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Jackson, Biddle, and the Bank of the United States

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  • Hammond, Bray

Abstract

More than forty years have passed since Catteral's monograph on the second Bank of the United States was published, and, though that account has never been superseded, it antedates all recent literature on central banking and therefore presents inadequately the public purposes of the bank. Furthermore, it includes nothing about the bank's Pennsylvania successor, which failed, and thus omits the denouement of Biddle's conflict with Jackson. The inevitable effect of the failure, in the rough justice of history, was to make Jackson seem right and Biddle wrong; and this impression, especially in the absence of attention to the purpose and functions of the bank, seems in recent years to have been strengthened. I think it needs correction.

Suggested Citation

  • Hammond, Bray, 1947. "Jackson, Biddle, and the Bank of the United States," The Journal of Economic History, Cambridge University Press, vol. 7(1), pages 1-23, May.
    • Handle: RePEc:cup:jechis:v:7:y:1947:i:01:p:1-23_05
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    Cited by:

    1. Officer, Lawrence H., 2002. "The U.S. Specie Standard, 1792-1932: Some Monetarist Arithmetic," Explorations in Economic History, Elsevier, vol. 39(2), pages 113-153, April.
    2. Stephen Haber, 2008. "Differential Paths of Financial Development: Evidence from New World Economies," NBER Chapters, in: Understanding Long-Run Economic Growth: Geography, Institutions, and the Knowledge Economy, pages 89-120, National Bureau of Economic Research, Inc.

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