<img src="https://assets.podomatic.net/ts/a8/f2/f8/jpfagapeu/1400x1400_2371974.png" alt="itunes pic" /><br /><p style="margin: 0.0px 0.0px 0.0px 0.0px; font: 12.0px Georgia;"><strong>Inauguration</strong></p> <ul style="list-style-type: disc;"> <li style="margin: 0.0px 0.0px 0.0px 0.0px; font: 12.0px Georgia;">The Mob</li> </ul> <p style="margin: 0.0px 0.0px 0.0px 0.0px; font: 12.0px Georgia; min-height: 14.0px;"><strong>&nbsp;</strong></p> <p style="margin: 0.0px 0.0px 0.0px 0.0px; font: 12.0px Georgia;"><strong>Not Elite</strong></p> <ul style="list-style-type: disc;"> <li style="margin: 0.0px 0.0px 0.0px 0.0px; font: 12.0px Georgia;">&ldquo;Farmer Presdident&rdquo;</li> <li style="margin: 0.0px 0.0px 0.0px 0.0px; font: 12.0px Georgia;">First president not from East Coast Elite</li> </ul> <p style="margin: 0.0px 0.0px 0.0px 0.0px; font: 12.0px Georgia; min-height: 14.0px;">&nbsp;</p> <p style="margin: 0.0px 0.0px 0.0px 0.0px; font: 12.0px Georgia;"><strong>Friend of the Ordinary Citizen</strong></p> <ul style="list-style-type: disc;"> <li style="margin: 0.0px 0.0px 0.0px 0.0px; font: 12.0px Georgia;">Strict constructionist</li> <li style="margin: 0.0px 0.0px 0.0px 0.0px; font: 12.0px Georgia;">Self made man</li> <li style="margin: 0.0px 0.0px 0.0px 0.0px; font: 12.0px Georgia;">Respect for God&rsquo;s word</li> <li style="margin: 0.0px 0.0px 0.0px 0.0px; font: 12.0px Georgia;">Kitchen cabinet.</li> </ul> <p style="margin: 0.0px 0.0px 0.0px 0.0px; font: 12.0px Georgia; min-height: 14.0px;">&nbsp;</p> <p style="margin: 0.0px 0.0px 0.0px 0.0px; font: 12.0px Georgia;"><strong>Concerns over a Central Bank</strong></p> <p style="margin: 0.0px 0.0px 0.0px 0.0px; font: 12.0px Georgia;">Rechartered in 1816</p> <p style="margin: 0.0px 0.0px 0.0px 0.0px; font: 12.0px Georgia;">Had great influence over other banks</p> <p style="margin: 0.0px 0.0px 0.0px 0.0px; font: 12.0px Georgia;">No constitutional checks and balances.</p> <p style="margin: 0.0px 0.0px 0.0px 0.0px; font: 12.0px Georgia;">Jackson insisted the idea of national bank violated the Constitution &amp; free enterprise system.</p> <p style="margin: 0.0px 0.0px 0.0px 0.0px; font: 12.0px Georgia;">Original purpose of national bank was to keep nations money stable and on the gold standard.</p> <p style="margin: 0.0px 0.0px 0.0px 0.0px; font: 12.0px Georgia;">Western banks had to borrow at hight rates - people demanded Jackson do something.</p> <p style="margin: 0.0px 0.0px 0.0px 0.0px; font: 12.0px Georgia;">Sold stock to investor (many british)</p> <p style="margin: 0.0px 0.0px 0.0px 0.0px; font: 12.0px Georgia;">Jackson warned against foreign control&nbsp;</p> <p style="margin: 0.0px 0.0px 0.0px 0.0px; font: 12.0px Georgia; min-height: 14.0px;">&nbsp;</p> <p style="margin: 0.0px 0.0px 0.0px 0.0px; font: 12.0px Georgia;"><strong><em>Jackson vs. Nicholas Biddle</em></strong></p> <p style="margin: 0.0px 0.0px 0.0px 0.0px; font: 12.0px Georgia;">Branch offices</p> <p style="margin: 0.0px 0.0px 0.0px 0.0px; font: 12.0px Georgia;">National bank lent to congressmen in exchange for favors</p> <p style="margin: 0.0px 0.0px 0.0px 0.0px; font: 12.0px Georgia;">Jackson vetoes <strong>Bank Charter Bill</strong> in 1832</p> <p style="margin: 0.0px 0.0px 0.0px 0.0px; font: 12.0px Georgia;">Withdrew nations money from National Bank</p> <p style="margin: 0.0px 0.0px 0.0px 0.0px; font: 12.0px Georgia;">Biddle called in private loans causing <strong>the Panic of 1837</strong></p> <p style="margin: 0.0px 0.0px 0.0px 0.0px; font: 12.0px Georgia;">Tried to blame that on Jackson</p> <p style="margin: 0.0px 0.0px 0.0px 0.0px; font: 12.0px Georgia;">National bank lost charter - Biddle lost power. &nbsp;</p> <p style="margin: 0.0px 0.0px 0.0px 0.0px; font: 12.0px Georgia; min-height: 14.0px;">&nbsp;</p> <p style="margin: 0.0px 0.0px 0.0px 0.0px; font: 12.0px Georgia;"><strong>Land Speculators</strong></p> <p style="margin: 0.0px 0.0px 0.0px 0.0px; font: 12.0px Georgia;">Borrowing money, buy land sell for higher price (Gov selling land)</p> <p style="margin: 0.0px 0.0px 0.0px 0.0px; font: 12.0px Georgia;">Western banks, paper money not backed by gold.</p> <p style="margin: 0.0px 0.0px 0.0px 0.0px; font: 12.0px Georgia;">Inflation making it near impossible for common man to buy land.</p> <p style="margin: 0.0px 0.0px 0.0px 0.0px; font: 12.0px Georgia;"><strong>Specie Circular</strong></p> <p style="margin: 0.0px 0.0px 0.0px 0.0px; font: 12.0px Georgia;">All public lands be paid for in gold and silver. &nbsp;</p> <p style="margin: 0.0px 0.0px 0.0px 0.0px; font: 12.0px Georgia;">Temporary financial panic but long term stabalization.</p> <p style="margin: 0.0px 0.0px 0.0px 0.0px; font: 12.0px Georgia; min-height: 14.0px;">&nbsp;</p> <p style="margin: 0.0px 0.0px 0.0px 0.0px; font: 12.0px Georgia;">During two terms</p> <p style="margin: 0.0px 0.0px 0.0px 0.0px; font: 12.0px Georgia;">1) Championed sound money backed by gold</p> <p style="margin: 0.0px 0.0px 0.0px 0.0px; font: 12.0px Georgia;">2) Did away with a strong central bank that controlled the nations money supply. &nbsp;</p>