Congress passed a charter for a Second Bank of the United States, which Henry Clay himself took part in introducing it. Jackson personally thought the bank was unconstitutional and failed to establish an effective currency. Since the recharter meant that the bank would continue for seven more years and his political opponent Clay took part in establishing it, the president had to do something about it. The bank’s president, Nicholas Biddle, continued to try to stabilize the currency, helped state banks through hardship and expanded the nation’s credit for the next few years. However, it concentrated wealth and power within the economy and Jackson was against that power affecting the common people.
Vetoing is to allow or reject a decision or proposal made by a law-making body. The overall reason Jackson is known to be a tyrant is his abuse of power. The amount of vetoes he confirmed truly justifies the fact that he took advantage of his power. “The Second Bank of the United States was founded in 1816 and had a 20-year charter approved by congress that gave it the power to act exclusively as the federal government’s financial agent.” (Source 4) This is just one of the many examples of Jackson’s vetoes. While Jackson vetoed 12 bills in his time of presidency, other presidents at the time vetoed either none or no more than about 7.
Brittany Randall-Neppl APUSH Period 6 Mr. Kloster 12/19/2014 Andrew Jackson: Champion of the Common Man or Tyrant Andrew Jackson was born into a common life but overcame his mediocre beginnings to become a powerful politician; in 1828 he was elected president of the United States. However, he abused this position of power and made several choices that were detrimental to the welfare and rights of the American people. Jackson implemented the spoils system on a national scale and had unofficial members of his cabinet who did not have to answer to Congress. After South Carolinians were upset by the Tariff of 1832 he was angry toward those who did not agree with it. He also destroyed the National Bank and authorized the Specie Circular.
Not having any proof of his involvement or leadership of this rebellion, Gallatin was not arrested. Gallatin went on to hold the position of Secretary of the Treasury under Thomas Jefferson and James Madison for thirteen years. He was heavily involved, if not responsible for reducing the national debt and was against internal taxes. Gallatin would have been considered a strict constructionist because he believed that the less involvement the government had, the better. He also recommended that the First Bank of the United States be re-chartered, insisting that it could help stabilize the economy.
In the spring of 1868, America was focused on Congress to see if the President was going to be removed from office. Individuals were impeached and removed from office before, however, President Andrew Johnson was the first president to be impeached. Many have regarded Johnson as one of the worst presidents in the history of the United States because of his racism, stubbornness, disastrous Reconstruction policies, and his impeachment trial. Johnson’s impeachment would be the defining point of his presidency and his legacy. This raises the numerous questions such as why was Johnson put on trial; what made Republicans hell-bent on impeaching him; and was Andrew Johnson’s impeachment justified.
Despite it being founded immediately after the his death the secret service was made for a different reason. It was originally created for suppressing counterfeit. During 1865, after the civil war, there was an estimated one third of all currency in circulation that was counterfeit. This caused many problems for the economic system in the United States, thus the Secret Service was made. Laws evolved around counterfeiting were implemented and enforced by the Secret
But, eventually, in the year 1830, things got really bad, the US Gov’t passed the Indian Removal Act and in Georgia the white men held a lottery to give away the Indians’ land. John Ross tried to use diplomacy to have the Cherokee’s rights to the land recognized. He went to the Supreme Court and won against the US Gov’t. The Court agreed that the Cherokees had rights to the land, but the president would not back down. Then in 1835, a few renegade Cherokees wrote up a false treaty and gave it to Congress.
In 1933, Franklin D. Roosevelt became the president of the United State after President Herbert Hoover. The Great Depression was also at its height because President Hoover believed that the crash was just the temporary recession that people must pass through, and he refused to drag the federal government in stabilizing prices, controlling business and fixing the currency. Many experts, including Hoover, thought that there was no need for federal government intervention. ("Herbert Hoover on) As a result, when the time came for Roosevelt’s Presidency, the public had already been suffering for a long time. Half of the banks had closed their doors, more than twenty percent of the US population was unemployed, and the economy was lacking regulation.
The Civil War left traumatized people and many destroyed cities, which led to the Reconstruction. The Reconstruction was the process of trying to rebuild the South after the Civil War. The North and South had an interesting past in the year of 1876. The election of 1876 was a very controversial election, it was the 100th anniversary of the Declaration of Independence.In 1870, Hiram Revels was the first black senator. The North ended the Reconstruction because they were too busy to look after the South, they were racist to African Americans, and they removed soldiers from Southern states.
After the Great Depression, the Bretton Woods pact was not the only innovation, in fact in the US in 1933 had been approved the new legislation for banking, the Glass-Steagall act: the division between the commercial and investment banks. In order to alleviate the problem born in 1929 after the Stock Market Crash there were two acts entering into force. The first one, in 1932, made the Federal Reserve more powerful in control of the money supply. The second wanted to make safer the banking system. In fact after this date banks cannot be commercial and investment banks at the same time, also the insurance services cannot be supply by banks.