Jacksonian Era Economic Policies

Andrew Jackson, a strong Chief Executive, made significant decisions impacting federal power and the economy. He opposed the Second Bank of the United States, distrusting its influence and constitutionality. Despite its role in the economy, Jackson's campaign against the bank led to its dismantling. His actions contributed to the Panic of 1837, a severe economic depression. Jackson's policies and the resulting economic crisis affected his successor, Martin Van Buren, leading to his defeat in the next election.

What decision did Andrew Jackson make that altered the federal government's role in the economy?

• He increased federal taxes.

• He reduced military spending.

• He supported the Second Bank of the United States.

• He decided to dismantle the Second Bank of the United States.

What was the primary function of the Second Bank of the United States?

• To manage the country's military expenses.

• To regulate international trade.

• To act as the government's financial agent.

• To print money for the government.

Why did many states, especially in the South, oppose the Second Bank of the United States?

• It was too small to handle national finances.

• It was controlled by foreign investors.

• It was seen as benefiting the wealthy elite.

• It was ineffective in managing the economy.

What was the outcome of the McCullough v. Maryland case?

• The bank was declared unconstitutional.

• Maryland was allowed to tax the bank.

• The bank was declared constitutional and did not have to pay the tax.

• The bank was forced to close.

How did Nicholas Biddle attempt to secure the renewal of the bank's charter?

• By bribing Congress members.

• By forcing the renewal during Jackson's reelection year.

• By reducing interest rates.

• By increasing the bank's capital.

What was Jackson's response to the bill for the bank's charter renewal?

• He vetoed it.

• He ignored it.

• He sent it back to Congress for revision.

• He signed it into law.

What was the effect of moving government funds to state banks?

• It reduced inflation.

• It increased federal control over banks.

• It led to massive land grabs and rapid inflation.

• It stabilized the economy.

What was the Specie Circular issued by Jackson?

• A directive to close all state banks.

• A requirement for land payments to be in gold and silver.

• A law to increase taxes on imports.

• An order to print more paper money.

What was one of the main causes of the Panic of 1837?

• A war with a neighboring country.

• Jackson's banking policies and attempt to control inflation.

• A natural disaster affecting agriculture.

• A sudden increase in gold reserves.

What marked the end of the Age of Jackson?

• The start of the Civil War.

• The election of William Henry Harrison.

• The closure of the Second Bank of the United States.

• The election of Martin Van Buren.