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Bank War
The Bank War was a political struggle that developed over the issue of rechartering the Second Bank of the United States (B.U.S.) during the presidency of Andrew Jackson (1829–1837). The affair resulted in the shutdown of the Bank and its replacement by state banks. The Second Bank of the United States was chartered for twenty years as a private institution with exclusive authority to operate on a national scale. While its stated purpose was to stabilize the American economy through a uniform currency and stronger federal presence, critics questioned whom it truly served. Supporters claimed that the Bank helped regulate prices, extend credit, provide a reliable currency, and offer essential services to the Treasury. However, Jacksonian Democrats and other opponents highlighted troubling examples of favoritism, alleging that the Bank catered to wealthy merchants and speculators while sidelining farmers, artisans, and small businesses. They pointed to the Bank's use of public fu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Andrew Jackson
Andrew Jackson (March 15, 1767 – June 8, 1845) was the seventh president of the United States from 1829 to 1837. Before Presidency of Andrew Jackson, his presidency, he rose to fame as a general in the U.S. Army and served in both houses of the U.S. Congress. Jacksonian democracy, His political philosophy became the basis for the History of the Democratic Party (United States), Democratic Party. Jackson's legacy is controversial: he has been praised as an advocate for working Americans and Nullification crisis, preserving the union of states, and criticized for his racist policies, particularly towards Native Americans in the United States, Native Americans. Jackson was born in the colonial Carolinas before the American Revolutionary War. He became a American frontier, frontier lawyer and married Rachel Donelson Jackson, Rachel Donelson Robards. He briefly served in the U.S. House of Representatives and the U.S. Senate, representing Tennessee. After resigning, he served a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
National Republican Party
The National Republican Party, also known as the Anti-Jacksonian Party or simply Republicans, was a political party in the United States which evolved from a conservative-leaning faction of the Democratic-Republican Party that supported John Quincy Adams in the 1824 presidential election. Known initially as Adams-Clay Republicans in the wake of the 1824 campaign, Adams's political allies in Congress and at the state-level were referred to as "Adams's Men" during his presidency (1825–1829). When Andrew Jackson became president, following his victory over Adams in the 1828 election, this group became the opposition, and organized themselves as "Anti-Jackson". The use of the term "National Republican" dates from 1830. Henry Clay was the party's nominee in the 1832 election, but was defeated by Jackson. The party supported Clay's American System of nationally financed internal improvements and a protective tariff. After the 1832 election, opponents of Jackson, includi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lender Of Last Resort
In public finance, a lender of last resort (LOLR) is a financial entity, generally a central bank, that acts as the provider of liquidity to a financial institution which finds itself unable to obtain sufficient liquidity in the interbank lending market when other facilities or such sources have been exhausted. It is, in effect, a government guarantee to provide liquidity to financial institutions. Since the beginning of the 20th century, most central banks have been providers of lender of last resort facilities, and their functions usually also include ensuring liquidity in the international markets in general. The objective is to prevent economic disruption as a result of financial panics and bank runs spreading from one bank to the others due to a lack of liquidity in the first one. There are varying definitions of a lender of last resort, but a comprehensive one is that it is "the discretionary provision of liquidity to a financial institution (or the market as a wh ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Excess Reserves
Excess reserves are bank reserves held by a bank in excess of a reserve requirement for it set by a central bank. In the United States, bank reserves for a commercial bank are represented by its cash holdings and any credit balance in an account at its Federal Reserve Bank (FRB). Holding excess reserves long term may have an opportunity cost if higher risk-adjusted interest can be earned by putting the funds elsewhere. For banks in the U.S. Federal Reserve System, excess reserves may be created by a given bank in the very short term by making short-term (usually overnight) loans on the federal funds market to another bank that may be short of its reserve requirements. Banks may also choose to hold some excess reserves to facilitate upcoming transactions or to meet contractual clearing balance requirements. The total amount of FRB credits held in all FRB accounts for all commercial banks, together with all currency and vault cash, forms the M0 monetary base. Impact on ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Monetary Policy
Monetary policy is the policy adopted by the monetary authority of a nation to affect monetary and other financial conditions to accomplish broader objectives like high employment and price stability (normally interpreted as a low and stable rate of inflation). Further purposes of a monetary policy may be to contribute to economic stability or to maintain predictable exchange rates with other currencies. Today most central banks in developed countries conduct their monetary policy within an inflation targeting framework, whereas the monetary policies of most developing countries' central banks target some kind of a fixed exchange rate system. A third monetary policy strategy, targeting the money supply, was widely followed during the 1980s, but has diminished in popularity since then, though it is still the official strategy in a number of emerging economies. The tools of monetary policy vary from central bank to central bank, depending on the country's stage of development, inst ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Central Bank
A central bank, reserve bank, national bank, or monetary authority is an institution that manages the monetary policy of a country or monetary union. In contrast to a commercial bank, a central bank possesses a monopoly on increasing the monetary base. Many central banks also have supervisory or regulatory powers to ensure the stability of commercial banks in their jurisdiction, to prevent bank runs, and, in some cases, to enforce policies on financial consumer protection, and against bank fraud, money laundering, or terrorism financing. Central banks play a crucial role in macroeconomic forecasting, which is essential for guiding monetary policy decisions, especially during times of economic turbulence. Central banks in most developed nations are usually set up to be institutionally independent from political interference, even though governments typically have governance rights over them, legislative bodies exercise scrutiny, and central banks frequently do show resp ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
James Madison
James Madison (June 28, 1836) was an American statesman, diplomat, and Founding Fathers of the United States, Founding Father who served as the fourth president of the United States from 1809 to 1817. Madison was popularly acclaimed as the "James Madison as Father of the Constitution, Father of the Constitution" for his pivotal role in drafting and promoting the Constitution of the United States and the United States Bill of Rights, Bill of Rights. Madison was born into a prominent slave-owning Planter class, planter family in Virginia. In 1774, strongly opposed to British taxation, Madison joined with the Patriot (American Revolution), Patriots. He was a member of the Virginia House of Delegates and the Continental Congress during and after the American Revolutionary War. Dissatisfied with the weak national government established by the Articles of Confederation, he helped organize the Constitutional Convention (United States), Constitutional Convention, which produced a n ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Thomas Jefferson
Thomas Jefferson (, 1743July 4, 1826) was an American Founding Fathers of the United States, Founding Father and the third president of the United States from 1801 to 1809. He was the primary author of the United States Declaration of Independence, Declaration of Independence. Jefferson was the nation's first United States Secretary of State, U.S. secretary of state under George Washington and then the nation's second vice president of the United States, vice president under John Adams. Jefferson was a leading proponent of democracy, republicanism, and Natural law, natural rights, and he produced formative documents and decisions at the state, national, and international levels. Jefferson was born into the Colony of Virginia's planter class, dependent on slavery in the colonial history of the United States, slave labor. During the American Revolution, Jefferson represented Virginia in the Second Continental Congress, which unanimously adopted the Declaration of Independence. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Strict Constructionism
In the United States, strict constructionism is a particular Philosophy of law, legal philosophy of judicial interpretation that limits or restricts the powers of the federal government only to those ''expressly'', i.e., explicitly and clearly, granted to the government by the United States Constitution. While commonly confused with textualism or originalism, they are not the same, and in fact frequently contradict, as textualists like Antonin Scalia have noted. Different uses Strict meaning Strict construction requires a judge to apply the text only as it is ''expressly'' written, i.e., read Literal and figurative language, perfectly literally. This can contradict the commonly-understood meaning of a law. For example, consider a law that specifies "the use of a knife when committing a crime should be punished by ten years in prison." This would commonly be understood as prohibiting the use of a knife to threaten or injure another person. However, read purely literally, the law ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Alexander Hamilton
Alexander Hamilton (January 11, 1755 or 1757July 12, 1804) was an American military officer, statesman, and Founding Fathers of the United States, Founding Father who served as the first U.S. secretary of the treasury from 1789 to 1795 during the Presidency of George Washington, presidency of George Washington, the first president of the United States. Born out of wedlock in Charlestown, Nevis, Hamilton was orphaned as a child and taken in by a prosperous merchant. He was given a scholarship and pursued his education at Columbia College, Columbia University, King's College (now Columbia University) in New York City where, despite his young age, he was an anonymous but prolific and widely read pamphleteer and advocate for the American Revolution. He then served as an artillery officer in the American Revolutionary War, where he saw military action against the British Army during the American Revolutionary War, British Army in the New York and New Jersey campaign, served for ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
First Bank Of The United States
The President, Directors and Company of the Bank of the United States, commonly known as the First Bank of the United States, was a National bank (United States), national bank, chartered for a term of twenty years, by the United States Congress on February 25, 1791. It followed the Bank of North America, the nation's first ''de facto'' national bank. However, neither served the functions of a modern central bank: They did not set monetary policy, regulate private banks, hold their excess reserves, or act as a lender of last resort. They were national insofar as they were allowed to have branches in multiple states and lend money to the US government. Other banks in the US were each chartered by, and only allowed to have branches in, a single state. Establishment of the Bank of the United States was part of a three-part expansion of federal fiscal and monetary power, along with a federal mint and excise taxes, championed by Alexander Hamilton, first United States Secretary of the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Senate
The United States Senate is a chamber of the Bicameralism, bicameral United States Congress; it is the upper house, with the United States House of Representatives, U.S. House of Representatives being the lower house. Together, the Senate and House have the authority under Article One of the United States Constitution, Article One of the Constitution of the United States, U.S. Constitution to pass or defeat federal legislation. The Senate also has exclusive power to confirm President of the United States, U.S. presidential appointments, to approve or reject treaties, and to convict or exonerate Impeachment in the United States, impeachment cases brought by the House. The Senate and the House provide a Separation of powers under the United States Constitution, check and balance on the powers of the Federal government of the United States#Executive branch, executive and Federal judiciary of the United States, judicial branches of government. The composition and powers of the Se ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
