He believed that there was too much power set on that bank and it would hurt the citizens economic and credit opportunity which turned out to do the opposite. He thought that the power should be spread out between the smaller state banks. He put in great efforts to accomplish this goal and eventually shut it down. This action lead to the Panic of 1837; the worst economic depression that the nation had ever experienced. The smaller banks started to close due to economic troubles. Businesses began to fail leaving many without jobs. Thousands lost their land and lives were altered. After Andrew Jackson’s bitter election of 1828, he was angry at the previous president John Quincy Adams for the way he ran in office. When Jackson entered into office, he thought the people were against him so he created the Spoils System. The Spoils System was an “official program to remove people from federal jobs and replace them with employees considered loyal to his administration.” (McNamara 2017) So, another words he fired the experienced, well fit and educated employees and hired people with barely any experience just because they were “loyal to his
He believed that there was too much power set on that bank and it would hurt the citizens economic and credit opportunity which turned out to do the opposite. He thought that the power should be spread out between the smaller state banks. He put in great efforts to accomplish this goal and eventually shut it down. This action lead to the Panic of 1837; the worst economic depression that the nation had ever experienced. The smaller banks started to close due to economic troubles. Businesses began to fail leaving many without jobs. Thousands lost their land and lives were altered. After Andrew Jackson’s bitter election of 1828, he was angry at the previous president John Quincy Adams for the way he ran in office. When Jackson entered into office, he thought the people were against him so he created the Spoils System. The Spoils System was an “official program to remove people from federal jobs and replace them with employees considered loyal to his administration.” (McNamara 2017) So, another words he fired the experienced, well fit and educated employees and hired people with barely any experience just because they were “loyal to his