08 二 Brand new congressional Clay-Calhoun alliance foreshadowed a convergence of all of the Jackson’s opponents for the good brand new opposition people
The issue you to definitely sealed that it coalition, solidified Jackson's very own after the, and you will dominated his 2nd title since the Chairman was next Bank of your All of us.
Headquartered into the Philadelphia having branches in the states, it was the country's just truly national standard bank. The federal government owned you to-fifth of your inventory and also the Chairman of your own You appointed you to-fifth of the directors. Like many banking institutions chartered by the county legislatures, the bank borrowed to have profit and you will approved report currency backed by specie supplies. Its cards was in fact federal legal tender. By-law, it absolutely was and the government government's individual banker, organizing the fund and storing, move, and you may disbursing the funds.