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Jackson was suspicious of banks in general, viewing them as frequent sources of corruption, and that view extended toward the second Bank of the United States. He engaged in a campaign to curtail its powers and then to ensure that it did not receive a new charter.
Jackson criticized the second Bank of the United States in his annual addresses to Congress in 1829, 1830, 1832, and 1833. He declared that the institution failed to establish a uniform and sound currency, questioned whether it was a safe depository for public funds, asserted that it was unconstitutional, and urged Congress not to renew its charter. In his private correspondence, he referred to the second Bank of the United States as a hydra of corruption, demoralizing to our citizenry, and dangerous to American liberties.
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