IDEAS home Printed from https://ideas.repec.org/a/cup/jechis/v66y2006i03p541-574_00.html
   My bibliography  Save this article

Rethinking the Jacksonian Economy: The Impact of the 1832 Bank Veto on Commercial Banking

Author

Listed:
  • KNODELL, JANE

Abstract

Revisiting an old debate between “traditional” historians and “New” economic historians about the short-run monetary effects of President Jackson's war on the Second Bank, I offer new arguments for the traditionalists. I develop a framework accounting for growth in commercial bank credit based on the “investment club” characteristics of antebellum state-chartered banking and apply it to state bank balance sheet data for 1830–1836. The removal of the Second Bank indeed magnified the boom in commercial banking, and the replacement of Second Bank branches with state-chartered banks as lenders and federal government depositories amplified the boom in frontier lands and state debt.

Suggested Citation

  • Knodell, Jane, 2006. "Rethinking the Jacksonian Economy: The Impact of the 1832 Bank Veto on Commercial Banking," The Journal of Economic History, Cambridge University Press, vol. 66(3), pages 541-574, September.
    • Handle: RePEc:cup:jechis:v:66:y:2006:i:03:p:541-574_00
    as

    Download full text from publisher

    File URL: https://www.cambridge.org/core/product/identifier/S0022050706000258/type/journal_article
    File Function: link to article abstract page
    Download Restriction: no
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Eric Hilt, 2009. "Wall Street's First Corporate Governance Crisis: The Panic of 1826," NBER Working Papers 14892, National Bureau of Economic Research, Inc.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cup:jechis:v:66:y:2006:i:03:p:541-574_00. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Kirk Stebbing (email available below). General contact details of provider: https://www.cambridge.org/jeh .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.