Jackson & the Bank War
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Last updated 2:35 PM on 11/11/22
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10 Terms
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Henry Clay
Political leader who is responsible for the rechartering Bank Bill
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Nicholas Biddle
President of the Second Bank of the United States; he struggled to keep the bank functioning when President Jackson tried to destroy it.
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Andrew Jackson
Believed the Bank was harmful to the nation and was unconstitutional
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Reasons to support the Second Bank of the United States
Provided loans; Standardized currency; Storage of tax collected monies; Regulated the economy
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Reasons to oppose the Second Bank of the United States
Monopoly; Un-American; Controlled by the elite; Too much power over the economy
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Pet Banks
State banks where Andrew Jackson placed deposits removed from the federal National Bank.
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Panic of 1837
A financial crisis in the United States that led to an economic depression
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Specie Circular
Provided that in payment for public lands, the government would accept only gold or silver
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Inflation
A general and progressive increase in prices
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Presidential Election of 1832
Jackson easily won re-election against Henry Clay for the presidency in a Democratic Party triumph.
Note 
Flashcards (34)