Question

Make a paragraph summarizing Andrew Jackson bank war

Answer 1

When Alexander Hamilton called for presenting the report of Bank of the United States, in his report on a National Bank, he offers to establish a central bank that would help in developing national economy. The bank work via the creation of bank "notes," change some of the gold and silver money which was in the market and in circulation also. This will allow for the growth in business activity without the requirement to depend only on the exports to increase money supply. The First Bank of the United States brought more balance in the currency of the nation and growth to the economy than was expected even by its powerful promoters. But still there are considerable opponents to it as an institution.Facing financial difficulties and higher price accompanying the War of 1812, Congress want to retrieve the central bank. As for the 2nd Bank of the United States was included after the first. It faced the same scrutiny and a long and more difficult fight for the economy of the country.