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1832

Jackson vetoes the Bank

The President blocks a new charter for the Second Bank of the United States.

Colorized 1836 political cartoon: Andrew Jackson, cane raised, facing a many-headed monster representing the Second Bank of the United States and its state branches during the Bank War.
“General Jackson Slaying the Many Headed Monster” (1836) — colorized Bank War / Second Bank veto cartoon.Colorized reproduction of the 1836 Bank War cartoon (original: Library of Congress LC-DIG-ds-14740).

In 1832 Andrew Jackson vetoed the recharter of the Second Bank. The fight was over who held the government’s balances and who issued the country’s paper. There was no Federal Reserve. That statute is 1913.

The cartoon on this page is from 1836, after the veto, during the Bank War. The year of the veto is 1832.

Jackson and the Bank →