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President Jackson vetoes legislation to recharter the Second Bank of the US

The Bank War was a political struggle that developed over the issue of rechartering the Second Bank of the United States (B.U.S.) during the presidency of Andrew Jackson (1829–1837).

The Bank War was a political struggle that developed over the issue of rechartering the Second Bank of the United States (B.U.S.) during the presidency of Andrew Jackson (1829–1837). This resulted in the shutdown of the Bank and its replacement by state banks.

The Second Bank of the United States was chartered for twenty years as a private institution with exclusive authority to operate on a national scale. While its stated purpose was to stabilize the American economy through a uniform currency and stronger federal presence, critics questioned whom it truly served. Supporters claimed that the Bank helped regulate prices, extend credit, provide a reliable currency, and offer essential services to the Treasury.

Historical Significance

The Bank War was a political struggle that developed over the issue of rechartering the Second Bank of the United States (B.

Events Before

  1. Slave plantation owner Charles Farquharson begins his diary at Prospect Hill Plantation, Watlings Island (San Salvador),

    Slave plantation owner Charles Farquharson begins his diary at Prospect Hill Plantation, Watlings Island (San Salvador), the only plantation diary to survive from the Bahamas (ends Dec 1832) [1]

  2. Soldier and future Confederate General Robert E. Lee (24) marries Mary Custis (22) at Arlington House, Arlington Virgini

    Soldier and future Confederate General Robert E. Lee (24) marries Mary Custis (22) at Arlington House, Arlington Virginia

  3. "America (My Country 'Tis of Thee)" with lyrics by Samuel Francis Smith has its first public performance at Park Street

    "America (My Country 'Tis of Thee)" with lyrics by Samuel Francis Smith has its first public performance at Park Street Church in Boston, Massachusetts

  4. Ioannis Kapodistrias, the first Head of State of modern Greece, is assassinated in Nafplion

    Count Ioannis Antoniou Kapodistrias, sometimes anglicized as John Capodistrias, was a Greek statesman who was one of the most distinguished politicians and diplomats of 19th-century...

  5. Michael Faraday demonstrates his dynamo invention, an electric generator

    Michael Faraday (22 September 1791 – 25 August 1867) was an English chemist and physicist who contributed to the study of electrochemistry and electromagnetism.

Events After

  1. Curaçao census: 2,602 white people, 6,531 free people, 5,894 enslaved people

    Curaçao census: 2,602 white people, 6,531 free people, 5,894 enslaved people

  2. French composer Hector Berlioz (29) weds Irish actress Harriet Smithson (30) at the British Embassy in Paris, France

    French composer Hector Berlioz (29) weds Irish actress Harriet Smithson (30) at the British Embassy in Paris, France

  3. The British Royal Navy arrives at the Falkland Islands and reasserts sovereignty

    In December 1832, the United Kingdom sent two naval vessels to re-assert British sovereignty over the Falkland Islands (Spanish: Islas Malvinas), after the United Provinces of the Río de la Plata...

  4. Britain seizes control of Falkland Islands in South Atlantic

    The occupation of the Falkland Islands and South Georgia and the South Sandwich Islands was the short-lived Argentine occupation of a group of British islands in the South Atlantic whose sovereignty...

  5. Boston Academy of Music, first US music school, is established

    Boston Academy of Music, first US music school, is established

More from the 1830s

Slave plantation owner Charles Farquharson begins his diary at Prospect Hill Plantation, Watlings Island (San Salvador),

Slave plantation owner Charles Farquharson begins his diary at Prospect Hill Plantation, Watlings Island (San Salvador), the only plantation diary to survive from the Bahamas (ends Dec 1832) [1]

Curaçao census: 2,602 white people, 6,531 free people, 5,894 enslaved people

Curaçao census: 2,602 white people, 6,531 free people, 5,894 enslaved people

German Zollverein (Customs Union) comes into effect

The Zollverein, or German Customs Union, was a coalition of German states formed to manage tariffs and economic policies within their territories.

First official horse race in South Australia takes place in Adelaide

Adelaide is the capital and most populous city of South Australia, as well as the fifth-most populous city in Australia.

Frequently Asked Questions

What happened on July 10, 1832?
The Bank War was a political struggle that developed over the issue of rechartering the Second Bank of the United States (B.U.S.) during the presidency of Andrew Jackson (1829–1837). This resulted in the shutdown of the Bank and its replacement by state banks. The Second Bank of the United States was chartered for twenty years as a private institution with exclusive authority to operate on a national scale.
Why is President Jackson vetoes legislation to recharter the Second Bank of the US significant?
The Bank War was a political struggle that developed over the issue of rechartering the Second Bank of the United States (B.

Explore More

July 10 in HistoryYear 1832