Transcript Nicholas Biddle - Solon City Schools

Burying Biddle's Bank
Corey Berebitsky, Meagan Kuniega,
& Simone Light
2nd period
Q( -_-)_____I__o___Q(-_-)
The " Mother Bank" a.k.a Banks of the U.S is gravly
ill while Andrew Jackson is pleased
MAJOR PEOPLE:
Andrew Jackson:(March 15, 1767 – June 8, 1845)
-Wanted to kill bank
-Withdrawled federal funds
-Jackson was a politician and army general
-Nicknamed "Old Hickory"
-Toughness and aggressive personality
Nicholas Biddle: (January 8, 1786 – February 27, 1844)
-Began to call for unneccessary loans, personally creating a
mini panic
-After Biddle moved to the Pennsylvania State Senate, he
lobbied for the rechartering of the Second Bank of the United
States
-American financier who served as the president of the Second
Bank of the United States
Democracy vs. Jackson's presidential
power
-Jackson wanted to get rid of the US bank because he beleived
that the bank served as a private institution, not for everyone,
but only for high class group of moneyed investors
-The bank also went against American democracy
-Bank was not helpful to people in the west by foreclosing on
many western farms
Jacksons attempt to kill the U.S Bank
• He proposed no more funds with Biddle
• He Proposed gradually shrinking existing
deposits
• Funds placed in State "Wildcat Banks
• Authorized Treasury to issue the Specie
Circular- all metallic money.
Andrew Jackson faces off against Nicholas Biddle