Question

Why did supporters of the Second Bank seek a new charter before the existing charter had actually expired?

A. Henry Clay urged the bank's director to pursue a new charter because he knew the measure would fail and the bank would be destroyed.
B. Henry Clay urged the bank's director to pursue a new charter because he believed it would help him win the election of 1832.
C. Bank president Nicholas Biddle wanted to be sure he would remain the head of the institution.
D. John C. Calhoun urged the bank's director to pursue a new charter because he wanted to antagonize Jackson.

Answer 1

Henry Clay urged the bank's director to pursue a new charter because he believed it would help him win the election of 1832.

Explanation:

In Senator Henry Clay's attempt to defeat the incumbent President Jackson in the 1832 presidential election, he along with Daniel Webster convinced the bank top executive, Nicholas Biddle to apply early for a new charter before the existing charter had expired. The purpose is in the hope that President Jackson would reject the renewal of the charter and consequently lose the support of the masses in the then-forthcoming election.