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Andrew Jackson: National Bank
built 226 days ago
One of Andrew Jackson's crowning achievements was his destruction of the Bank of the United States. The epic battle lasted for 2000 days and 1 night, consisting of alternating bouts of fisticuffs and chinese checkers, and only ended when Jackson blackmailed the Bank with embarassing photos form the Bank's high school days.
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Andrew Jackson's strong actions, particularly during disputes involving the Bank of the United States and the rights of states, won him much praise. He became known as a champion of the people.
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Jackson's military duties markedly increased upon his election as major general of the Tennessee militia in 1802 and continued for the next twenty years. Though this period brought him national honor, personal and political controversy clouded his fame. In 1803 he quarreled with John Sevier and almost dueled with the governor. In January 1806 he caned Thomas Swann; in May he killed Charles Dickinson in a duel; and in September of that year he tacitly endorsed Aaron Burr's controversial western schemes. Early in 1807, Jackson ran a sword through Samuel Jackson. And in September 1813 he brawled with brothers Jesse and Thomas Hart Benton, taking a bullet in the arm.
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Jackson thought the voice of the people was supreme law. Although a man of powerful prejudices and passions, he identified with the voice of the people, and thought his election as president gave him the unique power to express that voice. His opponents misunderstood the voice and lacked the legitimate national base in any case. Thus Jackson denounced anyone who crossed him an enemy of the sovereign people. To fulfill this voice of the people in the political arena, he thought that the preservation of states' rights was an indispensable precondition to the achievement of people-oriented democracy. Although Jackson's record was erratic, when his presidency was done, federal authority was vastly weaker, and the states, for practical purposes, were much stronger than before, though as the Nullification criris proved, he would not tolerate defiance.
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Jackson was duly nominated for the presidency by the Tennessee legislature in July 1823. Immediately there was an enthusiastic response from all sections of the nation. The authors of the plan to elect Miller began to back off from Jackson, uneasy at the support he was eliciting from debtor classes by urging adoption of relief measures to ease the economic hardships resulting from the panic of 1819 and by other proposals antagonistic to the creditor and banking interests represented by the Overton faction. As the Miller candidacy faltered, a few of Jackson's unshaken allies, notably William B. Lewis and John H. Eaton, salvaged the general's position by presenting his own name in opposition to Williams, and in this fashion Jackson found himself returned to the U.S. Senate in November 1823. Continued endorsements by political conventions in other states put him in the front rank of contenders for the presidency.
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As President, Jackson worked to take away the federal charter of the Second Bank of the United States (it would continue to exist as a state bank). The Second Bank had been authorized, during James Madison's tenure in 1816, for a 20-year period. Jackson opposed the national bank concept on ideological grounds. In Jackson's veto message (written by George Bancroft), the bank needed to be abolished because:
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