What was the improvements to the national bank system by Andrew Jackson?

Answer 1

Before Jackson there was a National Bank located in Philadelphia. This bank was like

a private bank of today, except that all federal funds were deposited in it, The bank

sold shares of stock,which let rich investors share in its profits. It made loans to individuals,and could chose which people were granted loans. It became a political power,

used its power to grant loans to gain support from Congressmen and senators, and

became a lobbyist agency .

Jackson ordered federal funds to be deposited in any state bank which was willing to

take on the responsibility of insuring the deposits. He vetoed a bill to renew the national

bank's charter and Congress did not override his veto, so the National Bank died.