This bill passed Congress, but Jackson vetoed it, declaring that the Bank was "unauthorized by the Constitution, subversive to the rights of States, and dangerous to the liberties of the people." After his reelection, Jackson announced that the Government would no longer deposit Federal funds with the Bank and would place them in state banks.
No taxation without representation" is a political slogan originating during the 1700s that summarized one of 27 colonial grievances of the American colonists in the Thirteen Colonies, which was one of the major causes of the American Revolution.