6. How did Jackson close the National Bank?

1. **Opposition to Concentrated Power** Jackson believed that the Second Bank of the United States concentrated too much financial power in the hands of a wealthy elite, which he saw as a threat to democratic principles. 2. **Veto of the Recharter Bill** When Congress proposed to renew the bank's charter, Jackson used his presidential veto power to block the recharter. This veto was grounded in his view that the bank was unconstitutional and undemocratic. 3. **Removal of Federal Deposits** Following the veto, Jackson ordered the removal of federal deposits from the national bank. He transferred these funds to various state banks, often called "pet banks," which he deemed more favorable to the interests of the common people. 4. **Resulting Closure of the Bank** By withdrawing federal support and funds, Jackson effectively weakened the bank’s financial stability. Without critical federal deposits and the recharter, the bank lost its national significance and operational viability, leading to its closure. Thus, Jackson closed the National Bank by vetoing its recharter and withdrawing federal deposits, thereby dismantling its financial foundation.