It was a bill over the rechartering the Second Bank of the
United States. Anti-Jacksonian democrats organized to opposed
re-authorization because it award economic benefits to big businessmen. Opponents also viewed the bank as a threat to
agriculture-based business. The bank’s
owner Nicholas Biddel aligned with Nationalist Republicans led by Nicholas Clay
and Daniel Webster mad the re-charting a referendum of legitimacy of the bank in the 1832 general election. Jackson vetoed the Bill when Congress
re-authorized the bank. In the
presidential elections, it became an issue and Jackson’s campaign won against
the bank and its supporters. Eventually
Biddle lost the battle and the Bank declined and the bank was liquidated in
1841.
