Well Jackson opposed the national bank as well as the issuance of paper money so his face on the most popular note is, in a word, ironic. Just glad Hamilton stays
Quote: "cncote10"Well Jackson opposed the national bank as well as the issuance of paper money so his face on the most popular note is, in a word, ironic. Just glad Hamilton stays
What you say is true, but doesn't tell the whole story. Jackson was against the Bank of the United States (BUS), because he felt it favored the rich over the common man (which was true). Thus, after he vetoed the recharter, he moved the money it held to state banks. That turned out to be a disaster, because the state banks produced much more paper money than they actually had on deposit from the federal government. The real culprit was Senator Clay who moved to recharter the BUS four years early.