Study On The Second Bank Of The United States And American Society In The First Half Of The 19th Century

The Second Bank of the United States was the second attempt by the federal govermment to establish a national bank.In order to resolve the post-war economic problems and stabilize the monetary system,the Second Bank operated in 1816.It was closed in 1836 by President Jackson's veto.The development of the bank was not only an independent economic event,but also a witness to the American social transformation in the first half of the 19th centuryThe Second Bank of the United States was the supplement to the federal economic function.lt had the power to establish a national economic system and manage state banks.The bank used power to stabilize economic status,restore coins circulation and promote American to be an industrial country.Under the market revolution,with the functioning of the bank,the domestic transportation had developed,the westward movement had proceeded fast,and the domestic market had initially formed.American economy was developing rapidlyWith the improving of economy,national bank's power became a hot political issue.The discussion on the constitutionality of national bank and the dispute of tax issue,which was actually the power conflict between the federal and the states.The debate among the political elites on this issue stimulated the spread of the spirit of the constitution.In the end,Marshall's decision on the“Maryland case”gave legal support to the bank.As a result,the constitutional principle contained in it paved the way for the adjustment of the functions of the United States government in the future.The issue on the "constitutionality" of bank reflected the changes of constitutional principle adapting to social development in the 19th centuryWith the growth of industrial capitalism,the ideas of the political elites had also changed.Democratic Republicans*attitudes had changed from opposing to the bank to approving it,and to reestablishlng it.In 1819,the wrong policy lade the bank the vent of social dissatisfaction under the market revolution.The discourse of "against the bank" became the mainstream public opinion.The social groups expressed their own interests and needs through opposing the bank.After the crisis of 1819,the existence of banks promoted the establishment and development of the national political party system based on two dominant parties.The reflection on the bank's privilege awakened people's consciousness of participating in politics and promoted the expansion of democracy.The contradiction between the national bank and the democratic idea was the root of the bank,5 failure.The discussion on the issue of rebuilding the bank reflected the democratization of the American politics and society in the 1930s.The historical process of the Second Bank of the United States was an important thread of American social development in the first half of the 19th century.The development of economy,the change of democratic concept,and the evolution of political party system were related to the disputes on the bank.The Second Bank became the medium to see different aspects of American social development in the first half of the 19th century.It can be said that the Second Bank of the United States was a witness to America's transformation into a modernized country.