Economic Policies

Posted: January 5th, 2023

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Economic Policies

Banking and Tariffs Policies by Andrew Jackson

After assuming office as the President of the United States, Andrew Jackson announced the government’s termination in using the second bank of the United States as the country’s national bank. He affirmed the American system plan on high tariffs and centralized economic development to introduce decentralized economic policies. President Jackson argued that the banks were monopoly protectors that had special privileges[BG1] . President Jackson[BG2] ’s declaration of the inability of the states to rightfully nullify his decision led to the demand for authority from congress to allow for the collection of tariffs by force if necessary ([BG3] Feller). The Congress Force bill, in alignment with President Jackson’s policy, allowed for the relocation of custom houses and cash payment for customs duties (Hammond). Therefore, President Jackson successfully removed all the federal funds from the bank and deposited them in state banks in the final through his executive power. He used this strategy to settle his ambition to pay off the national debt as the land sale revenues increased.

Impacts of Banking and Tariff Policies on American System[BG4] 

President Jackson’s policies adversely affected the American economy through the destruction of the protective tariffs and internal improvements. This change led [BG5] to the reduction in the economic activities in the United States and the consequent creative energy of the federal government. The policies further [BG6] caused the development of the American democracy through expansion of the Presidency power and accountability in the economy since the banks were not powerful because the President who represented the ordinary people controlled the economy, unlike banks [BG7] that were answerable to private investors (Feller). The state realized the infrastructure projects as the federal surplus were to be distributed to the state in four payment modes.

[BG8] 

Works Cited

Feller, Daniel. [BG9] “King Andrew and the Bank.” Humanities, vol. 29, no. 1, January/February 2008, [BG10] The National Endowment for the Humanities, [BG11] www.neh.gov/humanities/2008/januaryfebruary/feature/king-andrew-and-the-bank. Accessed 18 Aug.[BG12]  [BG13] 2021.[BG14] 

Hammond, Bray[BG15] . “Jackson’s [BG16] Fight with the ‘Money Power’.” American Heritage, vol. 7, no. 4, June 1956[BG17] , www.americanheritage.com/content/jackson%E2%80%99s-fight-%E2%80%98money-power%E2%80%99. Accessed 18 Aug. 2021.

Dear Sharon,

With minor referencing, minor style, grammar, formatting, and careless mistakes, and a 5% fine for repetitive issues, your share is 70%.

Regards,

Barbara

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 [BG1]Ensure proper connection of ideas with the correct tense forms and connecting devices.

 [BG2]Do you refer to your president by their first name?

Use the last name to refer to people, authors, characters, etc.

 [BG3]Both articles that you used have an author.

 [BG4]If it is the first-level heading, no period is needed at the end of it.

 [BG5]Please note that a demonstrative pronoun should always be followed by a noun to avoid vague noun-pronoun reference.

 [BG6]Use synonyms to avoid repetitions.

 [BG7]Differentiate between the need to use restrictive and nonrestrictive clauses and the corresponding punctuation. Follow https://www.grammarly.com/blog/using-that-and-which-is-all-about-restrictive-and-non-restrictive-clauses/

 [BG8]It is a common case of you not applying the page break.

 [BG9]The article has an author.

 [BG10]The article was first published in 2008 in the journal Humanities.

 [BG11]The part https:// is always deleted from MLA bibliography.

 [BG12]Put a period after shortening the month in MLA.

 [BG13]In MLA Works Cited, the months with four or fewer letters (May, June, and July) are not abbreviated; the remaining months (Jan., Feb., Mar., Apr., Aug., Sept., Oct., Nov., and Dec.) are abbreviated.

 [BG14]Put a period after each entry in MLA.

 [BG15]This article also has an author.

 [BG16]Use title case for all types of titles in MLA and ensure proper spelling.

 [BG17]Indicate correct publication details, including the year.