President Andrew Jackson's success in abolishing the Bank of the United States

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The abolishment of the Bank of the United States left the nation with an unstable banking system for many years. Without a national bank, state banks were left to issue their own banknotes, which led to inflation and economic instability. This instability contributed to the economic downturns in the late 1830s and early 1840s. The lack of a stable national banking system would not be resolved until the creation of the Federal Reserve System in 1913.

President Andrew Jackson's Success in Abolishing the Bank of the United