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Period: ____ Handout #_____
WEIGHING THE EVIDENCE - SECOND NATIONAL BANK BACKGROUND INFORMATION:
Perhaps Jackson’s most hard fought battle was one that dominated his second term. Andrew Jackson was at war with the Bank
of the United States. The bank was the birth child of Alexander Hamilton. But when the country went into an economic
downturn most people blamed the bank. The majority of these debtors were westerners who had borrowed money to buy
land and farm equipment to start small businesses. The Bank of the United States was mainly controlled by wealthy Eastern
investors. Jackson was convinced the bank was the tool of the rich and powerful and needed to be demolished. Jackson
wanted to help smaller businessmen and farmers borrow money to grow and make money. When the time came, President
Jackson passionately rejected a bill that would have renewed the Bank of the United States. At the beginning of his second
term, Jackson ordered his secretary of the Treasury to take the money out of the National Bank and deposit it into state banks.
By 1836, the Second Bank of the United States was reduced to just another state bank.
Andrew Jackson’s Bank Veto Message to Congress - July 10, 1832
“...The present Bank of the United States ... enjoys an exclusive privilege of banking, almost a monopoly of the foreign and
domestic exchange. It appears that more than a fourth part of the stock is held by foreigners and the rest is held by a few
hundred of our citizens, chiefly of the richest class. Of the twenty-five directors of this bank, five are chosen by the
government and twenty by the citizen stockholders... It is easy to conceive that great evils to our country... might flow from
such a concentration of power in the hands of a few men irresponsible to the people. It is to be regretted that the rich and
powerful too often bend the acts of government to their selfish purposes.”
1. What is a monopoly? Why does President Jackson view the Bank of the United States as a monopoly? ______________
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Daniel Webster’s Reply to Jackson’s Bank Veto Message - July 11, 1832
“ It (Jackson’s Bank Veto Message) extends the grasp of (the chief executive) over every power of the government... It sows...
the seeds of jealousy and ill-will against the government of which its author is the official head. It raises a cry that liberty is in
danger, at the very moment when it puts forth claims to powers heretofore unknown and unheard of... It manifestly seeks to
inflame the poor against the rich, it want only attacks whole classes of people, for the purposes of turning against them the
prejudices and resentments of the other classes.
2. Based on his response to Jackson’s Bank Veto, predict Webster’s background. (Where was he from? Wealthy? Job? )
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3. Infer - How do you think that the citizens of the United States perceived President Jackson’s veto? Be specific!
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Henry Clay’s Speech Regarding Jackson’s
Use of the Veto - July 12, 1832
“The veto is an extraordinary power, which though tolerated
by the Constitution, was not expected to be used in
common, frequent, or ordinary cases. This restricted power
has been used sparingly, and with great care by previous
presidents. During President Madison’s administration of
eight years, there occurred but two or three cases of its
exercise. During the last administration, I do not now
recollect that it was used once. In a period little upward of
three years, President Jackson has employed the veto four
times. We now hear quite frequently, in the progress of
measures through Congress, the statement that the
President will veto them, urged as an objection to their
passage. The abuse of veto power is hardly representative
of the genius of a representative government….
4. How does Henry Clay feel about Andrew Jackson’s veto of the Second National Bank? Explain. __________________
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**WEIGHING THE EVIDENCE**
INEFFECTIVE SOURCE SUMMARY Cite and describe evidence that proves
that Jackson was an ineffective (BAD)
leader. EFFECTIVE SOURCE SUMMARY Cite and describe evidence that proves
that Jackson was an effective (GOOD)
leader. WHAT ARE YOUR THOUGHTS?
Based on the documents, was Andrew
Jackson an effective or ineffective leader?