Databases

1. Title - A Jackson Man: Amos Kendall and the Rise of American Democracy
Author - Mark R Cheathem
Journal Name - Journal of the Early Republic
Database - Elibrary
http://elibrary.bigchalk.com/elibweb/curriculum/do/document?set=search&dictionaryClick=&secondaryNav=&groupid=1&requestid=lib_standard&resultid=8&edition=&ts=D26A230F6D0D81E38821FA2EB7799F0C_1280214972071&start=1&publicationId=&urn=urn%3Abigchalk%3AUS%3BBCLib%3Bdocument%3B106981053


2. Title - International Banking Crises
Author- Benton E Gup
Database - Netlibrary/ebooks

http://www.netlibrary.com/Reader/

Internet

I used this site because it was very knowledgeable about the bank war. it had a lot of information about the reasons that Jackson vetoed the bill and all what the supreme court did to him and how he became the first president to redefine the presidency.

http://americanhistory.suite101.com/article.cfm/andrew-jackson-bank-war

Podcast

Andrew Jackson: Reinventing the Presidency
http://www.youtube.com/watch?v=G7OiNxkifX8

I found this video using Bing. It does a good job on talking about what situations that Andrew Jackson had to face while he was president but also how he completely reinvented the presidency. He showed that the president has more authority than Congress was allowing them to use.

Related Blog

Second Bank of the United States
http://www.u-s-history.com/pages/h256.html

I used Bing to find the page. I could not find a blog about the Second Bank of American or Andrew Jackson's Bank War. I found this page with information about the National Bank that were created and some of the issues that they had to go through and problems that the Bank had to face.

The End of the Bank

The Republican party greatly underestimated the public resentment towards the Bank. The Bank tried to change the public opinion by protesting "King Andrew" by printing out his veto message and passing them out around the country. The Bank was disappointed when it came time for re-election and the most of the public still sided with Jackson and he won the re-election in November. after being re-elected Jackson used his advantage by ordering a withdraw of all federal refunds from the Bank. He had to fire two treasury secretaries before one of them carried out his order. Without the money of the federal government the bank had virtually no money to be able to loan out so that they could get that money back plus interest. The Bank was pretty much crippled the Bank until its charter expired in 1836. Jackson considered himself to be completely victorious. The bad thing behind Jackson firing the two treasury secretaries and withdrawing the funds was the he became the first and only president to be censured in American history. though Jackson was censured the victory was very important for future president because it increased their power and started a trend to exert more authority.

Bank's Recharter Vetoed

With the Bank's recharter request coming up in 1836 Congress went ahead and decided to make part of the presidential election in 1832. The election was between Andrew Jackson and Henry Clay, one of the Bank's biggest supporters. Nicholas Biddle, Bank's president, used tactics to support its followers. The Bank also did something for their biggest supporter, they gave him $100,000 for his presidential campaign. The Bank indirectly controlled thousands of potential voters. Though Andrew Jackson saw the bank a posing a constitutional and political threat. Clay pushed Congress for the passing of the recharter bill, and many believed that Jackson would sign the bill into a law rather than oppose it and risk losing the re-election. To every one's surprise Jackson gave a stern veto to the bill. Jackson had many reasons for vetoing the bill. One reason Jackson vetoed the bill was because the Bank centralized a lot of the financial power in a single institution. Another reason was because the Bank was an unconstitutional monopoly that only helped the rich get richer. Another good reason of Jackson's was that the Bank exercised to much control over the members of Congress. The one reason Jackson did not tell everyone but is the most important is the the Bank and Nicholas Biddle supported Jackson's political enemies.

Second Bank of the US

After the War of 1812, Congress had to created a new charter for the Second Bank because the charter for the First Bank ended before the war and they asked for a recharter at the beginning of the war but Congress's attention was in other places than rechartering the bank. The Bank was also created to stabilize the economy because while the war was taking place and even after the inflation rate was running rampant. Eventually the Bank just made matters worse by printing more paper money than gold that they had to back up the amount of money in circulation. The Bank also increased the amount of lending to other banks and business, while this may have been a good short-term fix in the economy the long run would be very different. For a few years into the late 1810's there was a boom of economic prosperity but that soon lead to the Panic of 1819. The Bank attempted to offset the inflation but actually made the price of the dollar worthless causing many people that had loans from the Bank to be unable to pay them back. With the price of the dollar useless a wave of bankruptcies, foreclosures, and also caused smaller banks to fail. this became the worst depression in US history up to that time. Even though the depression ended in two years many US citizens did not forget the Bank's role that lead the US to a depression.