Final answer:
President Madison allowed the term of the national bank to end mainly because of concerns about the concentration of power and constitutional issues. Other reasons included limitations on paper currency circulation, distrust of paper currency, and economic concerns.
Step-by-step explanation:
President Madison allowed the term of the national bank to end primarily because of concerns about the concentration of power in the hands of the privileged and adherence to the principle of strict construction when interpreting the Constitution. Madison believed that the bank was unconstitutional and that it exceeded the necessary power of the government. Additionally, there were factions that disapproved of the bank due to limitations on paper currency circulation, distrust of paper currency, and economic concerns.