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In what year did US president Jackson veto the extension of the national bank charter?
Wiki User
∙ 14y ago
In July of 1832, President Andrew Jackson issued a veto of a bill that would have re-chartered the Second Bank. Jackson believed that the bank was corrupt.
Wiki User
∙ 9y ago
Wiki User
∙ 14y ago1832
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What did President Jackson did about the national bank?
US President Andrew Jackson removed all government funds from the Bank of the United States. He also vetoed a new charter for the bank in 1832.
What happened as a result of President Andrew Jackson's opposition to the National Bank?
Jackson won the election of 1832 after the bank president forced renewal of the bank charter to be a campaign issue. After the charter was not renewed, Jackson hastened its demise by ordering federal money to be taken out of it and moved to state banks.
Who was the president of the national bank during Andrew Jackson's presidency?
Nicholas Biddle was the president of the bank. He challenged Jackson and got Congress to renew the bank's charter in 1832, an election year. Jackson vetoed the bill to re-charter and the existence of the bank became a campaign issue.
What was a political consequence of Jackson fight against the National Bank?
Jackson's opposition made the bank charter an issue in 1832 election by pushing a bill to renew its charter through Congress before the charter was due to expire, forcing Jackson to veto it just before the election. The move backfired since Jackson won handily and his influence as President increased.
What did Jackson do about congresses renewal of the national bank charter?
he destroyed the bank
Why did Andrew Jackson not sign the carter for the 2nd national bank?
Andrew Jackson did not sign the charter for the Second National Bank because he believed that it concentrated too much power in the hands of a few wealthy individuals and posed a threat to the democratic principles he valued. He considered the bank to be unconstitutional and a tool for promoting the interests of the wealthy elite at the expense of the common people.
Which president vetoed to the bill to re-charter the bank of the US?
President Andrew Jackson vetoed the bill to re-charter the Bank of the United States in 1832.
What happened after congress renewed the charter for the bank of the United?
President Andrew Jackson vetoed the bill
Did Nicholas Biddle kill the 2nd National Bank?
Biddle was the president of the bank and certainly did not intend to kill it, but his challenge to Andrew Jackson to have the charter renewed in an election year did result its demise, so in a sense he helped kill it.
What happened after the congress renewed the charter for the bank of the United States?
President Andrew Jackson vetoed the bill
What happened after congress renewed the charter for the bank of the United States?
President Andrew Jackson vetoed the bill
When President Jackson did not renew the charter for the Bank of the US the responsibility of money lending fell to?
When President Jackson did not renew the charter for the Bank of the US the government stated putting money in state banks. Money lending fell on these banks and four anti-bank resolutions were approved.
