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I am going to shut down the bank it is only supporting the wealthy.
I veto the renewal
I need all the government´s funds.
Even though the Second bank of the United States ran very efficiently, Jackson disliked it because he thought that the Bank only favored the wealthy.
Can I buy all this land.
Jackson did not want the bank to continue to operate. As a result when Congress voted to renew the bank's charter, Jackson vetoed the renewal.
We need gold and silver.
I do not have any.
Jackson wanted to destroy the Bank of the United States before the charter ran out. He took government funds and deposited them in pet banks, or state banks.
The Panic of 1837
As a result of Jackson´s actions most of the nation prospered during his last years in office. Because it was easier to borrow money, people took out loans to buy public lands, and the economy boomed.
People tried to take their paper money to the bank and exchange it for gold and silver, but the banks quickly ran out of both. Many banks went out of business and forced to close.