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It was Andrew Jackson.
What else can I help you with?
How did the wildcat banks contribute to the panic of 1837?
Pet Bank is another term for state banks. President Andrew Jackson, who hated the bank of the United States, took steps to disenfranchise it by emptying eat of all funds, and proceeding to transfer its funds to several pet banks. There was no currency backing up these banks. As a result, when economic issues, and over inflated spending occurred, the country entered a recession because there was no longer a federal bank with funding to ease the Panic of 1837.
During the Trail of Tears the US Government moved most of the Cherokee to what state?
The government moved the the Cherokee that did not die on the trail of tears to the state of Oklahoma.
Who is the head of Indian state?
PRESIDENT
What is the history of the state commercial banks?
Among the first institutions created by the administration of President George Washington was the Bank of the United States. Washington's Secretary of the Treasury, Alexander Hamilton, insisted that a national bank was necessary to.
IF the president or the vice president can no longer serve who becomes president?
Secretary of State
What happened when the federal banks funds were moved to the State Banks?
When federal funds were moved to state banks, it typically aimed to enhance liquidity and support local economies. This transfer could lead to increased lending capacity for state banks, fostering local business growth and investment. However, it also raised concerns about regulatory oversight and the potential for financial instability if state banks overextended their lending. Overall, the impact varied based on the economic context and the specific state bank policies in place.
What did Jackson do with National Bank funds?
In Jackson's own words: "The Bank, Mr. Van Buren, is trying to kill me, but I will kill it!" And kill it he did. In 1832, the Bank had to be re-chartered, and because Jackson's intentions were known, the Bank became a major election issue. But when the time came, Jackson vetoed the charter and disbanded the bank. The funds went to local banks and western "pet banks."
What action affected the second bank of the US after Jackson?
Jackson removed the bank's federal funds and placed them in state banks.
State banks in which President Jackson deposited government revenues?
Pet Banks
What happened to the funds drawn out of the second national Bank of the US?
They were deposited in various state banks.
What were pet banks?
Pet Banks were the banks created by Andrew Jackson within the states. When he eliminated the national bank, he called for the Federal funds to go to state banks, which caused an issue to the supporters of the National Bank.
How many presidents served as secretary of state after being president?
No ex-president has later become a Secretary of State- six have moved up from Secretary of State to president, however.
What was Martin van Buren's chief goal?
To find a substitute for the state banks as a place to keep federal funds.
What was the effect of vetoing the of the charter renewal and deposit of federal funds in state banks?
this is a hard question. go figure it out!
What problems resulted from weakening the Bank?
By moving most of it's funds to state banks. In many cases, these banks used the funds to state offer easy credit terms to people buying land. (this explains HOW it weakened the bank)While this practice^helped expansion in the West. It also led to INFLATION (that's the result)
How did the wildcat banks contribute to the panic of 1837?
Pet Bank is another term for state banks. President Andrew Jackson, who hated the bank of the United States, took steps to disenfranchise it by emptying eat of all funds, and proceeding to transfer its funds to several pet banks. There was no currency backing up these banks. As a result, when economic issues, and over inflated spending occurred, the country entered a recession because there was no longer a federal bank with funding to ease the Panic of 1837.
What affected the second bank of the US after Jackson's reelection?
Jackson removed the bank's federal funds and placed them in state banks.
