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Why did Jackson want to destroy the Second Bank of the United States?
The Second Bank was jeopardizing economic stability, it served as a monopoly on fiscal policy, but did not answer to anyone but the government. Jackson's hated the Second Bank because of past financial problems, and also his views on states' rights and Tennessee roots, ( past memories. )
As a Westerner he had been burned years earlier by the Panic of 1819, which hit the West hard, and which the 2nd Bank of the US had helped cause by over-speculating. He dislikes Bank President Nicholas Biddle. Jackson's enemies were gearing up to make re-approval of the bank a major issue in Jackson's re-election Jackson felt the bank mainly served to make a small group of snobbish Eastern Aristocrats. He hated snobbish Eastern Aristocrats. It concentrated the nation's financial strength in a single institution.
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