The Jacksonian Era 109Jackson, during his two terms in office, actually redefined the role of
the President, placing him squarely at the head of the government.
And this redefinition won immediate ac ceptance by the electorate.
Sighed one senator, “Until the President developed the faculties of the
Executive power, all men thought it inferior to the legislature—he
manifestly thinks it superior; and in his hands the monarchical part
of the Government (for the Executive is monarchical... ) has proved
far stronger than the representatives of the States.” The President, not
Congress, had become the instrument of the pop ular will.
Biddle’s action in initiating a financial panic proved to the
American people that they did not want an unelected controller of the
nation’s finances with power to dictate to the government and force it
into submission. The House of Representatives agreed. Under Demo-
cratic leadership, it passed a series of resolutions that condemned the
Bank for calling in loans and attempting to force a recharter by fi nan-
cial pressure. The House rejected rechartering, advised that govern-
ment funds be kept in the pet banks, and called for an investigation of
the operations of the BUS and the causes of the financial panic. And
that about killed the bank. “The Bank is dead,” ventured one cabinet
officer. It had proved itself unworthy of trust. Jackson, of course, was
delighted. “I have obtained a glorious triumph,” he exulted. The House
resolutions “has put to death that mammoth of corruption and power,
the Bank of the United States.”
To a very large extent this “Bank War,” as it has been called, was a
power struggle between Andrew Jackson, who represented demo cratic
government as he understood it, and Nicholas Biddle, who represented
privilege and fi nancial control. And the issue was whether elected of-
ficials or captains of industry would determine the direction and future
course of the country. In a real sense it was a question of whether this
nation could survive as a democracy if private, unaccountable concen-
trations of wealth were more powerful than democratically elected
officials of the government. And this power struggle has infl uenced
reformers and progressives throughout the history of the United States.
Again and again, it has happened that individuals and groups have at-
tempted to use the government to advance their special interests, and at