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First Bank Established Chartered
The first bank that was established under Alexander Hamilton's guidance had been chartered for a 20 year period. -
2nd National Bank Chartered
The second bank was once again chartered for another 20 years. The second bank was unpopular in newer states and territories and was resented by local bankers and states. -
Bank Recharter Bill
This is when Daniel Webster and Henry clay had proposed to recharter The Second Bank of the United States charter before it was to expire. -
Jackson Vetoes
Jackson had vetoed the Bank Recharter Bill. He claimed this Bill was "incompatible with justice" as well as the Constitution. -
Election of 1832
Andrew Jackson and Henry Clay were two candidates for this election following the issues surrounding the National Bank. In this election, they represented the Democratic and Republican sides. -
Jackson Removes Federal Deposits
After the issuing of his veto, Jackson continued his attack against the bank by then issuing the removal of federal funds. -
Biddle Response
This is where Jackson had ordered for no more funds to be deposited into banks, and in attempts to keep the bank alive Biddle ordered he pay loans. -
Pet Banks
Jackson had raised seven state banks to spread federal deposits across and had been named "pet" by his opponents, especially the businessmen of New England. -
Pet Banks
In further attempts to crush the Bank of the United States, Jackson had raised seven states to spread federal deposits. It was labeled the "pet banks" by his opposers, mainly the businessmen of New England. -
Speculative Boom
This was a temporary increase of beneficiary for the west, allowing some of the national debt to be paid off, but as it went on questions arose on what to do with the surplus. -
Specie Circular
This was an executive order made by Andrew Jackson that required the payment for government land to be in only gold and silver. This caused problems for many people especially farmers because they were unable to buy land. -
Crash of 1837
This was a financial crisis that led to a drop in prices, profits, and wages as well as unemployment. -
Federal Reserve System
The Federal Reserve System was a system of national charters for local and regional banks.