age of jackson / reform movements - Economic
The national bank of the United States had first been created by George Washington and Alexander Hamilton. Because of the banks lack of funding to the expansion of Western territories Jackson resented it. Because of this and the fact that he found the bank unconstitutional after a "war" with the bank Jackson finally succeeded in shutting it down and redistributed the money to all the independent state banks, often refereed to as pet banks. This allowed for the states to have more say over how and where the money was put instead of depending on one bank to accept and respond to their financial needs. This also lead to independent states deciding on what businesses to put the money into, and therefore gave people a chance to move and adapt to jobs they found would pay them enough. After October 1, 1833 deposits to the national bank were no longer accepted.