USA HISTORY

Detailed explanation-1: -The Bank was popular with many Americans, however, and Jackson’s opponents-including Senator Henry Clay of Kentucky-convinced Biddle to seek an early recharter before the election of 1832, betting that Jackson would not veto the recharter if Congress passed it.

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: -Nicholas Biddle, the third and last president of the Second Bank of the United States, became President Andrew Jackson’s nemesis during the “Bank War.” During the election campaign of 1832, Jackson’s opponents organized a new political party, the National Republicans, under Henry Clay.

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: -The Bank’s most powerful enemy was President Andrew Jackson. In 1832 Senator Henry Clay, Jackson’s opponent in the Presidential election of that year, proposed rechartering the Bank early.