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Second Bank of the US
After the first national bank's charter expired the states became overwhelmed. This bank was the second federal Hamiltonian bank in the U.S and it was located inside of Philadelphia. This bank was chartered for 20 years. -
Jackson Veto
Jackson always had distrusted the national bank, so when the bank's supporters pushed for renewal he vetoed it saying no to monopoly and special privilege. -
Presidential Election
Andrew Jackson was re-elected and won the election. Jackson ran against Clay and his platform focused on getting rid of the national bank. -
Pet Banks
Andrew Jackson deposited federal funds into certain state banks in order to put a stop to deposits/withdrawals of government money into banks that are already in custody. -
Economic Depression of 1836
An economic depression rose in 1836 as the prices of goods such as land and cotton rose, which was decided by Andrew Jackson and resulted in failure of banks. -
Election 1836/Creation of the “Whigs”
The Whigs were the political opponents of Andrew Jackson. Their whole manner was opposite of Jackson in which they considered a “Monarchical rule”. They were led by Henry Clay and Daniel Webster who were considered the brilliant ones. But they were too divided to send someone to the election coming. -
Election of 1840
Martin Van Buren was defeated by Henry Harrison