jan 1, 1832 - Bank War

Description:

Jackson's opposition to the Second Bank of the United States represented his most significant economic policy:

Viewed the Bank as unconstitutional and a threat to democracy
Vetoed the Bank's recharter in 1832
Removed federal deposits and placed them in state "pet banks"
Issued the Specie Circular requiring land purchases with gold or silver
Contributed to economic instability and the Panic of 1837
Ended the national banking system until the Civil War
The Bank War reflected Jackson's populist suspicion of concentrated economic power and his willingness to use executive authority aggressively.

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