Help Me With Sign Kentucky Banking Document

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welcome to another flip video lesson with mr. Volkman you may be wondering why I'm wearing a Canadian toque or B Nia's the Americans like to call it well today in my school is twin D so I thought I'd dress up like you guessed it mister mint now you may be confused right now cuz mister mint and I are twins you may be going whoa which one's mister Volkman is it that one or is it this guy well let me put your mind at ease I'm mr. Bookman that's mr. mint you can go now today's flip video lesson talks all Jackson vs. the second bank of the United States and it's for lesson 14.6 let's begin we're done with all the flip video lessons in chapter 14 about Andrew Jackson we're gonna look at real quick a political cartoon that was created during the time of Andrew Jackson's battle with the second National Bank and here are three questions they'd like you to ponder to think about wow you observe the cartoon the first question is is what do you see in the cartoon a second question States Andrew Jackson is the man pictured on the Left what does he do finally what might the monster symbolize let's take a look now at that picture now if you need to go back to the questions and maybe write them down so you have a better idea of what mr. Bolton was asking so please pause the video to look closely at the picture and write down some observations on the picture now before we go in and actually talk about the battle between Andrew Jackson and the second National Bank of the United States I'd like to give you some background on this Bank first off this Bank was chartered in 1816 now if you remember way back in seventh grade we learned about how some of the colonies in the United States of America began and about how some of them started with a charter now a charter if you remember is a legal document given from some authority or power to government to a person to start something it could be to start a business a colony or in this case a bank now this charter has to be renewed in the case of the second National Bank it had to be renewed 20 years after it started so 1816 plus 20 is you guessed it what is it again say it a little bit louder well if you said 1836 you're right so that's what it had to be renewed otherwise the bank would be done it would die now the bank was started for two main reasons first off it think of it like this it was a giant piggy bank for the federal government it was a place where the government would store or keep its money that it got through taxes or through tariffs the other reason they started this Bank was to help pay off any debt they got from the war of 1812 that they fought against Britain now the very last thing I want you to know about this Bank and it's very important and as you'll find out later in this video is that the bank itself only answered to stockholders who were people who had invested money in the bank and had only answered to the Board of Directors it did an answer to the voters or the citizens of the United States of America again that's important to remember that don't forget that now there were people who liked the bank and there were people who didn't like the bank which is why I've titled this slide choose a side let's first off start with the people who like the bank because so far it seems like the bank is a good thing first off the main pro banker was Nicholas Biddle and that's because Nicholas Biddle while he was a president of the bank so of course he's gonna like it because well he's in charge of it and it's his job now there's some things you need to know about mr. Biddle first off he was exact opposite of Andrew Jackson who was the president at the time you see Nicholas Biddle travelled the world he was a very wealthy man he was born in the East Coast unlike Andrew Jackson who was born in the frontier and lastly Nicholas Biddle was upper-class he was a privileged person the next group of people who are pro bankers were men that were involved in industries and major businesses on the East Coast now they were Pro national bankers because first up they felt with a national bank our American currency would become stronger especially when compared with currencies from other countries if our currency stronger than theirs these industries and businessmen would potentially be able to earn more money the other reason these guys wanted a national bank is because the control of the economy would be in one central spot one National Bank you can't have two national banks only one and if you can control it you have a better opportunity of one not losing money and to potentially earning more money as opposed to having control the bank and all over the place then there were the 128 thousand 117 people who signed pretty much a petition wanting to renew the Charter they were pro bankers and finally congressman Henry Clay of Kentucky was a pro banker you may remember him from two previous flip videos he was a guy who got John Quincy Adams elected president in 1824 in kind of a sneaky manner but he was also the man that helped to solve the Nullification Crisis first off with the 1832 tariff which lowered the 1828 tariff but he was also the man that got in between an angry Andrew Jackson and a South Carolina that wanted to leave the nation by saying that hey let's lower the tariff gradually yeah that Henry Clay so this Henry Clay the one I was just referring to won the National Bank to help him become president because remember these wealthy people with lots of influence Wanda National Bank let's talk about the people now who did not like the bank a big group of people who did not like the National Bank were the farmers farmers have always been throughout the ages distrustful of federal government's growing up on a farm myself I can say that because most of times government bother farmers with their taxes and regulations farmers just kind of want to be left alone to do their thing if the government's gonna come in it better be to help us or else also farmers were too fond of people in the city they were distrustful of those people because they don't do hard work and get sweat on their brow had the state banks who did not like the federal or the National Bank and and they didn't like this National Bank pretty much because first the state banks were a lot smaller they didn't have the power that the National Bank had pretty much because the federal government did not support these tiny state banks so we've gone over we've talked about who the pro bankers were and who the anti bankers were but we don't really have like a bank issue we don't have a problem well the problem started in about 1832 when Henry Clay pushed its kid the bank reach harder four years earlier because remember the Charter would run out in 1836 now why would Henry Clay want the bank to be recharter three years early well remember he's a sneaky guy Henry Clay wanted to run for president in 1832 guess who he would be running against you guessed it Old Hickory Andrew Jackson himself who would be running for a second term as well now Henry Clay thought he could put Jackson in a pickle and here's why if Jackson would sign the bill to get the National Bank reach Harvard he would anger his main supporters the farmers well I'll say Andrew Jackson you shouldn't have done that no votes for you well if Andrew Jackson decided hey I'm not gonna anger those guys and if he then vetoed the recharger bill you and anger the wealthy businessmen in the east there goes all that money that could have gone to Jackson to help with his re-election so as you can see Henry Clay was hoping to put Jackson in a pickle thus Henry Clay hoped he would become the next president let's talk about no Jackson's opinion on the bank because once we know his opinion of the pink we will know what Jackson would want to do first off Jackson thought that the National Bank had a monopoly on trade on trade well so first off it is not like he likes the bank second Andrew Jackson felt that the Charter for the bank allowed foreign stockholders to avoid being taxed remember stockholders are people who invest or give money into a business so these foreigners from other countries have invested money in the bank and are getting money in return but that money they get back isn't taxed because a charter well that's not too bad but American stockholders they are getting taxed and Andrew Jackson didn't like that next the Supreme Court actually viewed the National Bank is constitutional but Andrew Jackson felt that the Supreme Court should not be the only group to be allowed to think the National Bank was constitutional felt that the other branches of the government the executive and the legislative should be guided by their own opinions of whether or not the National Bank was constitutional and if you remember our civics unit is Jackson allowed to do that last Jackson felt that the bank favored the rich only and then it wasn't helping the farmers out on the frontier because the bank wasn't doing very good stuff with the loans and was making a heart for these frontier farmers to get loans to start their farms now there are people who say that Jackson had a very negative thought on the bank and in fact they felt like Jackson had an obsession with stopping the bank or so they say and if you look at any of the primary documents you might agree with that as well the stage is set we know who is for the bank we know who is against the bank we know why Andrew Jackson didn't like the bank and we also know that Henry Clay was running for president and decided to get the Charter for the bank to be renewed four years early so what happened let me tell you Congress approved the Charter they're like yeah all good they sent the Charter off the Charter bill off to Jackson to be signed and guess what Jackson did he beated the bill he also gave a very stirring a message as to why he vetoed the bill and I quote when the laws undertake to add to make the rich richer and the potent more powerful the farmers mechanics and laborers have a right to complain of the injustice of their government after this very stirring speech by Andrew Jackson the president then ordered all federal funds to be taken out of the National Bank and that's what this picture is showing because you know what's gonna happen at all that federal money is taken out of the bank the federal bank does this he then ordered all about money to be put into the state banks and that's what this wonderful comic shows now the state banks because of this action by Andrew Jackson the state banks were called his pet banks well what did mr. Biddle do well he retaliated by making it harder for businesses to actually get money out of the National Bank however is we're gonna find out was too little too late in conclusion Andrew Jackson was reelected in 1832 for a second term in this picture it shows Jackson with the blue he won by a lot Nicholas vittles Bank died in 1836 because his banks Charter was not renewed Henry Clay well he continued in politics in fact he was a Kentucky senator still and he actually ran for president once more in 1844 and he lost him again for a third time however Henry Clay is known as a great compromiser for all the work he did in various events on more events that we will learn about here in the coming months thank you for watching this flip video I know it was longer than a lot of my previous ones there's anything you did not understand please rewatch it also the questions are on Edmodo see you in class tomorrow