discuss the consequences of closing down the Second Bank of the United States.

Answer 1

When Andrew Jackson shut down the Second Bank of the United States it set in motion a few things. First, the Bank was closed and money was removed to pet banks (some called it wild cat banks). While there the government was able to pay off the first time in history (and only time). It also led to Specie Circular which aimed at using coin for purchase of government lands.

However, because money was not there, it set off a chain of events that would eventually lead to the Panic of 1837. This event only allowed Martin Van Buren one term as President of the the United States and led tot he eventual win for newly minted Whig Party and William Henry Harrison (and Tyler, too).