About the Second bank of United state~~
Can any one tell me anything about it??
When it set up and why it closed?
Is there anything affected the any US president about it??
P.S: I don't accept the answer from 維基百科，自由的百科全書~~
Thanks for help~~
- GELv 61 十年前最愛解答
Located on Chestnut Street, between 4th and 5th Streets, the newly installed "People of Independence" exhibit in the Second Bank includes 185 paintings of Colonial and Federal leaders, military officers, explorers and scientists, including many by Charles Willson Peale.
Designed by William Strickland, this building, built between 1819 and 1824, is one of the finest examples of Greek Revival architecture in the United States. The Second Bank was incorporated in 1816 and was one of the most influential financial institutions in the world until 1832, when it became the center of bitter controversy between bank president Nicholas Biddle and President Andrew Jackson. The bank ceased to exist in 1836 after Jackson vetoed the bill to renew its charter. The building continued for a short time to house a banking institution under a Pennsylvania charter. From 1845 to 1935 the building served as the Philadelphia Customs House.
The Second Bank of the United States was chartered for many of the same reasons as its predecessor, the First Bank of the United States. The War of 1812 had left a formidable debt. Inflation surged ever upward due to the ever-increasing amount of notes issued by private banks. Specie was jealously hoarded. For these reasons President Madison signed a bill authorizing the 2nd Bank in 1816 with a charter lasting 20 years.
In the late 1820s a titanic clash erupted between President Jackson and bank President Nicholas Biddle. On one side was Andrew Jackson, Old Hickory, and his supporters who claimed the Bank was a threat to the republic due to its economic power. State bankers felt the central bank's influence frustrated their ability to function. Westerners and farmers claimed the bank was a baleful tool of city folks and overseas interests. On the other side stood Nicholas Biddle, an urbane Philadelphian; before banking he started a literary magazine called the Port Folio. He traveled the world and found the splendor of Greece most compelling (hence Biddle's insistence of a Greek revival structure). Supporters of Biddle's bank outnumbered detractors however. 128,117 people signed memorials to save the bank as opposed to 17,027 who signed memorials opposing the bank. Ultimately Jackson triumphed when he vetoed Congress's 1832 recharter. Jackson considered his 1832 election triumph over pro-bank candidate Henry Clay a mandate of his anti-bank policy. The bank ceased to function in 1836.