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Jackson, the Bank War, and the Legacy of the Second Bank of the United States.

Authors :
Rousseau, Peter L.
Source :
AEA Papers & Proceedings; May2021, Vol. 111, p501-507, 7p
Publication Year :
2021

Abstract

The article describes the political path through which the U.S. former President Andrew Jackson and his allies destroyed the Bank and the impact of that destruction on the course of the U.S. financial history. It mentions how Jackson objected to using the government's temporary balances for the benefit of shareholders, and viewed the Bank as excessive private control over monetary affairs; and also mentions role of free banking movement in expansion of banking industry in the U.S.

Details

Language :
English
ISSN :
25740768
Volume :
111
Database :
Complementary Index
Journal :
AEA Papers & Proceedings
Publication Type :
Academic Journal
Accession number :
150307476
Full Text :
https://doi.org/10.1257/pandp.20211095