Later that evening, she attended a party with the defiant president.
Reagan: Close But Cheery
He protested that there was a plot, and that the man was a tool, and at length quoted the Attorney-General as his authority. It was painful to hear a Chief Ruler publicly trying to persuade a foreigner that any of his constituents hated him to death: and I took the liberty of changing the subject as soon as I could. Not only did the painter believe the president had killed his father; he was also convinced he was 15th-century English king Richard III and was entitled to payments from his American colonies, and that Jackson had prevented him from receiving that money because he opposed reauthorizing the charter for the Second Bank of the United States.
But Jackson had good reason to think he had raised the ire of fellow politicians. The chartered corporation was the second of its kind the first was chartered in as the brainchild of Alexander Hamilton. When Congress allowed the charter on the first bank to expire in , they quickly discovered how important a function it served: It issued currency, opened branches throughout the country, brokered loans if the U.
So in , Congress passed a new, year-long charter for the bank. He said it represented a dangerous concentration of power. In , Congress passed a bill to preemptively re-charter the BUS.
Jackson vetoed it, though the bank would remain in place for another four years. The veto became a major campaign issue when Jackson ran for reelection that year. The move also further provoked Congress, whose members saw it as a huge overreach of executive power. The back-and-forth battle became known as the Bank War.
It transfixed the country, to the point where even someone with clear mental instability could easily reference it in his assassination attempt. In the end, Jackson won his war. The charter for the Second Bank expired in and the federal funds the president had diverted to state banks remained in their scattered locations. Visitors were still allowed entry to the White House without any particular screening process.
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