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What effect did President Jackson in vetoing the second bank of the UShave on the economy?
Wiki User
∙ 14y ago
The bill was to re-charter the Bank of the US. The president of the bank was a long-time Jackson enemy and he pressured Congress to time the bill in order to make it a campaign issue. Jackson had long opposed the bank because it had become a political arm of the Eastern establishment of which Jackson was not a member. He believed that a national bank was unconstitutional.
Jackson did more than veto the rechartering bill. After the bill failed, he did not wait for the charter to expire, but ordered federal funds to be withdrawn from the bank and placed in western state banks . This dried up capital in the East and
made credit easy on the west, causing a unhealthy financial bubble in land speculation.
Wiki User
∙ 13y ago
Wiki User
∙ 14y agoIt resulted in the Panic of 1837
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Considering that countries like UShave not constructed new nuclear power plants in few decades due to high costs involved how does one justify the Indian governments plans?
This is one for the Indian Government to answer, or perhaps the Indian nuclear industry
What is difference between velocity and speed of light?
"Velocity" is a word often used by people who think it's just a fancy word for "speed",and that they'll sound more knowledgeable if they use the bigger word. The truth isthat the two words have different meanings."Speed" means just what you think it does ... how fast you're going, or the distanceyou covered divided by the time it took to cover it. Here's the thing, though: You mighttravel for an hour at 60 mph and wind up in the next town, whereas I might spend anhour driving around a circular track at 60 mph and wind up where I started. Both of ushave the same speed, and nobody can tell the difference in our results just from our speeds."Velocity" tells how fast, and in what direction. Velocity is speed plus a direction.-- "30 miles per hour" is a speed.-- "30 miles per hour north" is a velocity.-- "50 miles per hour north" and "50 miles per hour west" are equal speeds,but they're different velocities.The speed of light is roughly 300,000 kilometers per second.I personally feel that it hardly ever makes sense to talk about the velocity of light.It spreads out in a wide fan of directions from most sources. We can bend light sharply,but it never travels in a circle, and we never have to add together two speeds of lightin different directions to calculate their combination. So the "speed" of light almostalways tells everything you need to know about it. I believe light is a perfect exampleof a case where the only people who talk about its 'velocity' are those who know notwhereof they speak.
