Andrew Jackson's Pet Banks?Can you explain to me the reasoning behind his decisions on state vs national banks or give me a good website? | |
Andrew Jackson's Pet Banks?Can you explain to me the reasoning behind his decisions on state vs national banks or give me a good website? | |
. As President, Jackson worked to rescind the bank's federal charter. In Jackson's veto message (written by George Bancroft), the bank needed to be abolished because:
* It concentrated the nation's financial strength in a single institution.
* It exposed the government to control by foreign interests.
* It served mainly to make the rich richer.
* It exercised too much control over members of Congress.
* It favored northeastern states over southern and western states.
* Banks are controlled by a few select families.
* Banks have a long history of instigating wars between nations, forcing them to borrow funding to pay for them.
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Andrew Jackson's Pet Banks?
Can you explain to me the reasoning behind his decisions on state vs national banks or give me a good website?