Class Notes

Andrew Jackson’s biggest political concern coming into office was the Second Bank of the United States (BUS).  During the 19th Century banks and tariffs were two of the biggest concerns.  Jackson himself completely distrusted the BUS, as most westerners did.  It represented the worst of big government.  Jackson went even further and distrusted paper money in general.  He had been hurt earlier in his life by accepting paper money, which at this time basically meant a promissory note from a bank.  He used the notes to buy a store, but the bank ended up not being able to pay note and Jackson lost everything.  If a bank could hurt him, it could hurt the nation and so Jackson made it his mission to kill the BUS and kill it he did.  However, it also created one of the greatest economic panics of the 19th Century.

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