Do Now Get a brown book Open your planner Get out your cartoon Show and explain your Trail of Tears political cartoon with your table.

Why did Jackson hate the Second National Bank?

Oh the irony…

Jackson and the Bank - Use page 191 in the brown book to answer the following questions in complete sentences. 1.How much of the Bank of the United States did the government actually own? 2.Who was the president of the bank and why did Andrew Jackson distrust him? 3.A charter, in this case, was a written grant by the congress that created the national bank and defined its rights and privileges. The National’s Bank’s charter still had 4 more years to go, but Henry Clay pushed a bill through congress to renew the charter early. Explain his reasons for doing this. 4.Why did Jackson veto that bill and what was the result? 5.What did Jackson do to end the bank? 6.How did Jackson view the end of he Bank?

1. The US government owned about one fifth of the National Bank, the rest was owned by private investors. 2. Nicholas Biddle was the head of the bank. He was wealthy, educated, upper class, and the polar opposite of Jackson. 3. Clay push the bill early figuring that no matter what Jackson decided (sign or veto) it would hurt is changes for reelection. 4. Jackson vetoed it because he thought it was a “unconstitutional monopoly” meant to make the rich richer. He won the next presidential election because poor framers agreed with him and voted for him. 5. To end the bank, Jackson removed all federal monies from it and placed them in “pet” state banks. 6. Jackson saw the end of the bank as a victory for democracy.