USA HISTORY

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: -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: -In closing, Jackson emphasized that the “rich and powerful too often bend the acts of government to their selfish purposes.” The wealthy Americans stood to benefit from the bank’s recharter, he argued, not farmers, mechanics, and laborers.

Detailed explanation-4: -The spoils system led to corruption that harmed effective government. Why did Jackson prefer state banks to a national bank? He believed state banks were more helpful to the people who elected him.