President Jackson provides sublime reasoning based on the effect of establishing the bank of America and the constitutional position of the matter.
The main reason Jackson vetoed the re-chartering of the bank of the united states
The main reason Jackson was opposed to the re - chartering of the bank was the open vi olation of the constitution, which resulted in negative impact on the social, political and economic independence of the nation. Economically, competitors of purely American origin would not pursu e, freely, their interests to invest bank ing system. Lastly, t he bank would lend money to the politicians and corrupt the system though its economic power.
Delegate your assignment to our experts and they will do the rest.
The economic, social and political arguments
Jackson presents succinct arguments an d observation s . to begin with, he demonstrates that the bank enjoyed both internal and external monopoly. The monopoly threatened the possibility of independent investors in the banking system, from investing without fearing to be failed by the bank. Secondly, the bank’s election system favored a few to continue their stay in office unjustifiably. Thirdly, the bank profited a few in the society and top leaders in the bank. Finally, the bank would influence politics and war in directions that would cripple the effectiveness of the political and defense system. Such a bank could not exist without becoming a menace to the nation’s development.
Reasoning process: Nationalistic
The president considered the interests of the nation first. He observed that having the bank in America while it profited other nations would be an obstacle to the establishment of other banks. Competition would be stifled resulting in perpetual dependence on the bank f American. The final consequence would be a puppet nation working at the whims of the money lending mogul. Therefore, the president was correct in representing and considering first the interest of those that elected him to the office even though not all accepted his view on the crisis.
Jackson maintains the independence of the executive arm of the government. This office is special, equal and distinct from the other two arms of the government: judiciary and the legislature. As the officeholder, he is correct to preserve the independence of office . He achieves this goal by emphasizing the independence of the three arms in interpreting for themselves the meaning of the constitution. It is in this capacity that he refuses to assent to the bill as he is justified to conclude even if it conflicts with other arms.
The arguments are therefore solidly based on reasonable ideology and therefore is sound. They are driven from an understanding of the constitution rather than impulse.
