1

Andrew Jackson and the Veto of the Second Bank of the United States

Name

Institution

Course

Professor

Date
 2

Andrew Jackson and the Veto of the Second Bank of the United States

Andrew Jackson's refusal to support the continuation of the Bank of the United States was

motivated by a variety of factors. Primarily, he held a strong belief that this institution

consolidated excessive economic and political authority in a select group of wealthy individuals,

mainly based in northeastern states. In his eyes, it represented privilege and acted as a means for

benefiting the elite while exploiting ordinary citizens (Museum of American Finance, (nd).

Furthermore, Jackson saw how its dominance over money circulation gave it an unfair advantage

in shaping financial regulations that ultimately favored affluent elites.

Jackson harbored a strong suspicion towards the Bank's administration, particularly its head

figure Nicholas Biddle. He denounced the institution for unethical behavior like favoring allies

by granting loans and withholding credit from opponents of their agenda. Moreover, Jackson

believed that the Bank was responsible for creating financial turmoil through excessive printing

of banknotes without sufficient reserves in gold or silver, potentially causing inflation and

economic problems (Museum of American Finance, (nd).

According to Jackson, his strong resistance to the Bank of the United States was based on both

his political beliefs and dedication to states' autonomy. He saw it as a violation of the

constitution and an infringement on state powers. His refusal to renew its charter in 1832

exemplified his larger goal of establishing a federal government with less central authority and

giving more power to individual states. Andrew Jackson's decision to oppose the renewal of the

Bank of the United States was motivated by his worries about its dominant influence,

questionable actions taken by its leadership, and strong belief in states' rights and a smaller

federal government (Archieved.gov, (nd). This stance resulted in the downfall of the Bank and
 3

cemented Jackson's reputation as an advocate for ordinary citizens and his interpretation of

American democracy.
 4

References

Archieved.gov (nd). Conflict with the Executive: The Bank War. Retrieved from

https://www.archives.gov/exhibits/treasures_of_congress/text/page9_text.html

Museum of American Finance (nd). Jackson Vetoes Re-Charter of the Second Bank of the US.

Retrieved from https://www.moaf.org/exhibits/checks_balances/andrew-

jackson/broadsheet