USA HISTORY

Detailed explanation-1: -Clay then asked the Senate to condemn Jackson, saying he violated the Constitution and the nation’s laws. The Senate approved the resolution. The chief opponent to the bank was Senator Thomas Hart Benton of Missouri.

Detailed explanation-2: -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-3: -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-4: -At the time Jackson became President in 1828, the Bank of the United States was ably run by Nicholas Biddle, a Philadelphian. But Biddle was more an astute businessman than politician.

Detailed explanation-5: -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.