Question

As the Second National Bank faltered, President Jackson

1.ordered funds from the bank to be returned to depositors.
2.removed funds from the bank and deposited them in state banks.
3.created a system of state banks to replace the national bank.
4.pressed Congress for a set of laws that would abolish state banks.

Answer 1

The correct answer is 2) emoved funds from the bank and deposited them in state banks.

As the Second National Bank faltered, President Jackson removed funds from the bank and deposited them in state banks.

President Jackson always opposed to the Second National Bank because he thought it favored wealthy people over the common citizen. So on September 10, 1833, he stopped using the bank. Using his executive powers as President, he removed the deposits of the bank and deposited them in state banks. The bank charter officially ended in 1836.

Answer 2

2.removed funds from the bank and deposited them in state banks.

Step-by-step explanation:

The Second Bank of the United States, located in Philadelphia, Pennsylvania, was the second Hamiltonian National Bank federally authorized in the United States during its 20-year charter from February 1816 to January 1836. The official name of the bank, according to the article 9 of its statute as passed by Congress, was "The President, Directors and Company, of the Bank of the United States."

A private company with public duties, the bank handled all fiscal transactions for the US government and was responsible to the US Congress and Treasury. Twenty percent of its capital was owned by the federal government, the largest single shareholder in the bank. Four thousand private investors held 80% of the bank's capital, including one thousand Europeans. The bulk of the reserves was held by a few hundred wealthy Americans. In its time, the institution was the largest monied corporation in the world.