President Andrew Jackson announces that the government will no longer use the Second Bank of the United States,the country's national bank,on September 10,1833.He then used his executive power to remove all federal funds from the bank,in the final salvo of what is referred to as the"Bank War."
A national bank had first been created by George Washington and Alexander Hamilton in 1791 to serve as a central repository for federal funds.The Second Bank of the United States was founded in 1816;five years after this first bank's charter had expired.Traditionally,the bank had been run by a board of directors with ties to industry and manufacturing,and therefore was biased toward the urban and industrial northern states.Jackson,the epitome of the frontiersman,resented the bank's lack of funding for expansion into the unsettled Western territories.Jackson also objected to the bank's unusual political and economic power and to the lack of congressional oversight over its business dealings.
Jackson,known as obstinate and brutish but a man of the common people,called for an investigation into the bank's policies and political agenda as soon as he settled in to the White House in March 1829.To Jackson,the bank symbolized how a privileged class of businessmen oppressed the will of the common people of America.He made clear that he planned to challenge the constitutionality of the bank,much to the horror of its supporters.In response,the director of the bank,Nicholas Biddle,flexed his own political power,turning to members of Congress,including the powerful KentuckySenator Henry Clay and leading businessmen sympathetic to the bank,to fight Jackson.
1829年3月入主白宫后，以顽固残忍著称的普通人杰克逊就呼吁对银行的政策和政治议程进行调查。对杰克逊来说，这家银行象征着一个特权阶级的商人是如何压迫美国普通民众的意愿的。他明确表示，他计划挑战世行最高合宪，这让世行的支持者感到非常恐惧。作为回应，该行行长尼古拉斯•比德尔(Nicholas Biddle)展示了自己的政治权力，转而求助于国会议员，包括势力强大的肯塔基州参议员亨利•克莱(Henry Clay)和同情该行的主要商界人士，与杰克逊对。
Later that year,Jackson presented his case against the bank in a speech to Congress;to his chagrin,its members generally agreed that the bank was indeed constitutional.Still,controversy over the bank lingered for the next three years.In 1832,the divisiveness led to a split in Jackson's cabinet and,that same year,the obstinate president vetoed an attempt by Congress to draw up a new charter for the bank.All of this took place during Jackson's bid for re-election;the bank's future was the focal point of a bitter political campaign between the Democratic incumbent Jackson and his opponent Henry Clay.Jackson's promises to empower the"common man"of America appealed to the voters and paved the way for his victory.He felt he had received a mandate from the public to close the bank once and for all,despite Congress'objections.Biddle vowed to continue to fight the president,saying that"just because he has scalped Indians and imprisoned Judges[does not mean]he is to have his way with the bank."
On September 10,1833,Jackson removed all federal funds from the Second Bank of the U.S.,redistributing them to various state banks,which were popularly known as"pet banks."In addition,he announced that deposits to the bank would not be accepted after October 1.Finally,Jackson had succeeded in destroying the bank;its charter officially expired in 1836.
Jackson did not emerge unscathed from the scandal.In 1834,Congress censured Jackson for what they viewed as his abuse of presidential power during the Bank War.