HIST308 Lecture Notes - Lecture 11: Precious Metal, National Republican Party, Second Party System
26 Sep 2016
School
Department
Course
Professor
Document Summary
June 1832 milligan (don"t have to remember name ) wrote letter to newspaper in wilmington de. Those also were stewart of pa, duffy from nc with milligan. South already convinced they won"t get what they demand, who feared revolution. 1811 madison pres; hamilton chief opponent; charter of first bank expired ; the year before the war hurt us; had difficult time getting support. 1816 second bank of us chartered; realized the central bank was needed. Veto charter of second bank 1832; supporters of calhoun, webster. Early years the bank did not make good name for itself. The panic of 1819; wasn"t handled well from bank. Cautious, prudent policies, sought to avoid sudden withdrawal or flow of money through economy. Jackson became pres; came to favor hard currency (money backed up by precious metal) Today money is backed by us"s credit. Jackson began to view himself as tribune to the american people.
