He could have paid off the national debt at some time during his presidency, and I think he might have too. By the time he exited the scene in 1837 though, it was accumulating; it has done that ever since. He got rid of the banks, but sent America into the biggest financial crisis it had seen. $441 million was declared in bankruptcy. Look up “ Specie Circular” and “the Panic of 1837” for some context.
This won’t be a popular take, but some historians conclude that the financial instability from Jackson’s bank war was finally concluded with the creation of the Federal Reserve, which wouldn’t exist without Jackson’s dissolving of the SBUS.
Are people involved with the Federal Reserve corrupt? Yea. Do they profit parasitically off the working man? Yup. Does that mean getting rid of it is a better option? Nope.
It’s like repealing 280 cause the SM robber barons are corrupt.
He could have paid off the national debt at some time during his presidency, and I think he might have too. By the time he exited the scene in 1837 though, it was accumulating; it has done that ever since. He got rid of the banks, but sent America into the biggest financial crisis it had seen. $441 million was declared in bankruptcy. Look up “ Specie Circular” and “the Panic of 1837” for some context.
This won’t be a popular take, but some historians conclude that the financial instability from Jackson’s bank war was finally concluded with the creation of the Federal Reserve, which wouldn’t exist without Jackson’s dissolving of the SBUS.
Are people involved with the Federal Reserve corrupt? Yea. Do they profit parasitically off the working man? Yup. Does that mean getting rid of it is a better option? Nope.
It’s like repealing 280 cause the SM robber barons are corrupt.