what is bank war?
The political struggle that developed over the issue of rechartering the Second Bank of the United States
Bank War
The Bank War refers to the political struggle that developed over the issue of rechartering the Second Bank of the United States
who opposed the 1st bus but later supported the 2nd bus UNANSWERABLE
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Bank War [SEP] Introduction
The Bank War refers to the political struggle that developed over the issue of rechartering the Second Bank of the United States (B.U.S.) during the presidency of Andrew Jackson (1829–1837). The affair resulted in the shutdown of the Bank and its replacement by state banks. The Second Bank of the United States was established as a private organization with a 20-year charter, having the exclusive right to conduct banking on a national scale. The goal behind the B.U.S. was to stabilize the American economy by establishing a uniform currency and strengthening the federal government. Supporters of the Bank regarded it as a stabilizing force in the economy due to its ability to smooth out variations in prices and trade, extend credit, supply the nation with a sound and uniform currency, provide fiscal services for the treasury department, facilitate long-distance trade, and prevent inflation by regulating the lending practices of state banks.