Andrew Jackson opposed the national bank and abolished it because...Submitted by JeffD on Wed, 02/24/2010 - 18:14
* it is unconstitutional;
* it concentrated an excessive amount of the nation's financial strength into a single institution;
* it exposed the government to control by "foreign interests";
* it exercised too much control over members of Congress;
* it favors Northeastern states over Southern and Western states.
Andrew Jackson knew that a Central bank improved the fortunes of an "elite circle" of commercial and industrial bankers at the expense of hard working Americans. He was proven right, when during his administration, the U.S. Government was, for the first, and so far the only time, debt free.
No American should have to live under the oppression of a sprawling oversized central government; or suffer the loss of personal autonomy and liberties to perfunctory bureaucrats; or endure the invasion of privacy by officious functionaries; or struggle through a life trying to stay ahead of inflation; or endure the nightmare of over regulation and criminalization; or tolerate mass corruption and fraud by self serving elected officials; or to grind out a living only to be ravaged by labor-wage taxes while Federal Reserve Bankers get rich off baseless currency; or die fighting in some needless war.
From the Andrew Jackson Society