The Second Bank of the United States reference article from the English Wikipedia on 24-Jul-2004 (provided by Fixed Reference: snapshots of Wikipedia from wikipedia.org)

Second Bank of the United States

The Second Bank of the United States was founded in 1816, five years after the expiration of the First Bank of the United States and the chaos that ensued. This second bank was patterned after the first. The legality of the Bank was upheld in the 1819 Supreme Court of the United States case McCulloch v. Maryland which also declared null and void any state law contrary to a federal law made in pursuance of the Constitution.

However, renewal of the Second Bank of the United States was vetoed on July 10, 1832 by Andrew Jackson, so it declined until 1836. Henry Clay and Nicholas Biddle had made the Bank a campaign issue. Tensions were still very high when on August 16, 1841 then President John Tyler vetoed a bill which called for the re-establishment of the Second Bank of the United States. This sparked a massive riot outside the White House from enraged Whig Party members.

This is the "Second Bank of the United States" reference article from the English Wikipedia. All text is available under the terms of the GNU Free Documentation License. See also our Disclaimer.