Ch. 14.6 Lesson Review

Ch. 14.6 Lesson Review

2nd Bank of USA

​Battle with the 2nd Bank of the USA

--> 2 observations...

--> What is written on the monster's head?

--> What is Jackson holding?

--> Who is the hero in the picture?

--> What is the message?

Jackson (on the left) raises a cane marked "Veto" and says, "Biddle thou Monster Avaunt!! avaount I say! or by the Great Eternal I'll cleave thee to the earth, aye thee and thy four and twenty satellites. Matty if thou art true...come on. if thou art false, may the venomous monster turn his dire fang upon thee..."
Van Buren: "Well done General, Major Jack Downing, Adams, Clay, well done all. I dislike dissentions beyond every thing, for it often compels a man to play a double part, were it only for his own safety. Policy, policy is my motto, but intrigues I cannot countenance."
Downing (dropping his axe): "Now now you nasty varmint, be you imperishable? I swan Gineral that are beats all I reckon, that's the horrible wiper wot wommits wenemous heads I guess..." The largest of the heads is president of the Bank Nicholas Biddle's, which wears a top hat labeled "Penn" (i.e. Pennsylvania) and "$35,000,000." This refers to the rechartering of the Bank by the Pennsylvania legislature in defiance of the adminstration's efforts to destroy it.

Why Was There a Need for a National Bank?

• Stored federal $$$

• Help to pay off War of 1812 debt

Multiple Select

Why was the Second Bank of the USA started in 1816?

*choose the two correct statements.*

• To store federal money

• To help pay off the Civil War debt

• To help pay off the War of 1812

Opinions of Bank

• Positive Vibes.....

• Nicholas Biddle (wealthy Bank President)

• Henry Clay

• Industrial Businessmen (strong currency & control of economy in 1 spot.)

Multiple Choice

Why did Mr. Biddle, Mr. Clay and wealthy businessmen want the 2nd National Bank?

• The wanted a weak currency

• They like having control of the economy spread out

• They wanted control of the economy in one central location

Opinions of Bank

Negative Vibes...

• Farmers (didn't trust federal government or cities)

• State Banks (did not like National Banks power)

• Andrew Jackson (monopoly on trade...charter taxed American stockholders but not foreign stockholders...not 'run' by supporters, people 'out to get him')

Multiple Select

Which two groups thought that the 2nd Bank of the U.S. held a monopoly of trade and had too much power?

• wealthy businessmen

• state banks

• Andrew Jackson

Start of Bank War

• Henry Clay wanted to recharter the bank 4 years early (1832)

• Clay wanted to run for president in '32

• Wanted to put Jackson in a difficult position......

Sign recharter bill and anger main supporters

veto recharter bill and anger wealthy businessmen in the east

Multiple Choice

"Henry Clay wanted to run for president in 1832. To defeat Jackson he wanted to recharter the National Bank early and force Jackson to make a difficult decision."

What was the difficult decision that Clay wanted to have Jackson make?

• anger either foreign stockholders or American stockholders

• anger either supporters (farmers) or wealthy east coast businessmen

• anger Henry Clay or Nicholas Biddle

National Bank War

• Congress accepted early recharter

• Jackson vetoed it (for the reason only that it was 'bad')

• Jackson had federal funds put into state banks (2 secretary of treasuries did not want to follow this order)

• 1832....Jackson re-elected

• 1836 Biddle's Bank dies

Multiple Choice

What did Jackson do after he vetoed the recharter bill?

• He ordered troops into South Carolina

• He had money put into the National Bank

• He had federal money put into state banks

Multiple Choice

Which timeline shows the correct order of events for the Bank War?

• Clay pushes for recharter...Congress accepts...Jackson vetoes...federal $$$ moved to state banks...Bank dies

• Clay pushed for recharter...Jackson reelected...JAckson vetoes recharter...Bank dies

• Jackson reelected...Clay pushes for recharter...Jackson moves federal money...Jackson vetoes recharter...Bank dies