Bank War
Essay by ehubbard • March 3, 2013 • Essay • 366 Words (2 Pages) • 1,178 Views
The Bank War was significant in protecting the monetary deposits of the general population of workers and business owners. The events also assisted in putting in place a sound monetary system for our country. Nicholas Biddle was a leader in establishing the currency structure and value stability by putting rules in place that required paper currencies to be equivalent to gold and silver availability by state banks. This move assisted in providing the country with a sound paper currency.
Support was strong in the business community for the banking system but workers were treated unfairly because they were often paid in depreciated state bank notes. These notes had a value that was a portion of their total face value, cheating workers of their full wages. President Jackson began to fight for the people and protect their financial future.
The Bank War reinforced and justified the two-party system by showing the different views of the two parties. One party appeared to focus on the rights of the rich and the other on the rights of the common citizens.
The Bank War was significant in protecting the monetary deposits of the general population of workers and business owners. The events also assisted in putting in place a sound monetary system for our country. Nicholas Biddle was a leader in establishing the currency structure and value stability by putting rules in place that required paper currencies to be equivalent to gold and silver availability by state banks. This move assisted in providing the country with a sound paper currency.
Support was strong in the business community for the banking system but workers were treated unfairly because they were often paid in depreciated state bank notes. These notes had a value that was a portion of their total face value, cheating workers of their full wages. President Jackson began to fight for the people and protect their financial future.
The Bank War reinforced and justified the two-party system by showing the different views of the two parties. One party appeared to focus on the rights of the rich and the other on the rights of the common citizens.
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