How Did Andrew Jackson Abuse His Power

Jackson escalated this so-called "Bank War" in 1833 when he removed federal government funds that were on deposit with the BUS and distributed them to loyal state banks. That’s not right of him to do that, in my opinion it doesn’t matter if he’s president or not. It posed as a threat to him and he feared for his own power. Jackson did not even like paper money anyways. He preferred to use coins instead, so putting him on money he wouldn’t even approve of us using is idiotic.

Another reason why Andrew Jackson’s presidency was different was because of his attack on the Bank of the United States. In 1832, Andrew Jackson vetoed the bill to recharter the bank. Jackson believed the bank had an unfair advantage over the other banks. The national bank would get all the federal tax revenues instead of the state or private banks. Also the bank’s president, Nicholas Biddle would extend loans to the men in the congress at lower rates of interest than he would do to regular people. Because Jackson thought the bank was unjust he took away its federal charter and the bank became a state bank. Jackson appointed a secretary of treasury after his reelection in 1832. The secretary of treasury placed all government funds in certain state banks, otherwise known as the pet banks. The national bank became the Philadelphia bank for a while until it went out of business.

The Bank Recharter Bill of 1832 was a bill designed to renew the corporate charter of the Second Bank of the United States. Although Congress passed the bill, Andrew Jackson vetoed it a week later. President Andrew Jackson opposed the Second Bank of the United States because he believed that it held too much power without accountability and that it was unconstitutional.The bank was heavily biased toward business interests and had no congressional oversight. This bias led the bank to not support western expansion, which Jackson favored. Jackson also felt that the bank was too powerful, both politically and economically.

President Jackson acted undemocratically because of his actions against the national bank. On July 10th, 1832, Jackson sent a bank veto message to congress. The message was sent to remove the US National Bank because it was only helpful for a wealthier class for things like investments. Citizens from wealthier classes were outraged by Jackson’s actions. Former senator Daniel Webster replied to Jackson message saying, “It manifestly seeks to

Andrew Jackson was the seventh president of the United States. His presidential term was from March 4, 1829 to March 4, 1837. Jackson was not about banks. Jackson hated the idea of the Second Bank charter renewal. One of Jackson’s famous quotes was; “The Bank… is trying to kill me, but I will kill it.” Jackson’s opinion of the Bank of the United States was that it was dangerous to the liberty of the people. Jackson’s opposition to banks became like an obsession. In 1832, Jackson vetoed the bill calling for an early renewal of the Second Bank’s charter even though the renewal was still possible when the charter expired in 1836. In order to prevent that from happening, Jackson set out to reduce the Bank’s economic power. Jackson acted against the advice of many congressional committees and several cabinet members. On October 1, 1833, Jackson announced that federal funds would no longer be deposited in the Bank of the United States. Jackson began placing the

Although Jackson was a hard money supporter, he was sensitive to his many soft money supporters, and made it clear that he would object to renewing the charter of the Bank of the United States, which was due to expire in 1836. When Jackson could not legally abolish the Bank of the United States before the expiration of its charter, he weakened it by removing the government’s deposits from the bank. Jackson fired two of his secretary of treasury when they refused to carry out the order because they believed that such an action would destabilize the financial system. Jackson got Roger Taney to carry out his order. Taney took the deposits out of the Bank of the

Jackson resented banks because he was a man who came from a family of poor farmers who paid with goods and crops. He saw banks as only useful to the wealthy, so when Henry Clay proposed “The Bank Bill”, which was in favor of the recharter, Jackson vetoed it. Andrew Jackson only thought about himself, and people who were like him, poor farmers. In total, vetoed twelve bills during his presidency, which was more than all of the preceding presidents combined. Again, Jackson set his mind to do something, and it was done.

With the Jackson administration into office, the Second Bank of the United States became threatened. President Jackson had a private prejudice that wasn’t party policy (Schlesinger 74). He hated banks, all banks, but he especially hated the Second Bank of the United States. He viewed all bankers as “little more than parasites who preyed upon the poor and honest working people of America” (Roughshod 2). The reason for his hatred most likely stemmed from his near ruin as a businessman (land speculator, merchant, and slaver trader) when in the 1790s he accepted some bank notes that turned out to be worthless. From then on, he never trusted anything but hard money, or specie (Roughshod 2).

After fighting the Indians and secessionists, he suddenly faced his most daunting enemy: the Bank of the United States. The bank war was the central political controversy of his administration. The bank war began in the summer of 1832 when Congress, led by Henry Clay, renewed the bank’s charter. Clay pushed the bill through for political reasons and presented it to Jackson. President Jackson stated, “The bank is trying to kill me, but I will kill it” (Jackson). Jackson vetoed the bank bill and returned it to the Senate. He thought he was right and the bank was wrong. Jackson closed the bank when it still had four years left on its existing charter. In the summer of 1833 while Congress was in recess, Jackson ordered his treasury secretary to redirect federal deposits from the Bank of the United States to various state banks. What Jackson wanted to do was not legal at all because he had to fire a couple of secretaries of the treasury until one secretary did what he wanted done. When Congress returned and found out what Jackson had done they censured him because of his actions. By 1836, the Bank of the United States was dead. One more time, Jackson is perceived as a king because of the way he did certain things. The way he closed the bank, when the bank still had four years left to be open, proves the type of supreme leader he thought he

Andrew Jackson was the president of the US from 1828 to 1836. As a president he was known to abuse his power using the Constitution as his backbone. Having little respect for the Constitution, he was okay with twisting its words to keep more power for the Executive branch of government. Even Thomas Jefferson, one of Jackson’s role models, believes that “he has had very little respect for laws and constitutions”. Though he made his decisions using the Constitution to back them up, his interpretation may have not been popular amongst many people.

What was Andrew Jackson’s problem with the 2nd U.S. Bank? At first he was concerned with the Bank’s constitutionality but it eventually evolved into a quest to kill the Bank. When the Bank first started out it was given $35,000,000 and by the time Andrew Jackson became President the Bank was run by Nicholas Biddle. Daniel Webster and Henry Clay had to file for the Bank to be chartered again. When Andrew Jackson heard this he said to his Vice President “The Bank is trying to kill me sir, but I shall kill it!” (Andrew Jackson) His reasons behind his hate for the bank were a combination of his past financial problems, his Tennessee roots and his view on states’ rights. For letting his past experiences get the better of him he

(Question II): Andrew Jackson, seventh U.S. president and first democratic president, took two attempts to win the presidency; losing in 1824 but winning in 1828. He vowed to slay the “hydra of corruption”, by removing all corrupt and “lazy” government officials that had been appointed. Jackson had bad blood with the U.S. banking system and would actively seek to rid the union of its corrupt activities. His presidential legacy is defined by his forced migration of several Indian tribes which became famously known as the “Trail of Tears”.

The Bank of the United States was technically the second bank of the U.S. since the first bank’s charter ended in 1811. The second bank held a monopoly over federal deposits, provided credit to growing enterprises, issued banknotes that served as a dependable medium of exchange, and used a restraining effect on the less well-managed state banks. Jackson didn’t trust the bank and thought it had too much power, so Jackson sought out to destroy it. There were two different groups when it came to opposition, “soft-money” and “hard-money”. Soft money supporters were progressive, they believed in economic growth and bank speculation. They supported the use of paper money and were mainly made up of bankers and allies to bankers. Hard money supporters were against expansion and bank speculation. They supported coinage only and rejected all banks that used paper money, which included the federal bank. Jackson was a hard money supporter although, he felt sympathy to the soft money supporters. Jackson could not legally end the bank before its charter expired. By removing the

If I lived back in the Jacksonian Era, my view of the man would be very unpleasant. These actions are something that a tyrant would do, like King Louis XIV or Muammar Gaddafi, who totally ignored their nations’ rights. I believe Andrew Jackson ignored two branches of the United States government; the legislative and the judicial branches. He vetoed laws that he believes that hurt the country, but in my eyes, the Bank was always needed, especially in their time of economic crisis. He also ignored the decision of the Supreme Court in the Cherokee vs. Georgia case, something that a President should not do. I do acknowledge Andrew Jackson’s protection of democracy and

Many Southern states opposed the Second Bank of the United States, one of those was the state of Maryland that took James Culloch to court for not paying a tax that limited the bank's operations. The case was taken all the way to the Supreme Court, where they ruled that the Bank was constitutional. When Nicholas Biddle pushed to renew the Bank’s charter, Andrew Jackson, who hated and opposed the Bank, vetoed the legislation. Jackson moved funds to state banks that offered easy credit terms, which led to inflation; Jackson slowed this by only allowing government land to be bought with gold and silver, which ended up hurting the economy in the future.