Why was Andew Jackson's destruction of the National Bank such a negative thing? Please I need answers ASAP!

Question

Please include sources if you can!

Answer 1

Once Jackson had successfully destroyed the bank, after he left office, the county experienced a severe depression --the most serious to that time-- beginning with the Panic of 1837.

It is debated how much his policies toward the bank may have contributed to this downturn, his turn away from hard currency leading to inflation, and increased debts bu the states: http://en.wikipedia.org/wiki/Andrew_Jackson#Opposition_to_the_National_Bank

At any rate, it is rather clear that any role the government might have played in RECOVERY was seriously hampered by the lack of bank, lack of credit... and the recovery was a very slow one.

For a more detailed discussion of Jackson's precise actions and their consequences, see this link:
"The Celebrated Bank War "
http://www.digitalhistory.uh.edu/database/article_display.cfm?HHID=640

Henry Clay actually warned of dire consequences, as well as looking at the problems that led to the formation of the Second Bank to begin with, in his speech arguing FOR the overriding Jackson's veto of the bill to recharter the bank. What happened looked a bit like his predictions. See: http://alpha.furman.edu/~benson/docs/clay.htm

Answer 2

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Answer 3

This site should tell you everything you need to know
http://ap.grolier.com/article?assetid=0219960-00