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The 2nd Bank of 1816 was a fiscal Agent that was to hold federal government deposits, help make payments for the government, and issues debt to the public. The bank would also keep state banks in check. -
The bank wasn't a well sault after thing people didn't like it and neither did President Jackson so he vetoed the bill to recharger the bank and this lead to the destruction of the bank. -
Jackson vetoed the re-chartering bill of the bank and said that it was an injustice. -
These were bank that were designed to receive surplus of the federal treasury funds, these banks were state owned and loyal to the president. -
These were party's that compared the ways of Jackson to the former kings ways. -
Jackson took the federal deposit out of the back and then deposited it into selected private banks. -
This was when government was planning to give a loan interest free to be split into four equal parts but it was 37,000,000 dollars. -
The cause of this was rapid growth and inflation in the economy, collapse of cotton prices, and the deposit act of 1836 -
The economy was in collapse but for a little time there was a recovery in 1838 then for most of the time banks failed, businesses closed, and there was mass unemployment. -
Harris won this in a 5% margin better of popular vote, and then dominated the electoral vote.