Andrew Jackson and the National Bank

Mr. Simone provides a brief lesson on Andrew Jackson's presidency, focusing on his stance on tariffs and the Bank War. Jackson's opposition to the National Bank, led by Nicholas Biddle, and his efforts to dismantle it by reallocating funds to state banks, known as 'pet banks,' are discussed. The political implications of these actions, including their use against him in the 1832 election by Henry Clay, are highlighted. The lesson also touches on the economic impact of Jackson's policies, such as the Species Circular, and the subsequent panic during Martin Van Buren's presidency. The video concludes with an invitation for further discussion in class.

What was Andrew Jackson's stance on the tariff issue during his presidency?

• He supported the South's decision to nullify the tariff.

• He wanted to force the South to pay the tariff.

• He was indifferent to the tariff issue.

• He proposed a new tariff to replace the existing one.

Who played a crucial role in avoiding a potential civil war over the tariff issue?

• Nicholas Biddle

• Henry Clay

• John C. Calhoun

• Andrew Jackson

Why was Andrew Jackson opposed to the National Bank?

• He believed it was a source of corruption.

• He thought it was too small to manage the economy.

• He had no personal opinion on the bank.

• He wanted to create a new national bank.

What strategy did Jackson use to dismantle the National Bank?

• He merged it with state banks.

• He removed federal funds from it.

• He appointed Nicholas Biddle as its head.

• He increased its funding.

What were the state banks that received federal funds from the National Bank called?

• Federal banks

• Pet banks

• National banks

• Private banks

How did Henry Clay plan to use Jackson's actions against the bank in the 1832 election?

• By supporting Jackson's re-election

• By using it as a campaign issue against Jackson

• By proposing a new bank charter

• By ignoring the issue entirely

Who was the president of the National Bank during Jackson's presidency?

• Henry Clay

• Nicholas Biddle

• Roger Taney

• John C. Calhoun

What was the economic impact of Jackson's Specie Circular?

• It increased the value of paper money.

• It stabilized the economy immediately.

• It led to an economic crisis.

• It had no significant impact.

What was the Specie Circular policy introduced by Jackson?

• A policy allowing land purchases with paper money

• A policy requiring land purchases to be made with gold and silver

• A policy to reduce taxes on land purchases

• A policy to increase the circulation of paper money

Who succeeded Andrew Jackson as President of the United States?

• Nicholas Biddle

• John C. Calhoun

• Henry Clay

• Martin Van Buren