Private banks resented its privileged position in the banking industry. The opponents, principally agrarians, were distrustful of the federal government. In the act before me there seems to be a wide and unnecessary departure from these just principles. He was still rationalizing his veto on the grounds that he considered the Bank unconstitutional, despite the Supreme Court's ruling to the contrary.
The Treasury Department maintained normal working relations with Biddle, whom Jackson reappointed as a government director of the Bank.
The act before me proposes another gratuity to the holders of the same stock, and in many cases to the same men, of at least seven millions more Thomas Cadwalader, a fellow B. By expanding the veto, Jackson claimed for the president the right to participate in the legislative process.
They described it as "Hamiltonian" in character, accused it of introducing "radical modifications" to existing Treasury policy and attacked it as an assault on democratic principles.
No one could doubt he was well qualified for the job. He also signed a certificate with recommendations for president and cashier of the branch in Nashville.
He assured Blair that he had no intention of replacing him. Cambreleng wrote, "The Treasury report is as bad as it can possibly be — a new version of Alexander Hamilton's reports on a National Bank and manufacturers, and totally unsuited to this age of democracy and reform.