Financial History Issue 116 (Winter 2016) | Page 32

in terms of absolute good and unredeemable evil, compromise was impossible. In my view, the Bank War is more than just the story of a confrontation between Andrew Jackson and Nicholas Biddle over the re-charter of the Second Bank of United States; in many ways, it is a debate as old as the Republic about the power and influence of the President. I believe that subsequent events, particularly the boom-and-bust cycle of the American economy in the 19th century, vindicate his policies and the existence of the Bank of the United States. In addition,