Lesson 80: Jackson and the Bank War

     To the western frontier businesses, the second Bank of the US was an enemy that was stealing their financial resources.  They believed their business was their own and they were free to do what they wanted with it.  

 President Jackson, agreed with the westerners, that they should not be dictated by a bank and vowed that if he was re-elected the Bank's charter would not be renewed.  But, Henry Clay and Daniel Webster sent a bill through congress that was supposed to renew the Bank's charter right then in an attempt to hurt Jackson politically.  If he signed the bill, he would lose western support, but if he did not sign, he would lose the wealthy eastern business support. 

 The bill passed Congress but Jackson refused to sign it, Saying the Bank was unconstitutional, even though the Courts ruled that it was.  Thus he earned the nickname "King Andrew I" because he was considered to have misused his power to stop the Bank.