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Jackson's Veto on the Re-charter
Jackson vetoed the bank because well he didn't support the bank, and on top of that the recharter was 4 years early, the bank was supposed to be rechartered in 1836. This recharter was an attempt to interrupt the election of 1832 and get Jackson out of office. -
Presidential Election of 1832
Andrew Jackson won by a landslide. -
Nicholas Biddle
Nicholas Biddle was the president of the national bank and brought up states banknotes, and other things as reasons for the recharter to be early. -
Pet Banks
Andrew Jackson stated that the United States would no longer be using the national bank, then took the funds from the national bank and divided the money among 23 state banks (otherwise known as pet banks). -
Formation of the Whig Party
The Whig Party was created because of Jackson's re-election in 1832 and him basically destroying the 2nd national bank, by his supporters who supported the bank linking up with the National Republicans. -
Jackson's Abuse of Power
Congress said, that Jackson abused his executive powers in the Bank Wars. -
Expiration of the bank Re-charter
In 1836 the national bank's re-charter expired. -
Specie Circular
This was an executive order issued by President Andrew Jackson which refused the renewal of the 2nd National Bank. Made it mandatory to pay for government lands in gold and silver. -
Presidential Election of 1836
This election was won by Andrew Jackson's vice president Maritn Van Buren. -
Panic of 1837
This was an economic depression that lasted into the mid-1840s. This was caused by the funds of the National Bank being moved to pet banks and the Specie Circular. The people blamed Van Buren for the depression because he was the sitting president. -
Presidential Election of 1840
Van Buren lost the election to William Henry Harrison because of the blame and hate he got for the depression.