Question

What was jackson's reason for opposing the second bank of the united states?

Answer 1

-viewed BUS as privileged institution

-all federal tax revenue deposited in BUS

-BUS had unfair advantage over other banks


-BUS stockholders earned interest from deports

-Nicholas Biddle, banks president extended loans to congressman at much lower rates of interest ran bank gave to average citizen

-suspicious of big banks

-thought national bank was a symbol of big business, threat to democracy, and a tool of the wealthy :) hope this helps !