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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Why did President Andrew Jackson dislike the idea of the Bank of the United States? Select ALL that apply.
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He disapproved of the massive loans the Bank was granting to western farmers.
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He believed the bank was a monopoly that only benefited the wealthy.
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He thought the Bank was unconstitutional.
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He argued that the Bank’s practices were causing inflation.
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Explanation:
Detailed explanation-1: -Jackson, the epitome of the frontiersman, resented the bank’s lack of funding for expansion into the unsettled Western territories. Jackson also objected to the bank’s unusual political and economic power and to the lack of congressional oversight over its business dealings.
Detailed explanation-2: -Andrew Jackson opposed the National Bank b/c he thought it was unconstitutional and it gave too much economic power to capitalists. Also, the National Bank could control the state banks.
There is 1 question to complete.