Homework Help: history

Posted by meme on Wednesday, May 27, 2009 at 3:30pm.

What is the significance of the bank war and why did it and justify the two-party system?

my reponse for part a is Jackson was a democrat and he advocated for the small farmers, planters and workers. The Bank was in the best interests of the Businessmen and those farmers who relied on the bank for credit. President Jackson removed all federal funds from the bank which led to the Bank War ending with the annihilation of The Second Bank of the United States. The failure of the bank was in the best interest of the people he represented; however, Jackson also issued the Specie Circular, which decreed that the government would accept only specie for the purchase of public land. The failure of the bank caused the Panic of 1837 then depression. When Jackson removed the bank he destabilized the country's credit and financial stance.

history - Shirley, Wednesday, May 27, 2009 at 5:32pm
What is mentioned about the two-party system?
history - meme, Thursday, May 28, 2009 at 2:59am
Jacksons opposers organized another party called the Whigs. They advovated for businessmen and farmers who relied on bank credit. I do not get why a two party sysem was needed.
history - meme, Thursday, May 28, 2009 at 9:07am
During the Bank War there were many opposing views all in favor of what would be best for the country. The advantage of competing parties is the stress that would be put on the candidates to scrutinize the opposing candidate. This would allow w for the checking of abuse while the candidates keep the people up to date.

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