Wouldn't it be nice to have President Andrew jackson back and let him pay off the debt?

After fiscal mismanagement by its first President, former Secretary of the Navy, Captain William Jones, the Bank was forced to call in loans and foreclosed on mortgages which caused bankruptcy, a price collapse, unemployment and a depression. However, the Bank began to flourish under its new President, financier Nicholas Biddle (1786-1844), who petitioned the Congress for a renewal of the Bank's Charter in 1832 four years before its current charter expired. The Bill for the new Charter passed the Senate 28-20 and the House 107-85, and everyone knew how Jackson felt. Biddle threatened: "Should Jackson veto it, I shall veto him!"





Jackson did veto the Charter, and abolished the Bank in 1832. He ordered the Secretary of the Treasury to remove all Government deposits from U.S. Banks and deposit them in state banks. On January 8, 1835, Jackson paid off the final installment on our national debt and it was the only time in history that our national debt was reduced to zero and we were able to accumulate a surplus, $35 million of which was distributed to the States. Nicholas P. Trist, the President's personal secretary, said: "This is the crowning glory of A.J.'s life and the most important service he has ever rendered his country." The Boston Post compared it to Christ throwing the money-changers out of the Temple.|||The rothchild/jewish conspiracy tried to kill him the last time. They might get him this time.|||He would bring back slavery too, that would be good for the economy!


Conservatives have such good ideas!|||The Nation has to have income first to pay off it's debt. Currently we run massive trade deficits thus we have no income thus we have debt. Just balancing the trade would be a huge impact.|||Nope, Let him keep resting.