Jackson and the Bank Battle

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Title: Jackson and the Bank Battle

Essay Details:

Subject: American History

Author: Richard P

Date: April 16, 2016

Level: University

Grade: B

Length: 7 / 1940

Essay text:

Most of the bank's business would be private and it would be privately run (Remini, "Andrew Jackson and the Bank War," 24). The biggest problem with the banking system of the time was the discrepancy between paper money and "hard money," which is the bimetallic system of gold and silver (Remini, "Andrew Jackson and the Bank War," 25). This led to the challenge of issuing different bank notes at different state branches; the amounts were not always the same and it caused a problem with knowing which medium of exchange was correct (Remini, "Andrew Jackson and the Bank War," 25). The charter on the First Bank of the United States expired in 1811 but, due to financial troubles after the War of 1812, James Madison chartered the Second Bank of the United States on May 10, 1816 (Remini, "Andrew Jackson and the Bank War," 26)...

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