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Andrew jackson abuse of power
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War on national banks/economic decision: Jackson did not like the bank he said that the bank was unconstitutional Jackson hate on bank became a big issue in the presidential campaign of 1832 Henry Clay said that Andrew Jackson wanted to much power as the president When Andrew Jackson became president again he thought that that meant that the public approved his opinion on destroying the national bank on Andrew Jackson second term his goal was to destroy the bank before its charter ended in 1836 eventually the bank went out of business Jackson won the war but the economy was the victim. Andrew Jackson ended up getting rid of the National Bank and with the money that was in the bank he took it out and gave the money to a lot of smaller banks
However Jackson believed that the bank was unconstitutional. He was not very fond of the fact that the wealthy people in the country benefited from the bank, while the people in poverty did not. Like many other Americans at the time, Jackson strongly believed that the National Bank had too much power, however he also believed that the bank was bad for the economy which was not true. The National Bank strongly backed the United States economy. Many knew this, including Henry Clay, who knew that if the bank no longer existed the economy would soon fall apart.
Jackson 's push to abolish national banks other wise known as "the bank wars" was one of his more well known pushes for small government. In 1832, Jackson had vetoed a bill calling for an early renewal of the Second Bank’s charter, but renewal was still possible when the charter expired
Andrew Jackson was very against the growth of the new upcoming banking system in the
Henry Clay, who is going against Jackson, proposes the bill to bring the bank’s issues in the next election. BUT, in addition to opposing the idea of the Second Bank, Jackson gained more popularity. The Second Bank was created in the aftermath of the War of 1812. People had blamed that bank for the Panic in 1819 and Westerners/Southerners believed that the bank had only benefited the North. Though the bank could help with money supply, the bank still have opponents, which President Jackson is one of them.
A quote from the notes states, “Jackson questioned the legality of the bank and believed it was an unconstitutional extension of the power of
He mistrusted paper money greatly, as well as believed in power to the common people. Andrew Jackson feared the Bank’s power. He was afraid of the Bank becoming stronger and lending that power to the elite without holding accountability towards them, something he believed great powers should have; accountability. Jackson specifically stated that he believed the Bank made “the rich richer and the potent more powerful.” Jackson liked the so-called farmer’s economy since it motivated people to be hardworking and independent.
While the Bank of the United States created under Hamilton’s Federalist economic policy favored the wealthy New England elite, Andrew Jackson’s refusal to recharter the BUS in 1832 was not only personal in nature, but harmed the populace he claimed he was helping and representing, which resulted in economic downfall. Jackson was a strict constitutionalist who had a past with banks. Like many western Americans, he fell prey to land speculation and blamed banks for his economic woes and near imprisonment. He did not see the value in having a national bank due to his suspicion of its policies. His prejudice against the Bank led him to ignore the benefits the economy reaped as a result of the federal regulation of currency and credit.
As I understand Jackson's motivations against this bank is mainly because he didn't want the rich to get richer at the expense of the hardworking common men of the United States his actions ultimately led to a depression (the Panic of 1837) even though President Van Buren was blamed for it. This ultimately led the Whigs to win the Presidency in 1840 as Sean Wilentz says: “He successfully battled the
When the regular white miner reached the land, they were expecting to get half million dollars in gold, but they got less than five dollars a day from gold alone. The government would force the Indians off their land and sell it to the whites. The Indians would demand a treaty from the government, which the government would make, ignore, and force more land off the Indians. The Indians would once again demand a treaty, and the same results would happen. Andrew Jackson with a history of thinking that removing Indians form their native land and moving them away, even at gunpoint; eventually decided to sign the Indian Removal Act when he became president.
Thesis: Andrew Jackson should not be on the $20 bill. Topics: Jacksonian Democracy: Jacksonian Democracy meant a different way of viewing democracy. The whole democracy changed because of Major General Jackson. Major General Jackson changed what Democracy meant from what Jefferson thought it should mean.
All his attacks caused brutal reactions of his political enemies and even claim that the president destroyed the national stability and the American economy. Regardless of all of the reactions, Jackson still remained remorseless and eventually vetoed the renewal of the Bank’s charter in 1832. Jackson intended to conclude,”Equality of talents, of education, or of wealth cannot be produced by human institutions”(Source 4). He believed that the rich and powerful are the only ones able to take advantage of the bank. Andrew Jackson wanted more benefits to the common people and get rid of the things that divided the elites and
In the document “Jackson Battles the Bank”, it shows Jackson fighting off a monster, or the national bank, with a veto stick. Jackson was fighting to destroy the national bank. He wanted to do this because it favored the rich and not the common people. He was fighting for people to have equal rights. Instead of having no bank at all, he came up with the idea to create state banks which wouldn’t be as powerful as the National Bank.
In 1793 Timothy Pickering had a suggestion for how to prevent the extinction of the Native American population, by moving them over the Mississippi (Garrison 13). Between the years of 1816 and 1850 more than 100,000 Native Americans from all over North America were forced onto certain lands of territory west of the Mississippi (O’Neill 37). They were often forced to move to territory that had little to no resemblance of where they came from; villages that roamed hills, forests and lush vegetation had the possibility of being relocated to an area that was nothing but barren desert (O’Neill 12). Many had attempted to move Native Americans, but President Andrew Jackson and his administration were the first to have their proposal legislated by
In this attack, he moved about 20% of United States’ money into private banks. These banks were known as ‘’pet’’ banks because they politically supported Andrew Jackson. This causes what we know as The Bank War. Andrew Jackson enlarged credit by doing away with the bank. Andrew Jackson then moved the money from those banks into the private ones that only supported him.
