Jan 31, 2011
1836: The Death of Our Second Central Bank
"In half an hour, I can remove all the constitutional scruples in the District of Columbia."
- Nicholas Biddle, President, Second Bank of the United States (1822-1836)
The Second Bank of the United States (one of America's earlier experiences with central banking) was created in 1816, just in time to exacerbate the Panic of 1819, before succumbing to an untimely death in 1836 at the hands of President Andrew Jackson (1829-1837), who doubtless has Ron Paul's admiration for the deed."The Bank is trying to kill me", Jackson declared,"but I shall kill it!" Rare for his species, the words were not mere campaign rhetoric; he meant what he said.
Click here to read the rest.
- Nicholas Biddle, President, Second Bank of the United States (1822-1836)
The Second Bank of the United States (one of America's earlier experiences with central banking) was created in 1816, just in time to exacerbate the Panic of 1819, before succumbing to an untimely death in 1836 at the hands of President Andrew Jackson (1829-1837), who doubtless has Ron Paul's admiration for the deed."The Bank is trying to kill me", Jackson declared,"but I shall kill it!" Rare for his species, the words were not mere campaign rhetoric; he meant what he said.
Click here to read the rest.