JACKSONIAN DEMOCRACY 1825 1850
AGE OF THE COMMON MAN
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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gave loans and extended credit to agricultural industry
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was unconstitutional and didn’t produce a stable currency
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should create paper money instead of relying only on gold
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had ignored the Supreme Court ruling in Worchester v. Georgia
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Detailed explanation-1: -The bank’s charter was unfair, Jackson argued in his veto message, because it gave the bank considerable, almost monopolistic, market power, specifically in the markets that moved financial resources around the country and into and out of other nations.
Detailed explanation-2: -Jackson quickly vetoed the bill and defended his decision on constitutional principles, saying the Constitution does not specifically grant Congress the power to create a national bank.
Detailed explanation-3: -Now, at Jackson’s prompting, he prepared a detailed critique, arraying objections to the Bank under two heads. The Bank was unconstitutional, because Congress had no power to charter corporations and withdraw them from the regulatory and taxing power of the states.
Detailed explanation-4: -When Congress voted to extend the Second Bank’s charter in 1832, Jackson vetoed the bill. To explain his decision to the nation, Jackson issued this veto message on July 10, 1832.