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Dec 15, 2009 · The Bank War was the political struggle that ensued over the fate of the Second Bank of the United States during the presidency of Andrew Jackson.In 1832, Jackson vetoed a bill to recharter the ...
- 4 min
Nicholas Biddle. Bank War, in U.S. history, the struggle between President Andrew Jackson and Nicholas Biddle, president of the Bank of the United States, over the continued existence of the only national banking institution in the nation during the second quarter of the 19th century. The first Bank of the United States, chartered in 1791 over ...
- The Editors of Encyclopaedia Britannica
The Bank War was a political struggle that developed over the issue of rechartering the Second Bank of the United States (B.U.S.) during the presidency of Andrew Jackson (1829–1837). The affair resulted in the shutdown of the Bank and its replacement by state banks. The Second Bank of the United States was established as a private ...
- 1832–1836
Jun 24, 2021 · That crisis was the latest reverberation of Andrew Jackson’s ongoing war against the Second Bank of the United States. The Bank, whose main branch was on Chestnut Street in Philadelphia, had opened its doors in 1816, five years after the discontinuation of its predecessor.
- Nancy Tappan
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Facing financial woes and inflation accompanying the War of 1812, Congress sought to revive the central bank. As the charter for the Second Bank of the United States was patterned after the first, it faced the same strenuous scrutiny and a long and difficult fight. Finally, in 1816, economic instability facilitated its recharter for twenty years.
The War Against the Bank. Jackson's actions with regards to the Second Bank of the United States resulted in his censure by Congress for abuse of power. This cartoon depicts Henry Clay sewing Jackson's mouth shut. You are a den of vipers and thieves. I intend to rout you out, and by the eternal God, I will rout you out.
In 1818, now a war hero and major public figure thanks to his heroic campaign in New Orleans during the War of 1812, the Second Bank of the US repeatedly refused to loan money to Jackson, leaving him with a bitter distrust of the banking system. Wikimedia Commons. With the Panic of 1819, Jackson was quick to blame the Bank, and he was not alone.
