USA HISTORY

Detailed explanation-1: -Contents. The Bank War was the political struggle that ensued over the fate of the Second Bank of the United States during the presidency of Andrew Jackson. In 1832, Jackson vetoed a bill to recharter the Bank, and began a campaign that would eventually lead to its destruction.

Detailed explanation-2: -As president of the bank, Biddle sponsored policies that restrained the supply of credit to the country’s banks; stabilized the investment, money, and discount markets; regulated the money supply; and safeguarded government deposits.

Detailed explanation-3: -Jackson’s opponents ridiculed these “pet banks” as a source of corruption, but to no avail. The removal of the government’s deposits crippled the federal bank, and it dissolved in 1836.