USA HISTORY

Detailed explanation-1: -As president, Jackson made no secret of the fact that he opposed the Bank’s upcoming recharter in 1836.

Detailed explanation-2: -President Andrew Jackson announces that the government will no longer use the Second Bank of the United States, the country’s national bank, on September 10, 1833. He then used his executive power to remove all federal funds from the bank, in the final salvo of what is referred to as the “Bank War."

Detailed explanation-3: -In his 1830 and 1831 annual messages, Jackson reiterated his opposition to the Bank. He proposed in its stead a wholly government institution-in name a bank, but in effect an arm of the Treasury, without power to make loans, acquire property, or issue notes.

Detailed explanation-4: -Jackson’s distrust of the Bank was also political, based on a belief that a federal institution such as the Bank trampled on states’ rights. In addition, he felt that the Bank put too much power in the hands of too few private citizens–power that could be used to the detriment of the government.

Detailed explanation-5: -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.