Andrew Jackson

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Andrew Jackson

    Born to Irish immigrants on March 15, 1767, Andrew Jackson was to become the first "rags to riches" President the country had ever seen. He grew up in South Carolina and fought in the Revolutionary War at only thirteen. His entire immediate family, parents and siblings, died as a cause of the war, whether it was being killed in battle or death from disease. He went on to serve two terms as the seventh President of the U.S., leaving behind a legacy of administrative policy and even his own democratic philosophy.
    The Second Bank of the United States was founded in Philadelphia in 1816. It was mainly a Republican project and a response to the expiration of the First U.S. Bank's charter. It was created as a safe place for federal funds, and because state banks were seen as insufficient for handling financial needs. Currency differed by state, counterfeit money was everywhere, and state banks often issued notes without any gold or silver, the only trusted currency, to back them up. The bank was not met everywhere on friendly terms.. Maryland, in an effort to destroy the Baltimore branch, passed laws to heavily tax it, but the Supreme Court removed those laws, strengthening the central federal power.
    The Second Bank's charter expired during Jackson's administration in 1836. Most people were distrustful of the bank, as it had enormous power to ruin state banks and was basically unresponsive to the people's needs. It had powerful political influence also, ...

Submitted by: digitalessays
Date Submitted: 08-09-09 9:07pm
Category: History
Words: 1221
Pages: 4.88