Second Bank Research Paper

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Abstract: (cover and first page) Welcome! Here you will learn about the First and Second Banks of the United States. Over the course of their history, these banks have been the center of much disagreement, tension, money, and power. These famous historic landmarks are great outings for family trips, or educational tours! The First Bank of the United States The First Bank of the United States was built in 1791. This was the first attempt at a privately owned national bank in the United States. Its main jobs were commercial business, taxes, and money coming in and out of the government. The bank was also built because the state currencies had been outlawed by the Constitution. This meant that the government could keep track of all of…show more content…
The bank was built in Independence National Historic Park in Philadelphia. The bank operated from 1816 to 1836. Many people, mostly from the southwest, were skeptical of the Second Bank of the United States because they thought the Bank was a tool to make the northeasterners rich. Some also said that so much power should not be held in one place. The worst part was, the people did not have any say in what happened at the Bank. This scared people because they did not trust the Bank, and they thought that the electorate should decide the future of their…show more content…
He wanted to put the money stored in the bank into the State banks instead, but it was not his decision to make. It was the treasurer's decision to make. Unfortunately for him, the running treasurer at the time, Louis McLane, did not agree with President Jackson. Jackson replaced him with William Duane, a man Jackson knew was against the Second Bank of the United States. Once Duane got the job, he realized that the money was actually safer in the Second Bank. In response, Jackson found yet another treasurer for the bank, Roger Taney. Unlike Duane, Taney stuck with his belief that the bank was not a good idea, and he came up with a plan to get all of the money out of the Second Bank and into the State Banks. Whenever Taney received money for the government, he deposited it into state banks. When he got bills to pay, he used the federal bank to pay them. By the year 1833, all of The United State’s money lay within the State Banks, rather than the Second Bank of The United

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