Roger B. Taney, acting Secretary of the Treasury, orders the withdrawal of all federal deposits from the unlawful, second, central Bank of the United States.
NOTE: To counter Jackson, Nicholas Biddle, President of the BUS, called in loans, tightened credit, and offered Jackson’s allies positions with the BUS: “In half an hour, I can remove all the constitutional scruples in the District of Columbia. Half a dozen presidencies [of bank branches] a dozen cashierships [sic], fifty clerkships, a hundred directorships, to worthy friends who have no character and no money.”
[restored 2/15/2021] Thanks to Jim Lorenz for his contributions to this entry.
Subsequent Events:
Authority:
Article I, Section 8 [Clause 18]
ccc-2point0.com/constitution-for-the-united-states
References:
Calvin D. Linton, ed. The Bicentennial Almanac: 200 Years of America, 1776-1976, (Nashville, Tennessee: Thomas Nelson, 1975), 103.
The 19th-Century Bernanke – Lilburne – Mises Institute
mises.org/story/3632
Current U.s. National Debt:
