Question

explain why president james madison authorized the second bank of the united states. what problems did it solve?​

Answer 1

The authorization for the Second Bank of the United State was very important because, during that period, America was mostly a rural country that wanted to become industrialized. But there was a disarray of unregulated currency and lack of fiscal order. America was without a bank for four years and even though James Madison opposed the need for another national bank, he also believed it was necessary, so he signed the act on April 1816.

Answer 2

Answer:

The Second Bank of the United States was chartered for many of the same reasons as its predecessor, the First Bank of the United States. The War of 1812 had left a formidable debt. For these reasons President Madison signed a bill authorizing the 2nd Bank in 1816 with a charter lasting 20 years

Explanation: