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| Topic: |
History
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| Number of pages / Number of words: |
9 / 2287 |
Essay's paper body
The bank note currency circulated at a variety of discounts from place to place, and since the government was compelled to accept it for taxes and imposts, the public finances became so disordered as to threaten the operations of the federal government. It was in this context of nationwide inflation and governmental derangement that Congress decided to charter a second bus (1816-1836)...
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It was in this context of nationwide inflation and governmental derangement that Congress decided to charter a second bus (1816-1836). The expectation was that the institution would be able to force the state banks to resume specie payments and restore soundness to the currency.
The Bank's success in achieving those objectives is mainly attributable to its president Nicholas Biddle (1823-1836)...
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