AskSia

Plus

AndrewJacksonvetoedtherecharteroftheBank of the United States partly because he ...

Oct 15, 2023

AndrewJacksonvetoedtherecharteroftheBank of the United States partly because he believed thatthebank (A) concentrated too much power in the hands of a few people (B) gave too many loans to assist unstable state and local banks (C) was secretly funding the abolitionist movement (D) was overly subsidized by state tax monies (E) planned to create new paper money unsupported by gold or silver

Key Concept

KC-4.1.II.D: In the early 19th century, national political parties continued to debate issues such as the tariff, powers of the federal government, and relations with European powers.

Explanation

Andrew Jackson vetoed the recharter of the Bank of the United States partly because he believed that the bank concentrated too much power in the hands of a few people. He saw the bank as a tool of the wealthy elite and believed it did not serve the interests of the common people. This was part of a broader populist stance that Jackson took during his presidency, which also included opposition to the national debt and support for westward expansion.

Why did Andrew Jackson oppose the Bank of the United States?, What was Andrew Jackson's stance on the national debt?, How did Andrew Jackson's views reflect populist sentiments?, Generate me a similar question