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amid [387]
3 years ago
13

Why did Madison recharter the Bank of the United States?

History
1 answer:
zysi [14]3 years ago
5 0

Answer:

<h3>The War of 1812 had left a formidable debt. Inflation surged ever upward due to the ever-increasing amount of notes issued by private banks. Specie was jealously hoarded. For these reasons President Madison signed a bill authorizing the 2nd Bank in 1816 with a charter lasting 20 years.</h3>
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