Was Andrew Jackson A Good Pres

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in a land speculation with partners who went bankrupt. Fortunately for him, he escaped debtors prison. He retained a lifelong distrust of banks, and paper money, which was involved in the transaction (Morris, Section 3). In an episode of Jackson�s presidency, he was at war with the Bank of the United States. The Bank of the United States held a monopoly on the deposits of the federal government, which owned one-fifth of the Bank�s stock. The bank provided credit to growing enterprises, issued bank notes which served as a dependable medium of exchange throughout the country, and it exercised a restraining effect on the less well manages state banks. Nicholas Biddle, who ran the Bank, tried to put the institution on a sound and prosperous basis. But Andrew Jackson was always determined to destroy it (Brinkley, 249). The Bank had two opposition groups: the �soft-money� faction and the �hard-money� faction. Soft money advocates objected to the Bank of the United States because it ...

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