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1833

Deposits leave the Bank

The 1832 veto stands. In 1833 and 1834 the Treasury moves federal deposits from the Second Bank to state banks.

One-thousand-dollar note of the Bank of the United States, payable 15 December 1840.
Note of the Bank of the United States, payable 15 December 1840. Federal deposits are leaving this bank. The note is not dated 1833.Public domain.

Jackson vetoed a new charter in 1832. In 1833 and 1834 the Treasury removed federal deposits from the Second Bank and placed them with selected state banks, later called pet banks.

The charter itself has not expired. That date is 1836. The Specie Circular is also 1836. The mint-ratio change is 1834. This year is the removal of deposits.

Jackson and the Bank →