Final answer:
Andrew Jackson vehemently opposed the Second Bank of the United States and its issuance of paper currency, favoring gold and silver instead. His presidency featured the 'Bank War,' where he significantly weakened the BUS, withdrew federal deposits, and advocated for a hard money policy.
Step-by-step explanation:
With respect to the banknotes issued by the Bank of the United States, Andrew Jackson was a staunch opponent. He saw the Second Bank of the United States (BUS) as an unconstitutional entity that wielded excessive power and favored the wealthy elite over the common citizen. Jackson's economic policy favored hard currency, specifically gold and silver, and he believed that paper currency issued by the bank led to economic instability and speculative booms.
During his presidency, Jackson undertook what became known as the Bank War, a concentrated effort to dismantle the BUS. In his second term, he withdrew government deposits from the bank and redistributed them to selected state banks, referred to pejoratively as 'pet banks'. This move weakened the BUS by depriving it of funds and diminishing its control over national finance. His policies culminated in 1835 with the Coinage Act, steering the country away from paper currency and towards a gold and silver-based system, a shift known as the hard money policy.
Jackson's battle with the bank was emblematic of his populist stance, siding with the common people and framing his actions as a crusade against an entrenched aristocracy and for small government. His broader goal was to protect democratic interests and prevent a concentration of power in the hands of a few.