Be Prepared… Take out chart and money from yesterday

PERIODS 2, 4, and 8 Take out last night’s hw and pass it up

TODAY WE WILL…o Simulate how the banking system at the National and State Level

workedo Complete Notes on The Bank War

Round 3Mr. BIDDLE’s National Bank =

$5,000 US dollars available to EACH State Bank.

NOTE: $1,000 to Farmers; $4,000 everyone else.NOTE: State Banks you may demand payment of

loans or portions of loans at any time. However, … you don’t want your borrowers going bankrupt b/c then

you earn NO MONEY.

Round 3RESULTS = The Economy is not always good…

Farmers = FLIP x2Miners = FLIP x2

Business Owners FLIP x2Land Speculator FLIP x2

Round 4Mr. BIDDLE’s National Bank =

$8,000 US dollars available to EACH State Bank.

NOTE: Northern Banks (NY & PA) may lend an additional $5,000 to BUSINESS OWNERS

if they choose.NOTE: State Banks you may demand payment of loans or portions of loans at any time. However, … you don’t want

your borrowers going bankrupt b/c then you earn NO MONEY.

Round 4RESULTS = BUSINESS IS BOOMING!!!

Farmers = FLIP x2Miners = FLIP x2

Business Owners FLIP x5Land Speculator FLIP x3

Round 5Mr. BIDDLE’s National Bank =

$5,000 US dollars available to

Northern State Banks ONLY. NOTE: State Banks you may demand payment of loans or portions of loans at any time. However, … you don’t want

your borrowers going bankrupt b/c then you earn NO MONEY.

STOP! I am stepping in and giving $5,000 to

the Bank of Tennessee. And, Banks can lend

whatever they want to whoever they want.

Round 5RESULTS = Coal and Iron deposits are found!

Farmers = FLIP x2Miners = FLIP x3

Business Owners = FLIP x2Land Speculator = FLIP x2

Round 6President Jackson =

$5,000 available to the Bank of TN.$2,000 available to Northern Banks

NOTE: State Banks you may demand payment of loans or portions of loans at any time. However, … you don’t want your borrowers going bankrupt b/c then you earn NO MONEY.

Round 6RESULTS = Bad weather has taken its toll on the economy…

Farmers = FLIP x3Miners = FLIP x3

Business Owners = FLIP x3Land Speculator = FLIP x3

Round 7

NOTE: MR. BIDDLE HAS RETURNED to THE U.S.!

NOTE: ANDREW JACKSON HAS VETOED THE BANKING BILL

NOTE: MR. BIDDLE HAS DEMANDED ALL STATE BANKS COLLECT ALL DEBTS!! NOW!!

Round 7

ALL GROUPS =

PAY YOUR DEBTS OR

GO BANKRUPT!!!

THE BANK WAR (PG. 367)

7. Worried Jackson might try to destroy the bank,

B_ _ _ _ _ applied for renewal of the Bank C_ _ _ _ _ _.

8. Biddle and the W_ _ _ _ wanted Jackson to V_ _ _ _

because they believed it would anger voters during the

Election of _ _ _ _.

9. In 1832 C_ _ _ _ _ _ _ renewed the Bank Charter while

Jackson was S_ _ _ in bed.

Biddle Charter

Whigs Veto

1832

Congress

Sick

10. Jackson responded by vetoing the B_ _ _ B_ _ _.

11. Jackson declared the Bank U_ _ _ _ _ _ _ _ _ _ _ _ _ _

and believed the Bank helped A_ _ _ _ _ _ _ _ _ _ at the

expense of the C_ _ _ _ _ P_ _ _ _ _.

12. The Whigs chose H_ _ _ _ _ C_ _ _ as their candidate

to run against Andrew Jackson in the Election of 1832.

13. The C_ _ _ _ _ people surprised the Whigs by electing

Andrew Jackson and R_ _ _ _ _ _ _ _ the Bank of the

United States.

Bank Bill

Unconstitutional

AristocratsCommon People

Henry Clay

CommonRejecting

14. Without a new charter, the Bank would have to

C_ _ _ _ in 1836, but Jackson did not want to wait.

15. Jackson ordered Secretary of the Treasury,

R_ _ _ _ T_ _ _ _ to stop putting government money in the

Bank.

16. T_ _ _ _ deposited money in the S_ _ _ _ banks instead

and they became known as the P_ _ B_ _ _ _.

17. In 1836, The Bank of the United States C_ _ _ _ _

contributing to an E_ _ _ _ _ _ _ C_ _ _ _ _.

Close

Roger Taney

Taney State

Pet Banks

ClosedEconomic Crisis

Wrap Up Questions

QUESTION A

WHAT ARE THE POSITIVES OF A

NATIONAL BANK?

Positives• If run properly works for all

• Can control amount of money given out

QUESTION B

WHY WOULD A NATIONAL BANK BE

SEEN AS A BAD IDEA BY JACKSON?

Negative• Could be biased

• Undemocratic/Unconstitutional

• Could by run by an incompetent person

QUESTION C

WOULD YOU VETO THE BANK BILL OR

ALLOW THE NATIONAL BANK TO SURVIVE?

EXPLAIN.