THE VIRGINIA DYNASTY 1801 1825
JAMES MADISON AFTER THE WAR OF 1812 THE ERA OF GOOD FEELINGS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The bank restricted Jackson from raising tariffs.
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The bank did not permit the use of gold and silver for currency.
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The bank had too much power over the economy and favored the wealthy.
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The bank had corrupt leadership that threatened foreign trade and domestic industries.
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Detailed explanation-1: -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-2: -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-3: -Why did Andrew Jackson veto the bill to recharter the Second Bank of the United States in 1832? He thought it interfered with the rights of states and the liberties of the people.
Detailed explanation-4: -After congress renewed the bank charter, Jackson vetoed the bill. The following was the message he gave to congress after issuing his veto. Jackson’s decision was controversial. Some Americans accused him of acting like a dictator to redistribute wealth.
Detailed explanation-5: -When Congress voted to extend the Second Bank’s charter in 1832, Jackson vetoed the bill. To explain his decision to the nation, Jackson issued this veto message on July 10, 1832.