Jackson And The Bank Battle
The war on the Second Bank of the United States can be described as one of the most controversial aspects of President Andrew Jackson's two terms in the office. President Jackson used his presidency to destroy the Second Bank of the United States and many government powers and institutions were affected by the methods and principles he acted upon.
The idea for a Bank of the United States or a National Bank was conceived by Alexander Hamilton, Secretary of Treasury under President George Washington (Remini, "Andrew Jackson and the Bank War," 23). It was originally supposed to serve as a central fiscal system for the nation where the government would deposit money and appoint five of the twenty five board members, in an attempt to provide some sort of government regulation and representation in this new bank. Most of the bank's business would be private and it would be privately run (Remini, "Andrew Jackson and the Bank War," 24). The biggest problem with the banking system of......
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