The Bank Wars
Andrew Jackson had disliked the print paper money instead he felt that money that should be used would be gold or silver. President Jackson felt that the Second Bank of the United States was corrupt and unconstitutional. Nicholas Biddle was appointed as one of the government's five member on the Bank of United States board of directors, and Andrew Jackson had a severe dislike towards Nicholas Biddle. Henry Clay and Nicholas Biddle had conspired against Andrew Jackson and rather than waiting for the charter to expire in 1836, he sent the charter to be renewed four years earlier in January 1832. Biddle had believed that Jackson would pass the bill because he was planning on running for reelected instead Andrew Jackson had decided to veto the renewal of the charter. In the election of 1832, Henry Clay ran against Andrew Jackson for presidency, but Andrew Jackson was still able to win the presidency. Biddle had made it difficult for businessmen to get loans and these business men would turn to Jackson for help, but he merely stated that Nicholas Biddle has the money so they should go to him regarding these matter. In the year 1833, Jackson had decided to remove federal deposits from its vaults and proposed to stop depositing more funds in the bank and had shrunk the existing deposits gradually by using these funds in order to pay for day-to-day expenditures of the federal government. In 1836 the bank had expired considering this to be a win for President Jackson in the "Bank Wars". Andrew Jackson was also able to completley pay off the national debt by selling land, and is the only president who as been able to do so.