MESSAGE FROM THE PRESIDENT OF THE UNITED STATES, RETURNING THE BANK BILL, WITH HIS OBJECTIONS... [Caption title & partial text]. Andrew JACKSON.

MESSAGE FROM THE PRESIDENT OF THE UNITED STATES, RETURNING THE BANK BILL, WITH HIS OBJECTIONS... [Caption title & partial text]

[NP]: American and Herald Extra, Saturday, July 14, 1832. Newspaper broadside, in six columns, 56 x 39.5 cm. Rebacked with slight damage showing along old folds. Inscribed on verso to Capt. S.T. Northam, Newport R.I., from a person (name illegible), likely also a resident of a city in R.I. Northam was the President of the Savings Bank of Newport. The charter of the Bank of the United States was due to expire in 1836, but President Jackson failed to mention it in his inaugural address. However, in his first annual message to Congress he opposed the existing charter, favoring one with exceedingly limited powers designed to avoid constitutional issues. "The ideas expressed in [t]his message therefore seem unnecessarily crude, and are hard to account for. There is much reason to suspect that they were inspired by Van Buren and that they represent New York's opposition to the Philadelphia bank." --DAB. When Henry Clay and Nicholas Biddle, president of the Bank, forced a congressional vote on the recharter, they knew Jackson's certain veto would cause the issue to become the leading question of the next presidential campaign. The dispute with Biddle led Jackson to withdraw Government deposits in 1833, forcing a severe contraction of the bank's business. The efforts to force a recharter failed, and after 1836 the bank ceased to function as a national bank. This newspaper is a conundrum, unable to find a newspaper of this name, previous cataloger suggested it was southern because of three ads at the end, one cotton, one tobacco, and one "Ndigo", but the amounts being sold seemed just as likely to have come by ship and given the Rhode Island association more likely there or nearby. Item #66626

Price: $850.00

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