-
It was unpopular in newer states and territories, especially with state and local bankers who resented a virtual monopoly on credit and currency. It was also used to make short-term loans to the government and to establish a sound currency refusing to accept at face value notes issued by state-charted banks. It was chartered for 20 years.
-
This was the first widespread durable financial crisis. Since the boost of the finances of war 1812 stopped and agricultural prices were reduced by half.
-
Jackson was able to be elected for a second term since he won versus Clay. Jackson was able to create the pet banks later on.
-
He vetoed the re-charting of the Second Bank by arguing that in the form presented to him it was incompatible with justice and sound policy
-
The government deposited its funds in selected state banks. Jackson ordered an end of deposits of government money in the bank and gradually withdraws money in its custody.
-
It was a financial crisis that touched off a major depression. Prices, wages, and profits went down. Also, New York City ran out of gold and silver.
-
It was an election between Whig candidate William Henry Harrison defeated Democratic Martin Van Buren. It was recognized as the first real campaign.