JACKSONIAN DEMOCRACY 1825 1850
ELECTION OF 1824
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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What did Jackson attack because he felt it only helped the wealthy?
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Factory
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Second National Bank
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Cherokee Tribe
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Tariff
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Explanation:
Detailed explanation-1: -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-2: -He “killed” the National Bank by removing all federal funds and placing them in “pet banks.” This combined with rampant speculation in western lands ended up destabilizing the banking system so much so that in 1836, Jackson ordered that western land could only be paid for in gold or silver.
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