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A New Nation
(1776-1830)

The Bank of the United States



The Bank of the United States
Reading Level
     edHelper's suggested reading level:   high interest, readability grades 4 to 5
     Flesch-Kincaid grade level:   3.7

Vocabulary
     challenging words:    economic, president, victory, unfair, against, battle, order, banks, powerful, exactly, lead, working, shocked, crisis, goods, government
     content words:    Andrew Jackson, United States, Nicholas Biddle, Henry Clay, If Clay


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The Bank of the United States
By Cathy Pearl
  

1     When Andrew Jackson became president, he fought against many things that he thought were not fair. One of the things that he fought against was the Bank of the United States. Jackson thought that the bank was too powerful.
 
2     The bank did have a lot of power. It controlled all the loans that state banks made. Sometimes the bank thought that state banks were making too many loans. The bank would then limit the amount of money that state banks could lend out.
 
3     Farmers and storeowners did not like these limits. They borrowed a lot of money from the banks. They needed this money to buy more land or more goods for their stores.
 
4     Jackson saw the bank as being unfair. Men who got rich working at the bank ran it. Jackson also did not like the president of the bank, Nicholas Biddle. Biddle had been president of the bank since 1823.
 
5     Biddle did come from a rich family. He was qualified to run the bank. But people thought that he was vain. Jackson thought that Biddle used the bank to help his rich friends.

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