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The second bank would be chartered on April 10th, 1816. It would pass congress and be signed by James Madison.
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Andrew Jackson would seek for re-election in the election of 1832. Jackson's opposition believed that because of Jackson's veto he would not win in the election. Jackson would still win re-election while onhy losing some votes.
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Henry Clay, Danial Webster, and other Jackson opponents would put in the renewal of the 2nd charter bank early, and they also expected Jackson to sign it because they believed if he didn't, he had no chance in his reelection. Henry Clay would also end up being Jackson's opponent in his reelection.
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The Bank War would be ignited because of the conflict of Jackson not renewing the Charter of the 2nd Bank. Despite passing through congress, the president, Andrew Jackson would veto the charter.
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Andrew Jackson's vice president, John. C Calhoun would resign amid the disagreements with Andrew Jackson; he would become the first vice president to do so. He would become a Senator in South Carolina.
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Andrew Jackson would order to stop putting deposits of the government's money into the 2nd Bank. Later on they would also gradualy withdrawl the money held.
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In response of the diversion of bank funds, the president of the bank, Nicholas Biddle, would reduce the government's loans and calling in debts.
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Andrew Jackson would end up firing his Secretary of the Treasury since he refused to stop the deposits to them, national bank.
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The Philidalphia Board of Trade would blame the financial panic on Andrew Jackson and his adminstration.
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During the bank war and the opposition Jackson collected it created the next political party, the whigs. The whigs believed in the national bank and wanted it to stay. The founder of the Whigs would be Henry Clay.
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The Treasury Department would issue the Species Circular, which would make it, so payments had to be in gold or silver for public lands. Jackson's critics would consider this the cause of the panic of 1837
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After the national Bank closed in 1836 and there was no way to regulate state banks, they started to print money at a very high rate. Due to the insane speed that the banks were printing, money inflation skyrocketed and with Jackson's favor of hard currency, investors started to panic, and banks started to close.
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The election of 840 would be between Wiliam Henry, a Whig, and Martin Van Buren. Wiliam Henry would end up winning and become the first Whig president.