Andrew Jackson vs National Bank Christina Angelina

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Christina And Angelina

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  • Rich men owned 4/5 of the bank. Money paid by westerners for loans went to eastern bankers. Bank owners could control the economy in most parts of the U.S
  • Jackson argued that only the rich benefit from the banks. Bankers didn't want their powers to be taken from them. Bankers convince congress to renew bank charter 4 years early. Jackson vetos the bill.
  • Common people saw Jackson as their hero. He was re elected for second term in 1832. Charter of U.S bank was not renewed, this gave growth to individual ,manageable and controllable state banks.
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