Jackson did not support the National Bank
- wanted a more agrarian society
- believed the Bank promoted industrialization
- vetoed the renewal of the Bank
Jackson weakened the Bank of the US by having states withdraw their money
- economy weakened
- inflation ended up hurting Jackson’s “common people”
New Political Party formed over the Bank controversy…The Whigs
- nationalists who wanted strong federal government to manage economy
- led by Henry Clay and Daniel Webster
- broad interpretation of the Constitution
o tariff, internal improvements, Bank
Whigs vs Jacksonian Democrats for next 20 years