Jackson and the Bank

What effect did President Jackson have on the National Bank?

• President Jackson guaranteed additional funding for the national bank.

• President Jackson served on the bank's board of directors.

• President Jackson passed a series of executive orders so the bank could operate indefinitely.

• President Jackson removed all federal funds from the bank and redistributed them to state banks.

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What action did Jackson take when the National Bank's charter expired?

• He renewed the charter.

• He vetoed the renewal of the charter.

• He ignored the expiration.

• He transferred funds to state banks.

AJ believed the National Bank favored the wealthy because:

• It provided loans only to large businesses.

• It was controlled by foreign investors.

• It offered lower interest rates to the rich.

• It was a private institution with little government oversight.

Who challenged President Jackson's stance on the Bank of the United States?

• Henry Clay

• John Q. Adams

• John C. Calhoun

• Martin Van Buren

What did President Jackson support instead of a large national bank?

• state banks

• personal banks

• stock investments

• interest-free loans

Which of these Supreme Court decisions did President Jackson ignore?

• states can void federal law

• only congress can regulate trade

• American Indians have no land rights

• The Bank of the United States is constitutional

What was Jackson's opinion of the Federal Bank?

• he did not like the bank building and wanted it torn down.

• he felt it only benefited the southern planters

• he felt it only benefited the northern bankers

• he declared the bank unconstitutional

What was one of the main reasons President Jackson opposed the National Bank?

• It was too small to handle the country's finances.

• It was seen as a monopoly that favored the elite.

• It was located too far from the capital.

• It was not profitable enough.

How did President Jackson's actions towards the National Bank reflect his views on federal power?

• He believed in strengthening federal power through the bank.

• He wanted to reduce federal power by dismantling the bank.

• He thought the bank should have more autonomy from the government.

• He wanted the bank to control state finances.

What was the outcome of Jackson's veto of the National Bank's recharter?

• The bank continued to operate as usual.

• The bank was immediately dissolved.

• The bank's power was significantly reduced.

• The bank was taken over by foreign investors.