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The second bank of the United States was the second federally authorized national bank. It's located in Pennsylvania, Philadelphia and was chartered from February 1816 to January 1836. The bank was special due to being allowed to have branches in multiple different states and lend money to the federal government. -
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This was when the American economy took a big hit and went downhill. Some of the causes for this panic was over-expansion, declining exports, cheaper prices for European imports, among other things. This panic did not end until 1822. -
This election was the 11th presidential election, it was held from October 31th to December 2nd, 1828. It was the same as the 1824 election with the candidates John Quincy Adams and Andrew Jackson. This election was also the second rematch in presidental elections. -
The bill was made worse by Jackson's rejection of the proposal. Deposits that were made in the National Bank were withdrawn and instead put in state-chartered banks. This controversy over the bank shaped political divides and led to the bank's extinction. -
The reason for the charter was for trying to fix the economic troubles that was currently going on. The House of Representatives and Senate passed the bill, however Jackson vetoed it which just caused more issues. -
Jackson vetoed the decision to enlarge the National Bank despite Congress voting to enlarge the Bank. -
The panic of 1837 was an economic panic after the economy took a large hit. Things like profits and the prices of everyday objects dropped severely. Many were out of jobs and western expansion has slowed to a halt. Some causes of the panic were the absence of a national bank, inflation, and the economy growing at a fast rate. -
The independent treasury system was a system that was put into place due to America trying to build up its own financial system. It was also established in order to control and manage government funds. The effect that it had was that it put limits in place on credits and also held back inflation for commerce and the population. -
The election of 1840 was the 14th presidential election, held from October 30th to December 2nd, 1840. The candidates were William Henry Harrison versus Martin Van Buren. The election was won by William Henry Harrison who won by five percent. The reason that this election was so significant was because of how the economy was struggling heavily at the time.