidential election
The 1840 presidential election saw William Henry Harrison win the election, becoming the first Whig Party candidate. Harrison's victory marked a shift in power from the Democratic Party to the Whig Party, and his campaign focused on military heroism. His presidency was brief, with Harrison dying just one month after taking office. Notable events included the famous slogan "Tippecanoe and Tyler too" and his running mate, John Tyler, becoming president after his death. -
Establishment of independent Treasury System
The Independent Treasury System, established in 1840, aimed to separate government funds from the banking system, prevent private banking interests, and reduce bank failures and economic instability. Key features included separate treasury accounts and Treasury notes for government operations. This system reduced bank failures, increased government control, stabilized the currency, and influenced future financial systems.