The History of the United States, 2nd Edition. Episode 29, The Monster Bank

Summary

The Second Bank of the United States regulated the economy by controlling the money supply and by promoting national investment. In 1831, Second Bank director Nicholas Biddle applied to Congress fo...

The Second Bank of the United States regulated the economy by controlling the money supply and by promoting national investment. In 1831, Second Bank director Nicholas Biddle applied to Congress for rechartering; Jackson vetoed the bill. Biddle now began shortening credit and triggered a major economic depression.

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