JACKSONIAN DEMOCRACY 1825 1850
PRESIDENT ANDREW JACKSON
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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It should be supported at all costs.
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It unfairly favored poor people
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It unfairly favored wealthy people
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It was corrupt.
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Detailed explanation-1: -But the real evil of the Bank, Jackson claimed, was its creation of a privileged class of Americans with too much money and political power. “It is to be regretted that the rich and powerful too often bend the acts of government to their selfish purposes, ” he wrote.
Detailed explanation-2: -President Andrew Jackson, like Thomas Jefferson before him, was highly suspicious of the Bank of the United States. He blamed the bank for the Panic of 1819 and for corrupting politics with too much money. After congress renewed the bank charter, Jackson vetoed the bill.
Detailed explanation-3: -The bank’s charter was unfair, Jackson argued in his veto message, because it gave the bank considerable, almost monopolistic, market power, specifically in the markets that moved financial resources around the country and into and out of other nations.
Detailed explanation-4: -List Jackson’s reasons for wanting to “kill” the Bank of the United States. He believed that the Bank of the US favored the rich and hurt the poor and that it had too much power. Why did President Van Buren do little to solve the nation’s economic problems caused by the depression?