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Supports: the Second Bank earned strong support from business people, because they liked the fact that the bank made loans to businesses. moreover the bank was a safe place for the federal goverment to keep its money, and the stable money it issued formed a stable currency
Opponents: the opponents of the Second Bank disliked the way the bank loans made by state banks (fearing that the state banks where making to many loans) Bank directors often limited the amount of money banks could lend, this angered farmers and merchants that wanted to buy land. The most powerful enemy of the bank at that time was Andrew Jackson (the seventh president of the united states) According to Jackson,"the bank allowed a small group of wealthy people to enrich themselves at the expense of ordinary people"
What else can I help you with?
How did Jackson weaken the second bank of the US in 1833?
Andrew Jackson announced that the government was no long going to be using the Second National Bank and removed all funds from the bank.
Why did critics of the second bank of the United st oppose it?
Critics of the Second Bank of the United States opposed it primarily because they believed it concentrated too much financial power in a centralized institution, which they feared could lead to corruption and favoritism towards wealthy elites. They argued that it undermined state banks and local economies, limiting access to credit for smaller businesses and everyday citizens. Additionally, opponents, including figures like President Andrew Jackson, viewed the bank as an unconstitutional entity that threatened individual liberties and the democratic process.
What bank allowed people to exchange their dollars for gold and silver?
It's the Second Bank of the United States.
Who was the first female bank robber in the US?
St.Petersburg is the answer.You can believe this.
When was Bank of America founded?
The Bank of America was founded in 1940 after a merger of what would become the largest banking institution in America. Today it is the second largest bank holding institution, by assets.
What did supporters believe a national bank would do for th US?
What did supporters believe a national bank would help to boost the economy of US. They believed that this would be done through the regulation policies that would be set up for the private banks.
What were the arguments for and against the second bank of the United states?
Supporters of the Second Bank of the United States argued that it provided essential stability to the national economy by regulating currency and credit, facilitating trade, and serving as a financial agent for the federal government. They believed it helped to prevent the financial panics that plagued the country. Conversely, opponents argued that the bank concentrated too much financial power in the hands of a few and favored wealthy elites over the common people. Critics, including President Andrew Jackson, feared it undermined states' rights and was susceptible to corruption and mismanagement.
If you think congress had the power to charter the second bank of the us what do you believe in?
Loose construction
How did Jackson weaken the second bank of the US in 1833?
Andrew Jackson announced that the government was no long going to be using the Second National Bank and removed all funds from the bank.
Is Hsbc bank second generation bank?
i think so, that HSBC is a second generation bank, but i am not sure.
Who were the democrats and what did they believe?
Democrats believe in the state bank.
Is the national bank and the second bank of the US the same?
The National Bank and the Second Bank of the United States are the same. The term national bank can refer to the Bank of North America as well as the First Bank of the United States.
When did Second Bank of the United States end?
Second Bank of the United States ended in 1841.
Is union bank a second chance bank?
YES
What is the second largest financial institution in Europe?
Germany's Deutsche Bank was the second largest financial institution in Europe in 2011, after France's BNP Paribas. In addition, Deutsche Bank was the second largest bank in the world in 2011. In 2012, Germany's Deutsche Bank became the largest bank in Europe, but remained the second largest in the world. HSBC, who was the third largest European bank in 2011, became the second largest in 2012, and 2011's largest European bank fell to the fourth largest position.
When was the Second Harvest Food Bank established?
The Second Harvest Food Bank was founded in 1972. It was the first food bank in California and it is the second oldest food bank in the country. They have over 200 agencies and 3000 volunteers.
What does fsb stand for in bank?
I believe it stands for Federal Savings Bank
