How was the bank unconstitutional to Andrew Jackson?
Andrew Jackson distrusted all banks and considered the Bank of the United States a bank for the wealthy and a monopoly. It was so wealthy it dominated the nation’s economy and money supply. Jackson also felt the BUS should not issue paper money in quantities greater than it had in gold and silver. He did not believe it represented or helped the “comman man.” During his administration he ceased to deposit government funds in the BUS, putting them in state “pet” banks. The BUS continued to pay the government’s bills but since no more money was coming in to the BUS, its deposits dropped from $10 million to $4 million.
