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![handle is hein.amenin/aeiadck0001 and id is 1 raw text is:
Key Points
. St- As dicussedn Pai Krt - of this see , the Frst Bank ol tIhe U.ited tates was botih a huae
h n; i ci success ar d a poitiCaI iabli ity.
The sane wyas tiue fat- thc Second c Bani . Pc cte United States. Chartered alte'r tle' vt Wr of
i] 12, the Sec :ced Bank v-c' iwas . O co c rde , the at ic.ctcn.i fir-ces, bcij a fi t- t t
b tce 0 l:4 arl,,d poii'tcai c cctr.
4 The iesson oi the bank has itmnort't p,
-- *C oeIrnma (eer,,mmne msl orll flcfltt
':10 sL:Wep 'rl to th ane c-a~tt
M-y 'pca;OrLS , today bLi:as 'cL ri .-:t (C
t i v .-. the First acd o d Ba, kari thus
'-i e pucev i*nus repod in this seakes exmmitned the
First Bank of the United States, n oting that tt . was
esseticc. to the stueccess ft Tetv men.nnt o the
United States' early flnancial sector but that .
created vtegat:Re xnetealirtks o.n renIhc :cv-
etoe ilt. N ely the stockio. dera wionn Aley-
ander Han-iton faxvcre'd came to aceqire power
far bcyonid crdi tn.d i i t i .....c u'hc- t
prsu their ,,csperial gain dung the Panic of
I- resni, the arecr or; the Sceond Bank of
tie Uit>ed States largtte.t o.'irrors that of the f!rsto
The goven.n.nent afloewd the first charter to iapse
In W11n and it.s absen:e was sorely fiet du.:,.g the
Warf ef81Z. ,0, in 1.. kw as nonea oter thi ., Pres-
ident James :%diij -o ne oC the bank's c-ig'na,
crifes-wAlo signed the recharter into i-aw, tVhie
th is Second [tank p* ...oc o bly tv ir'inr ofe 1,e
.Szs, it t.,ese..e-.. exhibited some of the same
conruptio n that had marked the Fil Ba'n: in tie
7'tos. F.ont its elarterng in 'ntil tie Parne of
A, greedt, and cr'ooked branch, ma',nagcrs ook
advantage of a feckless adinistr .tion .o enrll
ten .cixes at thea epense ofc- ccc' ccty, Ate! after
the elCection of 1a3:, Bank Prcsident icholas Biddle
used the elaborate power of the bank to influence
the political process,
The lesson f ron the FIirst and Second Back is
chat wi.lJe ti-ter tu ;rn' have been . fetinom c-tick easee...
tcaL, they were also politically dangerous. For
nodcr:n leaders, the i ieattc is tiat the bank's
poieynak ngtrt egs'--wht reby private factions are
used as nedliat or I: -nhe public- interesta----a, be
simuit'aneoucsIsly ef#.ctie for government
ends and dange-rous t: t, e -al th of repA ilican .sr.,](ViewImageLocal?handle=hein.amenin/aeiadck0001&div=1&collection=&method=preview&ext=.png&size=3)