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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Why did Jackson not want the 2nd Bank of the U.S.?
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The bank restricted Jackson from raising tariffs
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The bank did not permit the use of gold and silver for currency.
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The bank had too much power over the economy and favored the wealthy.
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it was not in the South
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Explanation:
Detailed explanation-1: -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-2: -In 1833, Jackson removed all the federal funds from the second Bank and redistributed them to various state banks. Jackson had succeeded in destroying the bank; its charter officially expired in 1836.
Detailed explanation-3: -Why was Jackson adamant in his rejection of a Second Bank of the U.S.? He was concerned it would gain too much power and eventually control the government.
There is 1 question to complete.