President Andrew Jackson Vetoes Bank Bill—July 10, 1832

Ernesto Hernà ¡ndez Rodrà ­guez Deacon Orr Economics October 9, 2012 President Andrew Jackson Vetoes Bank Bill—July 10, 1832 President Andrew Jackson veto against the bank bill is truly a communication to Congress but it is also like a political manifesto. He states that the privileges possessed by the bank are unauthorized by the Constitution, subversive of the rights of the States, and dangerous to the liberties of the people. In McCuloch v Maryland, the court turned to the necessary and proper clause which grants Congress enumerated powers which include the power to regulate collect taxes. President Jackson explains the necessity in regards to the functions that the bank is trying to fulfill: The degree of its necessity,†Ã¢â‚¬ ¦show more content†¦This act excludes the whole American people from competition in the purchase of this monopoly and dispose of it for many millions less than it is worth. The fourth section provision secures to the State banks a legal privilege in the Bank of the United States which is withheld from all private citizens. There was a lack of equality when paying with notes. A State bank that had notes by a particular branch could pay the dept to the Bank of the United States with those notes, but a citizen couldn’t pay with those notes but must have sold them at a discount or sent them to the branch to be cashed. This does not measure out equal justice to the hig h and the low, the rich and the poor. The president of the bank said that most of the State banks existed by its forbearance, the abstention of enforcing the payment of the debt. The influence of the self elected directory which is identified with those of the foreign stockholders may become concentered in a particular interest that could affect the purity of elections and the independence of the country when it goes to war. Their influence could have been so great as to influence elections and control the affairs of the nation. Works Cited Jackson, Andrew.  «Miller Center. » 10 de July de 1832. Miller Center. Monday October 2012. lt;http://millercenter.org/scripps/archive/speeches/detail/3636gt;. McBride, Alex.  «pbs. » s.f. The Supreme Court. Monday October 2012.Show MoreRelatedAndrew Jackson s Political Power1902 Words   |  8 Pages Andrew Jackson’s Political Power Robert Atwood Ivy Tech Community College Andrew Jackson was a soldier, a lawyer, a husband, an orphan, and in his most famous status, the 7th President of the United States. Andrew Jackson was loved by the people, and hated by his political rivals. He pushed the limits of his power as the president, and at the same time restricted it, as to not overstep his place as the voice of the people. Through his terms as president he used his power to protect the rights