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,