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Jackson was in such opposition to the Bank because he believed as a strict constructionalist that it was not written in the constitution. And because he was for the common man, he knew it wouldn't help the lower class. He also thought the institution to be corrupted because Jackson said, it "had been actively engaged in attempting to influence the elections of the public officers by means of its money."
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RafaJackson ran for the presideny in 1824 and won a plurality of both the popular vote and the electoral vote, but he did not get the majority required by the US Constitution for a election and as the Constitution mandates, the House of Representatives, chose the president and picked J.Q. Adams. There was ample evidence that Biddle, the president of the Bank of the US not only favored Adams and campaigned for him, but also offered favorable loans to Congressmen who would support Adams.
Jackson also saw that the bank ,which was blessed with all of the federal funds has a history of meddling in partisan politics and only served the rich establishment along the Eastern shore.
Jackson believed with quite a bit of evidence that the bank, which in those days could make loans, was acting as a political agency, loaning money to people who shared its political views and shutting out the Jackson people. There is little question that most of the bank's loans went to wealthy people living in the coastal states and not many western frontiersmen could get loans.
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Who opposed the national bank?
The Jackson Democrats and their followers were against it. As a group they lived in the West and were none too rich.
What was the national bank debate?
It was the debate that took place between Jefferson and Hamilton about whether or not to establish a national bank! Jefferson was against it and said it was unconstitutional. Hamilton was for it and said it was necessary to keep a stable economy.
How did Jackson weaken the second bank of the US in 1833?
Andrew Jackson announced that the government was no long going to be using the Second National Bank and removed all funds from the bank.
How did political economic and constitutional issues combine to lead to the death of the national bank?
Well, for one thing, I know that Andrew Jackson lobbied very hard to avoid the extension of the charter of the bank. PS: In doing so, he created one of the worst economic crisis in the young nation's history.
Who created the national bank?
Henry Clay
