He opposed it because he felt that it made the rich get richer and since he favored the common people and felt that it wasn't fair toward the common people .
Back then, the first American national bank was run by wealthy businessmen and elite politicians that only favored the industrial northern states, merchants and wealthy people over farmers, artisans, laborers, and planters. PresidentJackson, being a self-made man, a supporter of the common people, opposed the national bank because it <u>did not provide equal opportunity to all, it violated state sovereignty (each state should have their bank and not be dominated by one large bank) and because he deemed it as a corrupted centralized entity that violated people's liberties.</u>
