Roger Taney

Senate Censures Jackson for Pet Banks Scheme and Constitutional Overreach

1834-03-28 00:00:00 +0000 UTC | Importance: 8/10

The Senate voted 26-to-20 on March 28, 1834, to censure President Andrew Jackson for unconstitutionally removing federal deposits from the Second Bank of the United States and placing them in state-chartered “pet banks.” The resolution, introduced by Henry Clay, declared that Jackson …

Andrew Jackson Henry Clay Roger Taney William Duane U.S. Senate institutional-capture systematic-corruption financial-deregulation executive-overreach democratic-erosion

Jackson Removes Federal Deposits to "Pet Banks" Selected Through Political Patronage, Not Financial Merit

1833-09-26 00:00:00 +0000 UTC | Importance: 8/10

President Andrew Jackson orders the removal of federal government deposits from the Second Bank of the United States and their redistribution to state-chartered banks derisively called “pet banks” because they are selected based on political loyalty rather than financial soundness. The …

Andrew Jackson Roger Taney Louis McLane William J. Duane U.S. Congress +1 more financial-manipulation institutional-corruption patronage jackson-era banking-system +1 more