egulated banking systems. Insufficient money was available to conduct business. Inflation was rampant in many areas of the country, and a significant proportion of the population appeared to be convinced that banking was conducted as more or less an exclusive club for the wealthy. In an attempt to quell some of this discontent, the Republicans then in control of Congress, and who had killed the United States Bank, reestablished the bank in 1816 as the Second United States Bank (Beard, Beard, & Beard, 1960, p. 243).
The banking issue refused to go away, however, and some states began exploring alternatives to the existing banking system, while President Andrew Jackson appeared to declare war on banking as a concept generally and on the Second United States Bank in particular (Beard, Beard, & Beard, 1960, p. 243; Parkes, 1953, p. 247). The Republican controlled Congress extended the charter of the Second United States Bank in 1836; however, Jackson vetoed the legislation in 1837 (Beard, Beard, & Beard, 1960, p. 244). Between the demise
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