Comparison Of Andrew Jackson And The Anti-Central Bank Of The United States
In 1775, the Congress printed “continentals,” a paper note that was printed in massive quantities that led to rapidly accelerating inflation, causing them to go out of commission. Later, in 1791, at the urge of then Treasury Secretary Alexander Hamilton, the Congress established the First Bank of the United States, which became the largest company in the nation. The political climate was inclining towards the idea of a central bank again in 1816, so by a narrow margin, the Congress managed to charter the Second Bank of the United States. However, later, Andrew Jackson, an anti-central-bank man, was elected in 1828, and he vowed to stop it. From 1836 to 1865, state-chartered banks and uncharted “free banks” roamed the nation, issuing their