The economic development of the Jacksonian period was a sign of this periods commitment to the common man. The Bank of joined States was a powerful institution where the government deposited its own funds; it had several(prenominal) branches and headquarters in Philadelphia that controlled state banks.
This powerful institution was part down by Andrew Jackson during his presidency. Jackson did this by vetoing the criterion to recharter the Bank and transferring government deposits from the national bank to the state banks instead, which enkindle war between himself and Nicholas Biddle, the longstanding president of the Bank of United States; Biddle, hoping that a short recession would cause congress to view and recharter the Bank, called in loans and increased interest. Jacksons reasoning in tearing down the Bank was that he believed that the bank to be an unstable and aristocratic institute for the purposes of fulfilling the economic desires of the aristocracynot the common man. This reasoning was...If you want to get a full essay, order it on our website: Ordercustompaper.com
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