Answer:
1. "It appears that more than a fourth part of the stock is held by foreigners and the residue is held by a few hundred of our citizens, chiefly of the richest class"
2. "The president of the bank has told us that most of the State banks exist by its forbearance. Should its influence become concentered, as it may under . . . such an act as this, in the hands of a self-elected directory whose interest are identified with foreign stockholders, will there not be cause to tremble for the purity of our elections in peace and for the independence of our country in war?"
3. " In the full enjoyment of the gifts of Heaven and the fruits of superior industry, economy, and virtue, every man is equally entitled to protection by law; but when the laws undertake to add to these natural and just advantages artificial distinctions, to grant titles, gratuities, and exclusive privileges, to make the rich richer and the potent more powerful, the humble members of society–the farmers, mechanics, and laborers–who have neither the time nor the means of securing like favors to themselves, have a right to complain of the injustice of their Government."
Explanation:
President Andrew Jackson was strongly against the renewal of the charter of the Bank of the United States in the year 1836 because he was not in support of the structure and modes of operation of this entity at that time. That was why when Congress wanted to renew their charter, he vetoed the bill in 1832.
- He believed that the directors in this bank should be mostly composed of Americans who will serve its interest. The infiltration of foreigners as a major part of this bank made America vulnerable before other nations.
- Also, President Jackson believed that the bank mostly served the interest of the rich by making them richer and making the poor poorer.
- It did not also help the State Banks as the State Banks that directly served the American nation was under the mercy of the Bank of the United States. This was unfair.
