A Necessity for Jackson's Impeachment: the National Bank Crisis

Although President Jackson wasn’t impeached for his numerous acts against the American people, he should have been for the sole purpose of closing the 2nd national bank, with the facts being that the bank was a private institution, a primary foundation for the welfare of the economy, and the order of importance of a nation was interrupted: a nation’s interests and needs must be thought of before the selfish views and protests of a President.

If a business is established and it has been funded by the national government, it must be good. To just back out of a deal without notice is very immature and unprofessional, totally opposite of what a government needs to be, considering it is set in place to guide a country of morals, or so is what the original framers of the constitution had in mind. Going back on the country’s word and withdrawing funds to put into other banks wasn’t constitutional, because it made the president’s power greater than the House of Representatives, the reason being that he also vetoed the request to renew the bank’s re-charter. This kind of supremacy reiterated the imbalance of powers in the United States, with Jackson clearly overstepping his boundaries.

The national bank was a crucial institution for getting ordinary citizens ahead, lending money to buy land and other necessities for living the harsh life in colonial days. It provided a livelihood for farmers and others who needed land but didn’t have the money. The importance of it was it provided stability and allowed many to take risks in bettering their future for them and their families, helping those coming from a spectrum of classes. Also, with those in commerce and industry the bank helped with funds in buying goods and financing shipping costs. A large bank was needed because it had a collection of bigger funds in order to be able to accommodate the needs of many. With this benefit, people could cultivate and harness what America had to offer. By splitting this bank into many small state banks, not only was there less money to borrow out, and thus initiating sooner payback for lack of money, but it separated out this power that was a hindrance to the decisions of Jackson, trying to keep as much power as he could to himself.

The real reason for Jackson and his distrust of the National Bank could be one of many: he had been know to be quite cocky, rarely turning down a duel, which could explain his discontent with Nicholas Biddle, the banker who suggested the re-charter of the first national bank (making the 2nd national bank) in 1816, who believed contrary to Jackson’s belief of an “agrarian republic”, much like the views of President Thomas Jefferson. Jackson’s fear of “aristocratic society” was overpowering, when, in a world of capitalistic and democratic beliefs, people can make of themselves whatever they want, instead of the government regulating what people can and can’t do without the overseeing of the government. To make sure of the bank’s failure, he put into practice the “specie circular”, which made it mandatory for pieces of land to be bought in gold and silver pieces, which, being in a low supply and not the primary form of payment from the bank, was a ploy to get the bank to implode with raging people, blaming the bank for their failure. Even after what people had to go through with this land crisis, the bank couldn’t pay off this ridiculous requirement that Jackson set forth so the bank collapsed.

Jackson went against so many rules of the American people that he should have been impeached. If a president can have this much power, throwing away the hopes and dreams of all to get ahead, avoiding all measures taken to limit the president’s power all while having his own interests in mind without remorse, why shouldn’t he be impeached?