Post Tagged with: "Second National Bank"

The devastation from the 1837 crash.

Lincoln’s Campaign for a National Bank

By Nancy Spannaus June 25, 2021—As the Whig Party geared up for the presidential elections of 1840, the United States was mired in a deep depression. While that depression had been brought on by the Jackson Administration’s dismantling of the Second Bank of the United States, there was not broad […]

by June 25, 2021 0 comments History, Infrastructure Bank
A graphic of total factor productivity in the 20th Century, showing the effects of the FDR banking policy.

A Brief History of the Principle of National Banking in the United States

Aug. 27, 2018–While Central Banks exist in many other countries, the United States is unique in its successful development of national banking.  The purpose of National Banks, developed even before the ratification of the U.S. Constitution, was to marshal the financial resources of the young nation and direct them into […]

The Second National Bank of the United States

Yes, American Citizens Once Demanded a National Bank!

By Nancy Spannaus May 12, 2018—On April 23, 1834, a meeting of the “People of Mifflin County, Pa.” adopted the following resolution, which it sent on to the Congress of the United States: Resolved. . . . That the unwise and unlawful removal of the public deposits from the Bank […]

by May 12, 2018 Comments are Disabled Commentary, Infrastructure Bank
Alexander Hamilton's statue in Central Park, New York City.

National Banking Built the U.S. Industrial Giant

By Nancy Spannaus April 5, 2018–National banking in the United States built us into an industrial giant. It derives specifically from Alexander Hamilton’s concept of the First Bank of the United States, a partially government-owned credit institution devised to unify and build the young nation. The fact that most Americans […]

The Second Bank of the United States was key to the U.S.'s 1820 infrastructure boom.

America’s Stunning Growth Under the Second National Bank

By Anton Chaitkin The following is an excerpt from a longer article, published in 2012, on the industrial progress of the United States which Andrew Jackson acted to destroy. It describes the collaboration between the Bank, state and local governments, the military, and President John Quincy Adams during his term […]

by April 5, 2018 1 comment History
Henry Clay

Has Chuck Schumer Opened the Door to the American System?

Jan. 31, 2018—In an op-ed published in the Washington Post on the eve of President Trump’s State of the Union address, Senate Democratic minority leader Chuck Schumer urged the President to propose “a substantial investment in our nation’s infrastructure.” Among the historical examples which he raised was none other than […]

by January 31, 2018 Comments are Disabled Infrastructure, News