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In an effort to promote the American economy after the War of 1812, Congress created the Second Bank of the United States in 1816. In 1832, Congress attempted to recharter the Bank, but President Jackson vetoed the bill. Jackson and his supporters claimed that the Bank of the United States was a corrupt institution that harmed the common man by unfairly granting most of its loans to powerful, wealthy Northerners. To prevent another renewal attempt in the near future, President Jackson effectively killed the Bank by doing this.
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