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James Madison decided that a 2nd bank needed to be set up to repay the debts of the US after the War of 1812. A lot of people didn't agree with this. -
A ton of unemployment as well as inflation and the banks was failing. Investment in western land had been lost. -
This Supreme Court Case decided that states didn't have the right to enforce taxes on the 2nd National Bank and only the federal government could. -
He was elected president in 1828 and declared his resentment against the 2nd National Bank. -
Because of his veto the Bank was suffering; however when Jackson decided to remove all federal deposits from it. The 2nd National Bank fell to ashes. -
Due to his distaste for the National Bank, Andrew Jackson vetoed it and tried to reform the bank into something of his liking. -
Named after the British party, the Whig Party was formed by those who apposed Jackson's ruling with the Bank. With their combined efforts they would oppose Jackson during his presidency. -
To limit the increasing rise of money, Jackson would enforce payments to be made in gold and silver. -
Similar to 1819, inflation and unemployment were at a al time high, mostly due to the bank being not regulated at all. -
William Henry Harrison of the Whig party would be elected, dying a month into office leading his Vice President to carry on.