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3 years ago

How did President Jackson respond to Congress’s re-chartering of the Second Bank of the United States?

History

1 answer:

mr_godi [17]3 years ago

5 0

Answer:

He vetoed it.

Explanation:

The Second Bank of the US was created in 1816 because the First Bank’s charter expired and there was no central bank to regulate state banks.

Because of that, the US Congress passed a law that chartered the Second Bank of the US, it was created to help the national treasury.

President Jackson vetoed the recharter of the Second Bank, he believed that this institution endangered the foundations of American liberty and democracy because it encouraged imbalance of power between rich and poor.

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