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Panic of 1837
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Jackson Vetoes The Bank Bill
I JUST VETOED THE BANK!
Securing The Win
WE ARE UNITED AS ONE!
Jackson vetoed the second bank because it was favored and wealthy but went against the 'common man'.
Panic Of 1837
Jackson went to war against the wealthy bank and got a lot of attention from the common folk which secured the reelection in 1832.
Silver And Gold
As another attack on the National Bank, Jackson stopped depositing funds (money) into federalbanks altogether.
Jackson's stance against the bank was solidified, however, his pet banks allowed wild inflationand speculation to take place.
In response to the overwhelming inflation and speculation crisis, Jackson issued an executiveorder forbidding the purchase of lands except through gold and silver.
The banks, however, did not have enough gold and silver to supply the increasing demand. Theeconomy was further depressed.
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