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.