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2nd Bank 1816
Five years after the creation of the first Bank of the United States, the charter document expired. As a result of this, a Second Bank of the United States was created. -
McCullough vs. Maryland
On March 6, 1819, the Supreme Court met to determine whether or not states had the right to tax on a national level. The Supreme Court ruled two things, that the bank is constitutional, and that the states do not have the power to tax on a national level. This seperates the state and the federal powers and places a check on those powers. -
The Bank War
The Bank War was a war between the Bank and President Andrew Jackson. Jackson distrusted the Bank and its powers, and did not support it. Jackson did not want the Bank to be rechartered in 1836, and vetoed the idea of the Bank being rechartered. The impact of this was that Jackson went against the Supreme Court's ruling in the McCullough vs. Maryland court case that the Bank was constitutional. Jackson claimed the Bank was unconstitutional. -
Jackson Vetos the Bank
On July 10, 1832, President Andrew Jackson vetoed the rechartering of the Bank of the United States. Jackson sincerely stated how he felt that a Bank was good for the United States, but it would not help with expansion and industrialization and basically stated the the Bank would not be in the best interest of the United States. -
Andrew Jackson Shuts down the Second Bank
On Septermber 10, 1833, Andrew Jackson shut down the Second National Bank. Andrew's reasoning behind shutting down the Bank was that it did not provide the funding for western expansion, lack of Congress's involvement in the Bank's business dealings, and he was against the power that the Bank held. Therefore, Jackson used his executive powers to shut down the Bank and brought a close to the "Bank Wars."