Author: Weimin Liang
This article aims to analyze the reasons for the Jackson’s bank war over the Second Bank of United States. It shows us a new perspective on the reason, which focuses on the different growth backgrounds of Jackson and Biddle. The President Jackson vetoed the bill for the postponement of the Second Bank of United States. And the different personality of Jackson and the Biddle, the president of the Second Bank of United States are important reasons for that. What’s more, the collapse of the Second Bank of United States prevented the financial power from being too concentrated, which did harm to the state power. The Jackson’s victory establishes the fundamental of Federal Reserve system, and gives the wall street spaces to flourish.
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