The Second Bank of the United States,…

The Second Bank of the United States, under the guidance of Nicholas Biddle, the third and last president of the institution, has evolved into a powerful banking institution that has produced a strong and sound system of national credit and currency.

By 1829, and the inauguration of President of United State Andrew Jackson, the national bank appears to be on solid footing.

The US Supreme Court has affirmed the constitutionality of the Bank in McCulloch v. Maryland, the U.S. Treasury has recognized the useful services it provides, and the American currency is healthy and stable.

Public perceptions of the central bank are generally positive.

The Bank first comes under attack by the Jackson administration in December 1829, on the grounds that it has failed to produce a stable national currency, and that it lacks constitutional legitimacy.