Despite popular belief, Andrew Jackson actually prevented a catastrophic financial meltdown in the world economy by closing a corrupt bank, The Second Bank of the United States. It all started in 1819, nine years before Jackson’s election. “At that time, the Bank was lending credit to smaller state banks. Suddenly, it demanded that all state banks pay back their credit, which caused the Panic of 1819, leading to a decade-long depression” (sparknotes.com). From this, Jackson truly felt that was a disaster was brewing and set out to shut it down. In addition, only the wealthy who invested in this bank gain profit while the common people do not. In regard to bank loans, the wealthy obtained lower interest rates while the poor, who actually need the money, have a tougher time getting any loan. Here the ordinary man was not represented. Instead, it slowed down economic expansion and restricted the rise and success of the working class. Not only did it pose a domestic threat, our national bank could cause international conflict and affect the global economy. Jackson stated ...
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...sions seem unorthodox, but its true purpose emerges in years to come. He transformed our economy into a safe, secure, and prosperous money-making machine. He always stayed firm in federal law dominance and prevented a civil war that would have tore our young country apart. Finally, he maintained domestic tranquility with the Indian Removal Act, satisfying both the white settlers and the Native Americans. Strong-armed and unafraid, Jackson truly was the man of the people. In his farewell address to the country, Jackson reminded the people, “eternal vigilance by the people is the price of liberty,” (sparknotes.com) and encouraged change as a positive boost to the nation. America will forever remember him as one of the greatest presidents of the United States of America.
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