Burying Biddle's Bank Corey Berebitsky, Meagan Kuniega, & Simone Light 2nd period Q( -_-)_I _Q(-_-) o.

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Presentation transcript:

Burying Biddle's Bank Corey Berebitsky, Meagan Kuniega, & Simone Light 2nd period Q( -_-)_____I__ ___Q(-_-) o

The " Mother Bank" a.k.a Banks of the U.S is gravly ill while Andrew Jackson is pleased

Andrew Jackson:(March 15, 1767 – June 8, 1845) -Wanted to kill bank -Withdrawled federal funds -Jackson was a politician and army general -Nicknamed "Old Hickory" -Toughness and aggressive personality Nicholas Biddle: (January 8, 1786 – February 27, 1844) -Began to call for unneccessary loans, personally creating a mini panic -After Biddle moved to the Pennsylvania State Senate, he lobbied for the rechartering of the Second Bank of the United States -American financier who served as the president of the Second Bank of the United States MAJOR PEOPLE:

Democracy vs. Jackson's presidential power -Jackson wanted to get rid of the US bank because he beleived that the bank served as a private institution, not for everyone, but only for high class group of moneyed investors -The bank also went against American democracy -Bank was not helpful to people in the west by foreclosing on many western farms

Jacksons attempt to kill the U.S Bank He proposed no more funds with Biddle He Proposed gradually shrinking existing deposits Funds placed in State "Wildcat Banks Authorized Treasury to issue the Specie Circular- all metallic money.

Andrew Jackson faces off against Nicholas Biddle