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“My Mind Is Made Up”

November 1, 2018

In his 1832 State of the Union message, sent to Congress just weeks after his reelection, President Jackson suggested that the 2nd Bank of the United States (B.U.S.) was “no longer a safe depository” of the people’s money.  The publisher of the Argus of Western America made sure the people were informed of Jackson’s sentiments and did his best to stir up opposition to the B.U.S.   The editor of the Washington Globe told Jackson that the B.U.S. was “using the people’s money to frustrate the people’s will.”  Jackson agreed and said, “I’ll remove the deposits!”  Then he asked the editor to “talk with our friends about this, and let me know what they think of it.”

Of those consulted, most were against the idea.  They loved Jackson and had supported his veto of the rechartering legislation, but they feared dire economic consequences if the government were to suddenly remove its deposits.  One even said that “withdrawal of the public money from the bank would compel it to curtail its business to such a degree that half the merchants in the country would fail.”  Besides, the House had passed a resolution by a vote of 109 to 46 which asserted the deposits were safe and should remain in the B.U.S.

When Jackson received the news, he was not fazed.  As if to imply that he was now ruminating on other things, the President simply replied, “Oh, my mind is made up on that matter.”

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