Question

What happened after Congress renewed the charter for
the Bank of the United States?
(1 point)
O The Supreme Court ruled the bank was
unconstitutional.
President Andrew Jackson vetoed the bill.
States closed their branches.
There was a run on local banks.

Answer 1

The correct answer is: President Andrew Jackson vetoed the bill.

Andrew Jackson in July 1832 vetoed the bill for the renewal of the charter bank system as he did not favor a strong centralized form of government and did not want the government to supervise banks as well.

He argued that the charter bank system was biased because banks were having monopolistic power and transferred funds in and out of the country easily.
The bank powers led to a rise in their stock prices and profited shareholders who were majorly wealthy Americans or foreigners.
Therefore, Jackson vetoed the renewal of charter banks.