And The Very Ugly

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  • Mr. Biddle's Bank
  • This bank has way too much power!
  • Jackson's War on the Bank
  • The bank is unconstitutional
  • Prosperity Becomes Panic
  • We have our paper money, now give us gold and silver in exchange!
  • Although the bank ran efficiently, Jackson had many reasons to dislike. For one thing, he had come to distrust banks after losing money in financial deals early in his career. He also the bank had too much power.
  • In his second term, Jackson set out to destroy the bank before its charter ended in 1832. The people rallied to Jackson's position. Eventually, the bank went out of business.
  • The banks quickly ran out of gold nd silver. When the government tried to get its money from the state banks, the banks could not pay. The banks went out of business.
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