Andrew Jackson and the Second Bank

The video discusses President Andrew Jackson's campaign to dismantle the Second Bank of the United States, established in 1816. Jackson's opposition stemmed from his belief that the bank concentrated too much power in the hands of a few elites. His actions led to a political battle with figures like Henry Clay and Daniel Webster. Jackson's decision to stop government deposits in the bank led to economic turmoil. Despite a Senate censure, Jackson's stance remained firm, and the bank's federal charter expired. It continued under a state charter until its closure in 1841 due to poor investments and economic distress.

What was the primary goal of President Andrew Jackson's campaign in 1833?

• To establish a new national bank

• To increase government deposits in the bank

• To support the National Republicans

• To destroy the Second Bank of the United States

Why did Jackson oppose the Second Bank of the United States?

• He wanted to create more banks

• He believed it was too powerful and controlled by a small elite

• He believed it was unconstitutional

• He thought it was too supportive of the common people

Who were the key political figures that supported the bank against Jackson?

• Thomas Jefferson and James Madison

• Henry Clay and Daniel Webster

• Martin Van Buren and John Calhoun

• John Adams and Alexander Hamilton

What action did Jackson take against the Second Bank?

• He appointed a new president for the bank

• He increased its funding

• He ordered no more government deposits

• He nationalized it

What was the economic impact of the bank's response to Jackson's actions?

• A credit shortage and business downturn

• An economic boom

• A rise in employment rates

• Increased foreign investments

What resolution did Henry Clay push through the Senate in 1834?

• A resolution to censure Jackson

• A resolution to support Jackson

• A resolution to increase bank funding

• A resolution to dissolve the bank

What happened to the Senate's censure resolution against Jackson?

• It was expanded to include more charges

• It was never passed

• It was expunged from the record

• It was upheld permanently

What did the bank do after its federal charter expired?

• It merged with another bank

• It secured a state charter from Pennsylvania

• It ceased operations immediately

• It became a private bank

What led to the final closure of the bank in 1841?

• Government intervention

• Successful investments

• National economic prosperity

• Faulty investment decisions and economic distress

In what year did the Second Bank of the United States finally go out of business?

• 1873

• 1816

• 1841

• 1833