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Andrew Jackson And The National Bank

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BC: | The American Vision | |

FC: created by: Lucian Waltz and Devin Grange | Andrew Jackson V.S. The National Bank

2: Jackson | a General in the war of 1812 the 7th president of the united states has a dislike for the national bank he didn't think it was good to have all the nations finances in one building and it also severed more for the rich than the common people | key players

3: The National Bank | the first bank was modeled after the bank of england was responsible for 20% of the currency in the USA the second bank was a big problem in the 1830's till Jackson stopped it

4: Important Events | the first bank was started in 1791 and ran till 1811 this bank was opposed by Thomas Jefferson and excepted by Alaxander Hamilton Then in the 1816 the bank started up agian and caused problems Jackson became president in 1828 and started to work against the bank Jackson viewed the bank as a monopoly and ended it in 1826

6: Causes | one reason for Jacksons hate was when he was young he owed quiet a bit of money A few others were that it was a monopoly was primarily for the rich it excersized to much control over members of congress and it favored northeastern states over the southern ones

8: Effects | Its role as the depository of the federal government's revenues made it a political target of banks chartered by the individual states the bank lowered the USA's credit and the amount it borrowed from other nations without the US bank regular banks started trying to fill its place in printing money which led to inflation the bank and Jackson created conflicts throughout their years

10: Scandals | There weren't any known scandals during this time

12: New Laws/Supreme Court Cases | McCulloch v. Maryland | Established the following two principles | 1.The Constitution grants to Congress implied powers for implementing the Constitution's express powers, in order to create a functional national government. 2.State action may not impede valid constitutional exercises of power by the Federal government. | The Case stated that Maryland could not tax the Bank constitutionally

14: Present Day Relations | The economic situations that developed during the use of the Second Bank of the United States lead to a trend in future developments

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  • Title: Andrew Jackson And The National Bank
  • Lucian Waltz and Devin Grange
  • Tags: None
  • Started: over 7 years ago
  • Updated: over 7 years ago