Economic-Sabotage

Nicholas Biddle Deliberately Contracts Credit to Create "Biddle's Panic" and Force Bank Recharter

1833-10-01 00:00:00 +0000 UTC | Importance: 8/10

Following Andrew Jackson’s September 1833 removal of federal deposits from the Second Bank of the United States, Bank president Nicholas Biddle responds by deliberately contracting credit nationwide to create economic distress and force Jackson to reverse his policy. Biddle raises interest …

Nicholas Biddle Second Bank of the United States Andrew Jackson Henry Clay U.S. Congress +2 more financial-manipulation economic-sabotage banking-system jackson-era institutional-corruption