Why did Jackson oppose the re-charter of the Bank of the United States? A) It increased the money in circulation. B) It allowed state banks to issue paper money. C) It unfairly foreclosed farmers' land and homes. D) It was seen as a tool of the poor to increase wealth. 8)

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Lina

5 March, 20:22

Why did Jackson oppose the re-charter of the Bank of the United States? A) It increased the money in circulation. B) It allowed state banks to issue paper money. C) It unfairly foreclosed farmers' land and homes. D) It was seen as a tool of the poor to increase wealth. 8)

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Chapman · Answer 1

President Andrew Jackson disliked the 2nd Bank of the United States (BUS) because Nicholas Biddle, the bank's president, refused to fund westward expansion into unsettled territories. Also, the War of 1812 had created a deficit, which made inflation a major issue of the time. The 2nd BUS was only contributing to this debt by issuing notes. Therefore, the answer is A) it increased the money in circulation.