In July of 1832, Andrew Jackson wrote an address to Congress explaining why he vetoed the proposed bill for the institution of a national bank. Despite the fact that Jackson was not known for completing tasks in a benevolent manner, his decision to veto the bill was actually rather admirable and beneficial for the country at the time.
Jackson strongly argued the point that stocks should be dispersed between both foreign countries and the early United States fairly. He believed this to be crucial because if given the opportunity the foreign countries, primarily Great Britain, would try to purchase as much stock as possible allowing their wealth to flourish. While in theory the idea seemed like a good way to create a constant flow of revenue, if the majority of the revenue was to only return to countries, such as Great Britain, the inhabitants in the United States would still be in debt .…