Question

The second Bank of the United States Group of answer choices was considered a great friend to state banks. bowed to political pressure and made no attempt to regulate credit and the money supply. was thought by Andrew Jackson to represent the advancement of the few at the expense of the many. gained strength throughout the life of its first charter, eventually being granted a charter renewal in 1836.

Answer 1

Answer:

was thought by Andrew Jackson to represent the advancement of the few at the expense of the many.

Explanation:

The Second Bank of the United States established and chartered by the US Congress in 1816 after the charter of the First Bank of the United States had expired. It was located in Philadelphia, Pennsylvania, USA and saddled with the same responsibility and federally authorized as the First Bank of the United States of America.

On the 10th of September, 1833, President Andrew Jackson announced officially that the federal government would no longer use or require the services of the Second Bank of the United States of America and as such failed to secure a recharter. President Andrew Jackson thought in his wisdom that the Second Bank of the United States represents an advancement of a small percentage of the population at the expense of a larger percentage.

Consequently, this failure made the bank to become a private corporation and was liquidated in 1836 and 1841 respectively.