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Yes, very much. The bank heavily favored lenders from the NE establishment and tended to slight western farmers and land speculators who wanted loans. Later, after Jackson became President, the bank essential became an arm of anti-Jackson people. Since the Jackson supporters were mostly western and frontiersmen, this was also a sectional issue.
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Why did Jackson refuse to recharter the National Bank?
Jackson refused to recharter the National Bank because it went against his beliefs. He deemed the bank unconstitutional. He also saw that the attack based on the bank was a very personal attack.
How did Jackson justify his veto of the BUS recharter bill?
Andrew Jackson explained his veto of the recharter bill by stating that he believed the Bank of the United States was elitist and unconstitutional. Jackson was the country's 7th President.
Which president vetoed the bill that would recharter the Second National Bank?
Andrew Jackson
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.
When Henry Clay tried to make the bank of the US a key campaign issue in 1832?
Jackson turned the tables on him by vehemently opposing rechartering of the bank.
Why did Jackson refuse to recharter the National Bank?
Jackson refused to recharter the National Bank because it went against his beliefs. He deemed the bank unconstitutional. He also saw that the attack based on the bank was a very personal attack.
How did Jackson justify his veto of the BUS recharter bill?
Andrew Jackson explained his veto of the recharter bill by stating that he believed the Bank of the United States was elitist and unconstitutional. Jackson was the country's 7th President.
Which president vetoed the bill that would recharter the Second National Bank?
Andrew Jackson
Why did Senators Daniel Webster and Henry Clay force an early vote on rechartering the Bank of the US?
They wanted the bank to be an election issue in 1832. They knew Jackson would veto the bill to recharter, so they timed it to come in an election year.
How did Jackson react to the bill to recharter of the bank of the US?
He vetoed it. Not wanting to wait for the charter to expire, he withdrew federal funds from the bank.
What did Jackson's veto of the Bank of the Untied States recharter bill represent?
I am not sure what you mean by "represented". His veto was based on his long-standing position that this 2nd bank of the US was an agency which helped to establish a ruling class in the US and bad for the majority of the people. The bill was politically timed to force Jackson to make the bank a campaign issue in the election of 1832. (The charter did not expire until 1834, so there was no reason to recharter it at the time of the bill.)Let ME give you a clear answer k... um Jackson's veto was dealt to the composition of the second bank of the U.S. because Nicholas Biddle (bank's director) decided to push for a bill to renew the Bank's charter in 1832. Jackson claimed he "would kill it" and true to his word, he vetoed the legiskation when congress sent it to him. So that's the significane okay? :)Hope it helped... i hope lol. :D
How do you think Jackson might have countered his critics accusation that he was acting like a king?
Henry Clay, Daniel Webster, and other Whig leaders proclaimed themselves defenders of popular liberties against the usurpation of Jackson. Hostile cartoonists portrayed him as King Andrew I. Behind their accusations lay the fact that Jackson, unlike previous Presidents, did not defer to Congress in policy-making but used his power of the veto and his party leadership to assume command. The greatest party battle centered around the Second Bank of the United States, a private corporation but virtually a Government-sponsored monopoly. When Jackson appeared hostile toward it, the Bank threw its power against him. Clay and Webster, who had acted as attorneys for the Bank, led the fight for its recharter in Congress. "The bank," Jackson told Martin Van Buren, "is trying to kill me, but I will kill it!" Jackson, in vetoing the recharter bill, charged the Bank with undue economic privilege.
How do you think Andrew Jackson might have countered his critic's accusations that he was acting like a king?
Henry Clay, Daniel Webster, and other Whig leaders proclaimed themselves defenders of popular liberties against the usurpation of Jackson. Hostile cartoonists portrayed him as King Andrew I. Behind their accusations lay the fact that Jackson, unlike previous Presidents, did not defer to Congress in policy-making but used his power of the veto and his party leadership to assume command. The greatest party battle centered around the Second Bank of the United States, a private corporation but virtually a Government-sponsored monopoly. When Jackson appeared hostile toward it, the Bank threw its power against him. Clay and Webster, who had acted as attorneys for the Bank, led the fight for its recharter in Congress. "The bank," Jackson told Martin Van Buren, "is trying to kill me, but I will kill it!" Jackson, in vetoing the recharter bill, charged the Bank with undue economic privilege.
What was biddles panic?
In order to force President Andrew Jackson to recharter the National Bank, Nicholas Biddle, in 1834, shrunk it's money supply by demanding old loans to be paid to the bank before new ones would be granted in order to cause a recession.
What was Nicholas Biddle's panic?
In order to force President Andrew Jackson to recharter the National Bank, Nicholas Biddle, in 1834, shrunk it's money supply by demanding old loans to be paid to the bank before new ones would be granted in order to cause a recession.
What was the bank recharter bill?
It was what it sounds like- a bill to re-charter a bank - in this case, the Second Bank of the United States. "re-charter" meant to renew the charter that allowed the bank to operate,
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.
