The Bank War

By Josua3710
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    Events of the Bank War

  • Jackson Veto

    Starting off the Bank War, Jackson vetoed an early renewal of the Bank as he considered it to be unconstitutional and set off alarms in his political opponents

  • Presidential Election of 1832

    With the Second Bank as the main focus of the election, each side of the candidates aggressively campaign in order to either hopefully keep the Bank running (Clay) or to put the nail in the coffin (Jackson)

  • New Party Formed

    In opposition to Jackson's policies, a new political party was formed, lead by Henry Clay

  • Transfer of funds

    Jackson moves to store federal funds instead of the National Bank, in one of the moves caused by him to less the power of the bank

  • Nullification Crisis

    A splat between the federal government and South Carolina, which the latter fussed about an tariff they hated

  • Nullification Negotiation

    With help of Henry Clay, negotiations were made to ensure force was not used over the issue of Nullification

  • Death of the US bank

    With all hopes of the charter of the Bank being renewed in 1834, it is considered a lost clause and in 1836, the charter expires

  • The Panic of 1837

    Thanks to the loss of the US Bank, and most of the US money being placed in favored "pet banks" which relaxed their borrowing and lending procedures and thanks to polices which made only buying land harder, it caused a less supply of cash.