AP US History in 1 Minute Daily: The Bank War (Day 105/309)

Welcome to today’s explanation of the Bank War in my series- APUSH in 1 Minute Daily!

King Andrew The First, Wikimedia Commons

While Jackson was president, he vetoed congressional bills 12 times which was more than all six prior presidents combined. One of his most controversial actions was to veto the rechartering of the Bank of the United States.

Jackson battling the many headed monster of the bank, Wikimedia Commons

The bank was privately owned and Jackson viewed it as serving only the interests of the wealthy and elite. Additionally, despite an earlier Supreme Court decision, he believed the bank was unconstitutional.

Satire on the public conflict between Andrew Jackson and Nicholas Biddle over the future of the Bank of the United States, Wikimedia Commons

Thus, in 1832, when Congress passed a bank-recharter bill, Jackson vetoed it and ordered the withdrawal of federal deposits and placed them in state-chartered banks, known as “pet banks.”

Early Whig Party Campaign Poster, ThoughtCo

This led to increased opposition to Jackson which fueled the rise of the Whig Party. Additionally, a financial crisis ensued.

When Jackson vetoed the rechartering of the Bank of the United States, he once again expanded the role of the executive office. The controversy of the Bank War led to the rise of the Whig Party and an economic depression.

Join me tomorrow as I explain the Panic of 1837 in the next APUSH in 1 Minute Daily!