What was the economic effect of Jackson’s war on the Second Bank of the United States?
What will be an ideal response?
Answer: The ideal answer should include:
1. Jackson had strong reservations about the bank, in part because of his own brushes with
bankruptcy and his suspicion that branches of the Bank of the United States had illicitly
supported John Q. Adams in the presidential election of 1828.
2. The Bank of the United States’ charter was up for renewal in 1836, but the recharter was put
through early, in 1832, and easily passed Congress.
3. Andrew Jackson vetoed the bank recharter bill, arguing that it violated the fundamental rights of the people in a democratic society.
4. Jackson removed federal deposits from the Bank of the United States against the advice of several cabinet members, who were subsequently reassigned or replaced by loyal supporters.
5. Government funds were placed in 23 state banks, which opponents called “pet banks” while
charging that the state banks were selected for political rather than fiscal reasons.
6. Because Congress did not regulate the credit policies of the state banks, the state banks used the new deposits recklessly, increasing the paper money in circulation and nullifying Jackson’s efforts to shift to a hard-money economy.
7. The Bank of the United States began calling in outstanding loans and instituting a policy of credit contractions, helping to bring on a recession.
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Which of the following is not true about the first Patent Act?
A) ?It was passed in 1790. B) It gave inventors a fourteen-year monopoly on machinery and processes they had created.? C) ?It was also known as an Act to Promote the Progress of Useful Arts. D) ?It only protected inventions patented inside the United States. E) ?It protected inventions patented outside the United States.
In addition to their beautiful gardens, another Japanese cultural contribution that represents a fusion of Zen and aesthetics is the
a. black ink wash. b. architectural saturnalia. c. Shinto observance. d. tea ceremony. e. tatami ritual.
Evo Morales became the leader of Bolivia with the support of what part of the population?
a. women b. Indians c. intellectuals d. workers e. the army
Uncle Tom's Cabin had all the following impacts on the issue of slavery EXCEPT
A) an angry reaction in De Bow's Southern and Western Review. B) to anger Southerners who rationalized slavery. C) keeping France neutral during the Civil War. D) to anger Northerners, many of whom saw the realities of slavery through its pages.