JACKSONIAN DEMOCRACY 1825 1850
DEMOCRACY IN AMERICA BY ALEXIS DE TOCQUEVILLE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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state banks
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personal banks
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stock investments
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interest free loans
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Detailed explanation-1: -What did President Jackson support instead of a large national bank? The Bank of the United States is constitutional. What Supreme Court decision did President Jackson ignore?
Detailed explanation-2: -On September 10, 1833, Jackson removed all federal funds from the Second Bank of the U.S., redistributing them to various state banks, which were popularly known as “pet banks.” In addition, he announced that deposits to the bank would not be accepted after October 1.
Detailed explanation-3: -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.