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Us President Andrew Jackson was well known for his sound fiscal policies he undertook as the US president. For example, he was the only president to pay off the Federal government's debt. This was fine with the US Senate, however, in 1863, Jackson effectively ended the US National Bank by withdrawing Federal funds for it. In a de facto manner, he basically ended the bank, although he would do so formally by not renewing its charter. With that said, the majority of Senators believed that when Jackson removed US funds from the National Bank, he performed an unconstitutional act. It was all bluster, however, for despite the Senate's objections, Jackson had his way.

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