Andrew Jackson And The Bank War

The Battle over the Charter of the Second Bank of the United States and Its Lasting Impact on the American Economy Late one night in July 1832, Martin Van Buren rushed to the White House where he found an ailing President Andrew Jackson weakened but resolute. Thundering against his political antagonists, Jackson bellowed: "The Bank, Mr. Van Buren, is trying to kill me, but I shall kill it!"With those famous words, Jackson formally declared "war" against the Second Bank of the United States and its president Nicholas Biddle. The Bank of the United States, which held the majority of Federal monies, had been established as a means of centralizing and stabilizing American currency and the economy, particularly during the country's vulnerable early years. Jackson and his allies viewed the bank as both elitist and a threat to states' rights. Throughout his first term, Jackson had attacked the bank viciously but failed to take action against the institution. Congress' decision to recharter the bank forced Jackson to either make good on his rhetoric and veto the recharter or sign the recharter bill and be condemned as a hypocrite. In The Bank War: Andrew Jackson, Nicholas Biddle, and the Fight for American Finance, historian Paul Kahan explores one of the most important and dramatic events in American political and economic history, from the idea of centralized banking and the First Bank of the United States to Jackson's triumph, the era of "free banking," and the creation of the Federal Reserve System. Relying on a range of primary and secondary source material, the book also shows how the Bank War was a manifestation of the debates that were sparked at the Constitutional Convention--the role of the executive branch and the role of the federal government in American society--debates that endure to this day as philosophical differences that often divide the United States.

President Andrew Jackson’s conflict with the Second Bank of the United States was one of the most consequential political struggles in the early nineteenth century. A fight over the bank’s reauthorization, the Bank War provoked fundamental disagreements over the role of money in politics, competing constitutional interpretations, equal opportunity in the face of a state-sanctioned monopoly, and the importance of financial regulation—all of which cemented emerging differences between Jacksonian Democrats and Whigs. As Stephen W. Campbell argues here, both sides in the Bank War engaged interregional communications networks funded by public and private money. The first reappraisal of this political turning point in US history in almost fifty years, The Bank War and the Partisan Press advances a new interpretation by focusing on the funding and dissemination of the party press. Drawing on insights from the fields of political history, the history of journalism, and financial history, The Bank War and the Partisan Press brings to light a revolving cast of newspaper editors, financiers, and postal workers who appropriated the financial resources of preexisting political institutions and even created new ones to enrich themselves and further their careers. The bank propagated favorable media and tracked public opinion through its system of branch offices, while the Jacksonians did the same by harnessing the patronage networks of the Post Office. Campbell’s work contextualizes the Bank War within larger political and economic developments at the national and international levels. Its focus on the newspaper business documents the transition from a seemingly simple question of renewing the bank’s charter to a multisided, nationwide sensation that sorted the US public into ideologically polarized political parties. In doing so, The Bank War and the Partisan Press shows how the conflict played out on the ground level in various states—in riots, duels, raucous public meetings, politically orchestrated bank runs, arson, and assassination attempts. The resulting narrative moves beyond the traditional boxing match between Jackson and bank president Nicholas Biddle, balancing political institutions with individual actors, and business practices with party attitudes.

Examines Jackson's role in destroying the Second Bank of the United States and the effect of his actions on the power of the Presidency

Essay from the year 2006 in the subject Economics - History, grade: 100%, University College of Bangor, language: English, abstract: Andrew Jackson may or may not have been a good president, this depends upon one’s opinion. Perhaps he was right on some issues and perhaps he was wrong, but either way he was definitely effective as a president. He knew how to manipulate and persuade to get whatever it was that he wanted. After all, he managed to get elected into office for both terms. Probably the biggest crisis of Jackson’s presidency started when South Carolina announced that they opposed the tariffs leveled in 1828 and 1832 by Jackson supporters. "Nullifiers" thought that a state could nullify a federal law within its own borders if it so desired. When South Carolina, led by John C. Calhoun, announced its intention to nullify the tariffs in the fall of 1832, it touched off what almost developed into a civil war, as Jackson massed military resources on the state's borders. Finally resolved in the spring of 1833 when South Carolina agreed to a new, more fair, tariff passed by Congress. And so, President Jackson has his way.

Reveals how the Rothschild Banking Dynasty fomented war and assassination attempts on 4 presidents in order to create the Federal Reserve Bank • Explains how the Rothschild family began the War of 1812 because Congress failed to renew a 20-year charter for their Central Bank as well as how the ensuing debt of the war forced Congress to renew the charter • Details Andrew Jackson’s anti-bank presidential campaigns, his war on Rothschild agents within the government, and his successful defeat of the Central Bank • Reveals how the Rothschilds spurred the Civil War and were behind the assassination of Lincoln In this startling investigation into the suppressed history of America in the 1800s, Xaviant Haze reveals how the powerful Rothschild banking family and the Central Banking System, now known as the Federal Reserve Bank, provide a continuous thread of connection between the War of 1812, the Civil War, the financial crises of the 1800s, and assassination attempts on Presidents Jackson and Lincoln. The author reveals how the War of 1812 began after Congress failed to renew a 20-year charter for the Central Bank. After the war, the ensuing debt forced Congress to grant the central banking scheme another 20-year charter. The author explains how this spurred General Andrew Jackson--fed up with the central bank system and Nathan Rothschild’s control of Congress--to enter politics and become president in 1828. Citing the financial crises engineered by the banks, Jackson spent his first term weeding out Rothschild agents from the government. After being re-elected to a 2nd term with the slogan “Jackson and No Bank,” he became the only president to ever pay off the national debt. When the Central Bank’s charter came up for renewal in 1836, he successfully rallied Congress to vote against it. The author explains how, after failing to regain their power politically, the Rothschilds plunged the country into Civil War. He shows how Lincoln created a system allowing the U.S. to furnish its own money, without need for a Central Bank, and how this led to his assassination by a Rothschild agent. With Lincoln out of the picture, the Rothschilds were able to wipe out his prosperous monetary system, which plunged the country into high unemployment and recession and laid the foundation for the later formation of the Federal Reserve Bank--a banking scheme still in place in America today.

The definitive biography of a larger-than-life president who defied norms, divided a nation, and changed Washington forever Andrew Jackson, his intimate circle of friends, and his tumultuous times are at the heart of this remarkable book about the man who rose from nothing to create the modern presidency. Beloved and hated, venerated and reviled, Andrew Jackson was an orphan who fought his way to the pinnacle of power, bending the nation to his will in the cause of democracy. Jackson’s election in 1828 ushered in a new and lasting era in which the people, not distant elites, were the guiding force in American politics. Democracy made its stand in the Jackson years, and he gave voice to the hopes and the fears of a restless, changing nation facing challenging times at home and threats abroad. To tell the saga of Jackson’s presidency, acclaimed author Jon Meacham goes inside the Jackson White House. Drawing on newly discovered family letters and papers, he details the human drama–the family, the women, and the inner circle of advisers– that shaped Jackson’s private world through years of storm and victory. One of our most significant yet dimly recalled presidents, Jackson was a battle-hardened warrior, the founder of the Democratic Party, and the architect of the presidency as we know it. His story is one of violence, sex, courage, and tragedy. With his powerful persona, his evident bravery, and his mystical connection to the people, Jackson moved the White House from the periphery of government to the center of national action, articulating a vision of change that challenged entrenched interests to heed the popular will– or face his formidable wrath. The greatest of the presidents who have followed Jackson in the White House–from Lincoln to Theodore Roosevelt to FDR to Truman–have found inspiration in his example, and virtue in his vision. Jackson was the most contradictory of men. The architect of the removal of Indians from their native lands, he was warmly sentimental and risked everything to give more power to ordinary citizens. He was, in short, a lot like his country: alternately kind and vicious, brilliant and blind; and a man who fought a lifelong war to keep the republic safe–no matter what it took.

Most people vaguely imagine Andrew Jackson as a jaunty warrior and a man of the people, but he was much more—a man just as complex and controversial as Jefferson or Lincoln. Now, with the first major reinterpretation of his life in a generation, historian Andrew Burstein brings back Jackson with all his audacity and hot-tempered rhetoric. The unabashedly aggressive Jackson came of age in the Carolinas during the American Revolution, migrating to Tennessee after he was orphaned at the age of fourteen. Little more than a poorly educated frontier bully when he first opened his public career, he was possessed of a controlling sense of honor that would lead him into more than one duel. As a lover, he fled to Spanish Mississippi with his wife-to-be before she was divorced. Yet when he was declared a national hero upon his stunning victory at the Battle of New Orleans, Jackson suddenly found the presidency within his grasp. How this brash frontiersman took Washington by storm makes a fascinating story, and Burstein tells it thoughtfully and expertly. In the process he reveals why Jackson was so fiercely loved (and fiercely hated) by the American people, and how his presidency came to shape the young country’s character.