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Andrew Jackson wanted to get rid of the ONE bank thing and make a bunch of banks.
~Is this correct?
~What was good about his ideas on the 2nd national bank?
~If im correct, he vetoed the national bank and made it into the seperate banks.
~Is that what we have today?

Thanks

2007-03-05 08:35:15 · 1 answers · asked by Shoshanna 1 in Politics & Government Government

1 answers

I'll try to answer this as best I can, I'm about 90% sure I'm right.
Pres. Jackson wanted to eliminate the concept of a national bank all together. He was urged on by his supporters who believed the very concept of a national bank was against civil liberties of citizens, the idea that citizens couldn't get involved in governmental matters. Jackson himself personally hated the 2nd National Bank because he thought it had grown too powerful and corrupt. It's not that he vetoed the bank itself, it was already in existence ever since Madison's administration, Jackson simply refused to re ratify it when its charter expired during his presidency. After that, I'm not too sure, I know that he wanted to split up the idea of the national bank, which he did, but as to the current system, I don't think there is such a thing as a national bank anymore, neither in its pure form as a single entity nor as several small banks. I think the government today just invests in smaller business's and the power of its printing press and treasury.
You know, though, the sheer scope of the size that the government handles (monetarily) is so astronomical, there must be some other entity outside of the treasury, I just haven't heard of one.
Sorry I couldn't have been more help!

2007-03-05 09:41:00 · answer #1 · answered by prince_of_thebes87 2 · 0 0

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