Question

Jacksonian Democrats believed that the national bank?

A. favored rich investors.
B. promoted a stable currency.
C. gave too much power to states.
D. harmed industry and workers.

Answer 1

The correct answer is D) harmed industry and workers.

Jacksonian Democrats believed that the national bank harmed industry and workers.

On September 10, 1883, President Andrew Jackson made an important announcement. He decided that the United States government would no longer use the services of the national bank. The first national bank was created by Alexander Hamilton and George Washington in 1791. The second bank was created in 1816. President Jackson had many questions about the work done by this bank. So he decided to apply his executive power to remove the funds from the bank.

Answer 2

A. Favored rich investors. Jackson condemned the bank as a privileged “monopoly” created to make “rich men...richer by act of Congress.”