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Andrew Jackson strongly apposed the National Bank.
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Why were some people opposed to the national bank?
it was very expensive to operate the national bank
When did congress charter the Second Bank of the US?
It was chartered in 1816.
What was chartered by congress in 1816?
second bank of the united states
What political party opposed a national bank?
Thomas Jefferson's Democratic Republicans were opposed to a national bank. They thought that it would give the Federal government too much power and lead to manipulation of the economy by the government. Cycles of inflation and deflation occur naturally in a free market, but a national bank would allow the government to artificially create and control inflation and deflation by controlling the money supply. They were also concerned that it would tend to help manufacturing industries in the cities rather than agricultural plantations.
Is the national bank and the second bank of the US the same?
The National Bank and the Second Bank of the United States are the same. The term national bank can refer to the Bank of North America as well as the First Bank of the United States.
