Hamilton’s Financial Program was adopted by Washington. This bank policy established a national bank, which had many long term consequences. The bank efficiently deposited government funds and had the power to print banknotes. It also issued a stable U.S. currency, whereas, in previous years, during the time of the Articles of Confederation, government did not have the authority …show more content…
He left hardship on the people of America and significant economic issues to the next elector, Buren. In Jackson’s term as president elect, he eliminated the bank of the United States. This was one of the major triggers to our nation’s economy plunging into a depression. Once the bank was vetoed from being rechartered, Jackson removed all federal funds and created Pet Banks. These were used to transfer money from the previous fundings and spread them through various ones. In turn, worsening the economy. Another financial policy that brought great toll on the american people was the Species Circular. It was at this time that prices for land and good were becoming heavily inflated. Jackson sought to fix this problem by ordering all federal lands to be purchased in a specie, known as gold or silver. Just as the previous policy Jackson had issued, it had brought undesirable results. Banks lost value and land sales plummeted as a result. At the end of his term, Jackson left his people to the Panic of 1837. This was an era of banks being foreclosed and our country in recession. These events showed his presidency did not further America into a better, promising future but more than less countered this statement. As a noble president, our duty lies in progression and if we do not succeed in this, we fail not only ourselves, but America.
Overall, Washington had an outstanding impact on America. Being the first american president, he had a lot to prove to the people. His ways of guidance and government would set a great example to the presidents that followed. His assertive attitude and ambitions was what made him a phenomenal elector. Personally, Washington’s years of presidency were by far the most