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Jackson vetoes recharter
The recharter bill was passed in 1832, for the renewal of the Second Bank. Andrew Jackson vetoed the bill re-charting the Second Bank in July 1832 by arguing that it was unconstitutional. -
Removal of Federal Deposits
Jackson ordered an end to deposits of government money in the bank, and gradual withdrawals of the money already in its custody. The government deposited its funds in selected state banks, also known as pet banks. -
Biddle response
Biddle was the president of the Bank of the United States. He blamed Jackson for all of the financial panic, and gain a large group of supporters. Congress voted to recharter the bank, and Jackson vetoed it again. Biddle and his supporters claimed that Jackson was abusing his executive power.