Such power would have enabled the Bank to also wield a great deal of political power. Jackson was immediately suspicious. In a letter from Colonel James A. Hamilton, son of former Treasury Secretary under George Washington, Alexander Hamilton, which was dated December 9, 1833, Hamilton informed Jackson that Biddle had submitted a bank report explaining that the Bank held a position of being required to carry out “other duties than those to the country. Jackson had ideas of converting the bank so that it was more attached to the government. He continued to reiterate his thoughts about the “dangers” of the bank, and elaborated on his proposal for a modified national bank that would be an adjunct of the Treasury. His issue with the bank resided in the fact that he believed it was a monopoly that the government had no business investing all their money in this privately owned sector.
He also preached that the bank was unconstitutional but in fact this belief is wrong. The Supreme Court ruled that indeed the bank was constitutional under the McCulloch vs. Maryland. Jackson and Taney issued the order of September 25, 1833 which announced that on October 1, 1833, the government would shift from national banking to deposit banking via state banks, of his cabinet only Taney supported him, Taney became Treasury Secretariat after Duane refused, to adhere to Jackson’s requests.
So he moved all the government deposits into state banks. These state banks were known as “pet banks” Issuing his “Specie Circular” in July of 1836, the “Specie Circular” was a decree that only gold and silver could be accepted in purchasing public lands Results of Specie circular: banknotes lost value, land sales decreased, credit not available, businesses failed, unemployment increased. This all lead to the Panic 1837(which occurred during Buren’s presidency. ) Reasons for impeachment: ) McCulloch vs. Maryland. This court case ruled that Congress had implied powers to create the bank, in which case, made the bank constitutional. 2) He violates the separation of powers. Quote from Article 1 Section 8 of the Legislative Branch, “to make all Laws which shall be necessary and proper for carrying into Execution the foregoing Powers, and all others Powers vested by this Constitution in the Government of the United States, or in any Department or Officer thereof. 3) Jackson’s actions to get rid of the bank were unconstitutional. 4) Jackson said that the bank favors the elite, quote, “it would seem to be that the spirit of equity, caution, and compromise in which the Constitution was formed requires that the great interests of agriculture, commerce and manufactures should be equally favored,” yet he imposes the Tariff of Abomination, which benefits Northerners more than southerners.
The Essay on United State Taney Rehnquist Court
Roger b. Taney and William Rehnquist are two Supreme Court Justices separated by a time span of one hundred and fifty years. This distance between them means that while they may share the same views on some political issues, the majority of them will differ. Such differences have had and everlasting impact on the United States and made Taney and Rehnquist two highly recognized historical figures. ...
Hypocrite much. 5) The Bank of the United States concentrated the nation’s financial strength in a single institution. 6) It exposed the government to control by foreign interests. 7) It served mainly to make the rich richer. 8) It exercised too much control over members of Congress. 9) It favored northeastern states over southern and western states.
