41 Facts On The History Of U.S. Central Banking

41 Facts On The History Of U.S. Central Banking - Home - The Daily Bail

#16 In 1816, another central bank was created. The Second Bank of the United States was established and was given a 20 year charter.

#17 Andrew Jackson, who became president in 1828, was determined to end the power of the central bankers over the United States.

#18 In fact, in 1832, Andrew Jackson's re-election slogan was "JACKSON and NO BANK!"

#19 On July 10th, 1832 President Jackson said the following about the danger of a central bank....

"It is not our own citizens only who are to receive the bounty of our government. More than eight millions of the stock of this bank are held by foreigners... is there no danger to our liberty and independence in a bank that in its nature has so little to bind it to our country? ... Controlling our currency, receiving our public moneys, and holding thousands of our citizens in dependence... would be more formidable and dangerous than a military power of the enemy."

#20 In 1835, President Jackson completely paid off the U.S. national debt. He is the only U.S. president that has ever been able to accomplish this.

#21 President Jackson vetoed the attempt to renew the charter of the Second Bank of the United States in 1836.