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DerKrebs [107]
4 years ago
15

What triggered the Panic of 1837?

History
1 answer:
Stella [2.4K]4 years ago
4 0
Jackson’s war on the national bank
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Maysville road: Jackson vetoed the bill on the grounds that federal funding of intrastate projects of this nature was unconstitutional. He declared that such bills violated the principle that the federal government should not be involved in local economic affairs. Jackson also pointed out that funding for these kinds of projects interfered with paying off the national debt.
National Bank veto: <span>As his term continued, Jackson truly grew a desire to crush the Second Bank of the United States. Over time he had decided that it could not continue as it was, and that it did not warrant reform. It must be destroyed. Jackson's reason for this conclusion was an amalgamation of his past financial problems, his views on states' rights, and his Tennessee roots. </span>
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