Checkpoint: The Bank War Derek Conway August 13, 2011

The whole bank war began as a problem between Andrew Jackson and Nicholas Biddle. The U.S. Congress was soon drawn into the argument and sided with Biddle. Biddle and Congress opted to keep the National Bank operating but Andrew Jackson vetoed the bill. Congress disregarded the veto and decided to keep the National Bank. The importance to have the national economy supported was Congress reasoning behind this. The Bank housed the U.S.s money; it consisted of money collected from the assets of businessmen to the gold and silver from the national treasury. Quite a few Americans felt that paper money destroyed the economy. Jackson rejected the formation of the National Bank from day one and probably because he was upset that the bank almost made him bankrupt in1804. Jackson believed that by allowing the bank to print paper money, it allowed for the republicans to engage in even more corruptive behavior. He thought it was his responsibility to put an end to the National Bank. Andrew Jackson was eventually successful in tearing it down. The problems of the National Bank reinforced problems already seen within the two-party system. It showed that the Democrats wanted to help keep the economy afloat and help the American citizen where as the Republicans just showed that they were greedy and even trying to swindle the American people out of their money.