Second Bank of the United States

E10294

defunct bank federally chartered corporation national bank

The Second Bank of the United States was a federally chartered national bank (1816–1836) that became a central focus of early American financial policy and political conflict, particularly during Andrew Jackson’s presidency.

Aliases (3)

Bank War ×4
Bank of the United States ×2
Bank War against the Second Bank of the United States ×1

Statements (49)

Predicate	Object
instanceOf	defunct bank → federally chartered corporation → national bank →
architectOfHeadquarters	William Strickland →
architecturalStyleOfHeadquarters	Greek Revival →
authorizedCapital	35 million dollars →
charterDuration	20 years →
charterGrantedBy	United States Congress →
charterSignedBy	James Madison →
charterYear	1816 →
controversyOver	concentration of financial power → constitutionality of a national bank → relationship between federal government and banking system →
country	United States →
disestablished	1836 →
established	1816 →
federalDepositsReallocatedTo	state “pet banks” →
finalFailure	1841 →
fundsWithdrawnBy	Andrew Jackson →
governmentOwnershipShare	20 percent →
headquartersBuilding	Second Bank of the United States building →
influenced	development of early U.S. central banking → later debates over the Federal Reserve System →
issued	banknotes redeemable in specie →
laterInstanceOf	state-chartered bank →
listedOn	National Register of Historic Places (headquarters building) →
locatedIn	Philadelphia, Pennsylvania →
managedFederalDebt	yes →
opposedBy	Andrew Jackson →
politicalIssueIn	United States presidential election of 1832 →
predecessor	First Bank of the United States →
president	Nicholas Biddle →
presidentTermEnd	1836 →
presidentTermStart	1823 →
primaryFunction	act as fiscal agent of the U.S. government → regulate credit and state banks → stabilize the national currency →
privateOwnershipShare	80 percent →
roleIn	Bank War → Panic of 1819 →
servedAs	depository of federal funds →
stateCharterGrantedBy	Commonwealth of Pennsylvania →
stateCharterYear	1836 →
subjectOf	Andrew Jackson’s 1832 veto message →
successor	Independent Treasury System →
supportedBy	Henry Clay → Nicholas Biddle →
vetoedAct	Bank recharter bill of 1832 →
vetoedBy	Andrew Jackson →

Referenced by (24)

Subject (surface form when different)	Predicate
Old City historic district → Old City, Philadelphia →	contains
James McCulloch → Nicholas Biddle →	employer
United States presidential election of 1832 → United States presidential election of 1832 ("Bank War") →	mainIssue
Independent Treasury System → Panic of 1819 →	relatedTo
James McCulloch →	associatedWith
Era of Good Feelings →	associatedWithPolicy
Nicholas Biddle ("Bank War") →	conflict
McCulloch v. Maryland →	federalEntityInvolved
Jacksonian era ("Bank War") →	hasPart
Independence National Historical Park →	hasSite
New Hall Military Museum →	locatedNear
Signers' Garden →	near
City Tavern site →	nearbyLandmark
Andrew Jackson ("Bank War against the Second Bank of the United States") →	notableWork
Nathaniel Macon ("Bank of the United States") →	opposed
Panic of 1819 →	participant
Alexander Hamilton's Second Report on the Public Credit ("Bank of the United States") →	proposed
American System (economic plan) →	relatedEvent
Second Bank of the United States ("Bank War") →	roleIn
First Bank of the United States →	succeededBy