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jackson war on the bank
prosperity became panic
Lawyer, banker, financier. Religion. Quaker. Signature. Nicholas Biddle was an American financier who served as the third and last president of the Second Bank of the United States
The Bank War was the name given to the campaign begun by President Andrew Jackson in 1833 to destroy the Second Bank of the United States, after his reelection convinced him that his opposition to the bank had won national support.
During Jackson's last years as president, the nation prospered. But because it was easy to borrow money, people took out loans and bought land. The economy boomed, but the banks issued too much paper money, and inflation occurred. Inflation is the increase in prices and decrease in the value of money.
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