In a paragraph, explain why President James Madison authorized the Second Bank of the United States. What problem was he trying to solve? What problems did this bill create?

Answers

Answer 1

Explanation:

The Second Bank of the United States was chartered for many of the same reasons as its predecessor, the First Bank of the United States. The War of 1812 had left a formidable debt. Inflation surged ever upward due to the ever-increasing amount of notes issued by private banks. Specie was jealously hoarded. For these reasons President Madison signed a bill authorizing the 2nd Bank in 1816 with a charter lasting 20 years.The Second Bank of the U.S. was chartered in 1816 with the same responsibilities and powers as the First Bank. However, the Second Bank would not even enjoy the limited success of the First Bank. Although foreign ownership was not a problem (foreigners owned about 20% of the Bank's stock), the Second Bank was plagued with poor management and outright fraud (Galbraith). The Bank was supposed to maintain a "currency principle" -- to keep its specie/deposit ratio stable at about 20 percent. Instead the ratio bounced around between 12% and 65 percent. It also quickly alienated state banks by returning to the sudden banknote redemption practices of the First Bank. Various elements were so enraged with the Second Bank that there were two attempts to have it struck down as unconstitutional.


Related Questions

who was the leader that was murdered for cruelty to the people?

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Answer:

Maybe it will be Gaddafi or I will ask my friends

True or False: During the Middle Ages, the nobles supported the serfs by paying high
taxes.

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False. They didn't support

Most settlers in colonial towns and villages worked in specialized fields, like carpentry or baking. What was the relationship of these workers within the community?

They were the most highly paid in the community.
They were the least educated people in the community.
They were all important to the success of the community.
They were respected but not well-paid within the community.

Answers

Answer:

They were all important to success of the community.

Answer:

B. They were the least educated people in the community.

Explanation:

Most people working in "specialized" fields did not have the abilities to do more advanced tasks outside of what they know (Their specialized ability). Does not mean that they weren't important, as they did a lot of the menial tasks though.

how are direct and indirect democracy different?

Answers

Answer:

indirect democracy citizens elect representatives to make laws for them, and direct democracy is where citizens vote for or against specific proposals or laws.

What was the American viewpoint on British taxation of the colonies?
A. "taxation is the right of the British government"
B. "taxation of the colonies is a means to run the government"
C. "taxation is best for Britain and the colonies"
D."taxation without representation is tyranny"

Answers

Answer:

A

Explanation:

BECAUSE IT IS!!!

Answer:

C

Explanation:

on edge 2022 i got it correct

Which conclusion about the U.S. economy is most supported by the information on this time line?

Answers

Answer:

Marketplace competition drove producers to innovate and improve products.

what percent of the daytime is she sun visible in the Sahara desert

Answers

Answer:

It is sunny 71.1 percent of day light hours.the remaining 28.9 of the daylight are likely cloudy or with shade,haze or low sun intensity

Determinen los elementos comunes que tienen la poesía tradicional de los payadores y la gauchesca. ¿ cuales son sus principales diferencias ?

Answers

Fjhffhffggyyffgyyytttggft

pls answer correctly

Answers

Answer:

B AND C

Explanation:

Please help!
Which term describes the study of the history of writing history?
A. Historiography
B. Contextualization
C. Cartography
D. Periodization

Answers

the best term should be Historiography

Hi,

What term best describes the study of historical writing?

A. Historiography

how did the romans describe the people living beyond the northern frs of the roman empires frontier

Answers

Answer:

They were called barbarians because of their language, to the Romans it sounded like the noises barr barr barr all the time. They also thought that they were less developed because they chose to wear pants.

What led the fall of Rome

Answers

Explanation:

1. Invasion by barbarian tribes

2. Economic troubles and overreliance on slave labour

3. The rise of the Eastern empire

4. Overexpansion and military overspending

Answer:

1) Invasion by barbarian tribe

i just need a sentence

Answers

Answer:

Spanish began treating the Native Americans harshly using them for slave labor.

Captains of industry during the Gilded Age were

Answers

Answer:

There was a time in U.S. history when the business magnates and titans of industry boasted more wealth than even today’s top technology innovators and visionaries.

During America’s Gilded Age — which spanned most of the latter half of the 19th century, from around 1870 to 1900 — the inflation-adjusted wealth and impact of America’s most towering figures far overshadowed what we see today.

The wealth of people like John D. Rockefeller, Cornelius Vanderbilt, Henry Ford, and Andrew Carnegie would by today’s standards be measured in the hundreds of billions of dollars — far more than tech giants like Elon Musk, Bill Gates, Mark Zuckerberg, and even Jeff Bezos, the wealthiest individual in the world as of 2019.

Wealth so vast can often highlight the financial inequality of an era. It’s this idea of grandeur in the face of unresolved social concerns that led Mark Twain to coin the phrase “Gilded Age” in his 1873 novel The Gilded Age: A Tale of Today. The title suggested that the thin veneer of wealth for the elite masked broader issues for many in the lower and middle classes.

which of the following is an example of modifying the environment? This is for Flocabulary!!

A. City planners constructing highways and buildings.

B. ancient Egyptian farmers waiting for the Nile to flood.

C. residents of Chicago wearing heavy coats in the winter.

D. A student describing the absolute location of Chicago.

Answers

Answer:

A

Explanation:

8. What powers does the new government have?

Answers

Answer:

The new government have power to coin money, to regulate commerce, to declare war, to raise and maintain armed forces, and to establish a Post Office.

Hope it helps you.

What does “No matter how long the night, the day is sure to come,” mean?

Answers

Answer:

There is a day and night cycle so I would assume that no matter how long the night feels or what is going on the next day is always going to happen the sun will always come out for the next day

List three important effects the Crusades had upon world history.​

Answers

The crusades kept all Europe in tumult for two centuries and cost Christendom several millions of lives. The holy wars affected indirectly and became an important factor in the history of the progress of civilization

What is the nickname for texas

Answers

Answer:

Lone Star State

Explanation:

hope i helped

Answer:

Yeah It is Lone Star State

Someone please help me!!!

Answers

Answer:

B

Explanation:

after Japan Began industrialization and took sides with the Axis powers Their military started making massive advances on the islands of the pacific. after The Us Imposed a Oil and gas embargo on the empire which In response By Japan Resulted in The Destruction of Pearl Harbor

he image on the right depicts three American Indian warriors who fought in the War of 1812. There is a British flag behind them. Why might they have been shown in this way?
They were captives of the British army.
American Indians fought with the British against the United States.
The United States and Britain were allies during the War of 1812.

Answers

Answer:

American Indians fought with the British against the United States.

Explanation:

Native Americans became involved in the conflict to secure British support for their own war against the United States.

Answer:

b.)  American Indians fought with the British against the United States.

Explanation:

just confirmation

ILL MARK BRAINIEST IF YOU DO THIS!!!

Explain what the Declaration of Independence and the Constitution are and identify when they were each approved.

Write 2 paragraphs with at least 3 sentences in each paragraph!

Answers

Answer:

The Declaration contained 3 sections: a general statement of natural rights theory and the purpose of government; a list of grievances against the British King; and the declaration of independence from England.Explain what the Declaration of Independence and the Constitution are and identify when they were each approved.

0/2
X 16. Many political leaders wanted to change the Articles of
Confederation because it... *
reserved too much power for the states
concentrated power in a strong president
Х
divided the federal government among too many branches
granted the federal government too much control over trade

Answers

Answer:

divided the federal government among too many branches

granted the federal government too much control over trade is the answer.

Explanation:

I got it from quizlet sorry if its wrong.

When was new constitution formed in Nepal? 

Anyone help me plz​

Answers

September 16th 2015

What role does scaricity play in manfuctures decision to produce mp3 files and not cds

Answers

Answer:

McOof

Explanation:

Which political system has no central government?
a.capitalism
b.communism
c.socialism
d.mixed market

Answers

C) Socialism i believe? Anarchy doesn’t have central government and socialism is most commonly identified as anarchism
C, socialism I believe.

How did the United States’ decision to join the Allies affect World War 1

Answers

The United States decision to join World War I prevented the defeat of the Allied forces in April, May and July of 1918. In August the influx of 2 million fresh American troops led to the collapse and defeat of the German forces. Without the American troops the Allies would most likely have lost the war.

Answer:

The United States decision to join World War I prevented the defeat of the Allied forces in April, May and July of 1918. In August the influx of 2 million fresh American troops led to the collapse and defeat of the German forces. Without the American troops the Allies would most likely have lost the war.

Pls mark Brainliest.

2. What effect did the rise of Islam have on trade throughout the world?

Answers

Answer:

Another effect of the spread of Islam was an increase in trade. Unlike early Christianity, Muslims were not reluctant to engage in trade and profit; Muhammad himself was a merchant. As new areas were drawn into the orbit of Islamic civilization, the new religion provided merchants with a safe context for trade.

What are four elemental Properties of nature?

Answers

Earth, Water, Air, and Fire. The ancient Greeks believed that there were four elements that everything was made up of: earth, water, air, and fire. This theory was suggested around 450 BC, and it was later supported and added to by Aristotle

What describes accomplishments of the Persian empire

Answers

Some of the accomplishments of the persian empire concludes of building a complex road system in communication and control and developing the worlds first postal service
The Persians were the first people to establish regular routes of communication between three continents—Africa, Asia and Europe. They built many new roads and developed the world’s first postal service.
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